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In 1546, writer, sildenafil John Heywood was credited for the phrase, viagra “Many hands make light work.” But for small businesses, especially Veteran owned small businesses, very few hands carry a majority of the load. The success or failure of a small business can easily be shaped by the presence or absence of its owner, or a key employee.

With the number of Reservists who own small businesses and have been called to active duty in support of their country, a significant number of them have seen their economic fortunes suffer as a result of their military service. But the good news is that there is relief for these entrepreneurs.

Small businesses that sustained economic losses due to their owner or a key employee being summoned to active duty can apply for a loan of up to $2 million from the U.S. Small Business Administration (SBA).

The SBA provides Military Reservist Economic Injury Disaster Loan (MREIDL) to small businesses affected by the absence of a critical military employee. Applications for MREIDL loans are accepted any time from the date that the member was notified of their call-up to one year after the date of discharge or release from active duty. The loans are designed to allow eligible small business to maintain a current balance on operating expenses that the business could have covered if the business owner hadn’t been called to active duty.

The MREIDL program is managed by the SBA’s Office of Disaster Assistance. The loan is a direct working capital loan, not meant to grow or expand the recipient business, but to maintain the funding of daily operations. It also can’t be used to replace lost profits or refinance long term debt. Interest rates on MREIDL loans are at 4%. No collateral is required to secure MREIDL loans of $50, 000 or less.

Interested Reservist business owners should visit the SBA’s MREIDL portal where they can find more information, including how to apply for the loan. Reservist business owners can also call the SBA’s Disaster Assistance Customer Service Center at (800) 659-2955 or email the office at

What information do you have on SBA loans?

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Veteran business owners and military business owners often need SBA loans to either get off the ground or to grow their businesses. SBA business loans provide businesses the chance to build larger facilities and obtain necessary equipment and machinery, among other things, by offering small business loans specifically created for smaller entities. There are different SBA loan programs to help starting and growing a business. These programs come with different SBA loan rates but they are all loans that can be used for fundamental businesses investments.

One of these SBA lending programs is the Patriot Express Loan Program, a program specifically created for SBA small business loans for veteran business owners and military business owners. The Patriot Express loans are only available to veteran business owners and military business owners, generally decreasing the competition between businesses, but competition is still high among veteran owned businesses. Eligibility for these SBA loans is only applicable through the end of December 2010. SBA business loans programs such as the Patriot Express loans are a step forward for military business owners and veteran business owners because they often have smaller SBA loan rates than other SBA lending programs.

SBA small business loans for veteran owned businesses and military owned businesses are made to meet the financial requirements for small businesses in terms of SBA loan rates and SBA lending repayment programs. SBA loans specifically created for military businesses are usually more affordable than other small business loans from other lenders. Veteran business owners can use SBA business loans to purchase a multitude of business items. These small business loans can be used toward expanding a business structure, adding an additional room or purchasing new business space altogether. The SBA small business loans are very flexible in this regard. Unlike certain other general loans or small business loans that must be put toward a specific purpose in order to be obtained, SBA business loans help businesses thrive and grow in every department.

The SBA loan programs that are offered for veteran and military businesses are created to support the growing community of military and business owners who make up about 5% of all small businesses. The Small Business Administration works to promote these businesses by offering their low SBA loan rates, specific SBA business loans created for military and veteran businesses and SBA loan programs and SBA lending services, offering flexible and helpful loans. The growth of the military and veteran business community has been largely helped by SBA small business loans and will continue to succeed with the support of SBA loans.

Contact the Small Business Administration for more information on SBA loans.