The U.S. Small Business Administration (SBA) today announced the SBA Veteran Pledge Initiative, a commitment by its top national, regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years.
Oftentimes, veterans face challenges in raising capital or have trouble receiving a conventional loan. With the support of SBA’s top 20 national lending partners, and approximately 100 additional regional and community lending partners across the United States, SBA expects to assist an additional 2,000 veterans obtain loans to start or expand small businesses by increasing lending by $475 million over the next five years. This equals a five percent increase above historic veteran lending activity by the SBA.
Source: U.S. Small Business Administration