VAMBOA no fee loans

There is great news for veteran entrepreneurs! The U.S. Small Business Administration (SBA) is extendingits Veterans Advantage program through September 30, 2015. The Veterans Advantage program is also being expanded to include loans up to $5 million. The SBA will continue to offer its provision to eliminate the upfront fee paid by all borrowers for the guaranteed portion of 7(a) loans of $150,000 or less.

Prior to the change, entrepreneurs using the SBA guarantee through private lenders had to pay up to 2% of the guaranteed portion of their loans. This would leave small business owners with fees of up to $2,700.

The SBA is also waiving servicing fees for participating lenders paid by them on loans of $150,000 or less.  Beginning on October 1, 2014, the servicing fee that lenders pay each month on 7(a) loans greater than $150,000 will drop to 0.519% on the guaranteed portion of the outstanding balance.

The up-front guaranty fee is being waived for qualified Veteran owned small business owners using SBA Express loans for amounts up to $350,000.  For Veterans using 7(a) loans outside the Express program, upfront fees continue to be waived for loans up to $150,000.

For loans of $150,000 to $5 million, with a maturity in excess of 12 months, the no upfront-fee will drop by 50% using this formula:

Loans of $150,001 to $700,000 will be at 1.5% of the guaranteed portion.

Loans of $700,001 to $5,000,000 will be at 1.75% of the guaranteed portion up to $1,000,000, plus an additional 1.875% of the guaranteed portion over $1,000,000.

Loans with a maturity of 12 months or less can expect to pay an upfront fee of 0.125% of the guaranteed portion.

In order to qualify for SBA Veterans Advantage, small businesses must be at least 51% owned and managed by an individual or individuals who are veterans, service-disabled veterans, active duty military service member participating in the military’s Transition Assistance Program (TAP), Reservists and National Guard members. Also eligible are the current spouses of any of the previous,  or the widowed spouses of service members who died while in service, or of a service-connected disability.  Verifying documentation proving eligibility is required.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: SBA Extends No-Fee Loans: By Debbie Gregory

SBA Michigan District Office

Take advantage of Early Bird Registration through September 30th!

Ford Motor Company’s Dan Fortunato, Director of Construction and Services Purchasing will be providing the luncheon keynote address for this year’s conference.  To register click on:

Veterans Business Confernce

 Washington Metropolitan Area District Office

In April 2012, Congress passed legislation that gives small businesses and startups additional access to equity markets to raise capital through certain vehicles. What Does It Take to Get Venture Capital For Your Small Business? Please join Eva Ngai, Public Information Officer, as she gives an overview of SBA programs and services including SBA’s Small Business Investment Company program. Participants will also hear from Business Strategist Lorette D. Farris and Casey Berman, Camber Creek Managing Director, about the investment vehicles you can use to raise equity capital and the criteria by which your business will be evaluated.

Date:   October 2, 2014
Time:  8:00 a.m. to 10:00 a.m.
Place: The Rayburn Gold Room, Rayburn House Office Building
45 Independence Ave SW, Washington, DC 20515
Main Entrance, Horseshoe Drive off South Capitol Street

For more information and to register, visit  Participation fee: $15.  Advance registration is required.

This workshop is part of a cosponsored initiative between the U.S. Small Business Administration and Sage Solutions GTM, LLC to provide educational training opportunities to small businesses.

Cosponsorship Authorization 14-0353-90. SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis. Reasonable accommodations for the disabled will be provided to those who make a request 2 weeks in advance. For more information, contact Tijuana Young at (703) 468-0834.


Presented by

U. S. Small Business Administration

Georgia District Office


The U. S. Small Business is hosting a Webinar on veterans and service-disabled veterans’ incentives for the following:

  • ·SBA Veterans Advantage Loan Guarantee Program
  • ·What are the credit requirements
  • ·Do you have sufficient collateral
  • ·Service-Disabled Veteran Federal Government Contracting Program
  • ·Do you have a VA rating letter
  • ·Have you been honorably discharged from the military

Date: September 24, 2014

Location: Online Webinar (See below to register)

Time: 10:30 a.m. to 11:30 a.m.

Login instructions will be sent via e-mail to all registrants within 48 hours before the class. For more information contact: Jorge Valentin-Stone at (404) 331-0100, ext. 609 or via e-mail at

Online Registration: To begin the registration process, go to Cursor down to “Business Resources to Help You Start or Grow a Business in Your Area.” Look for SBA Programs and click on “Training/Events Calendar.” Scroll down until you find this webinar and click on “Register Now.”

SBA’s participation in this event is not an endorsement of the views, opinions, products or services or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis. Reasonable arrangements for persons with disabilities will be made, if requested at least 2 weeks in advance. Contact Jorge Valentin-Stone at (404) 331-0100, ext. 609 or via e-mail at