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Vets Get More Loans

SBA is trying to make it a tad easier for veterans to get their businesses up and running. The agency announced a program this week that will increase its lending to vets by $475M,or about 5% over the next five years. The SBA Veteran Pledge Initiative has promises from 20 national lending partners and 100 regional and community lending partners to help an additional 2,000 vets get loans to start or expand small businesses. SBA administrator Karen Mills says helping vets start their own businesses goes a long way toward driving the local economy and create jobs. At least 9% of small businesses are owned by vets.

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