Wednesday, June 20, 2007

More on SBA's Patriot Express

Want to see a few more details on the SBA's newly announced Patriot Express program targeting veterans?

Visit today's LA Times and read "SBA Streamlining Loans for Vets".

One quick comment - it's a bit unclear the point being made in the article by Bob Multz, a military veteran, small business owner and chairman of the Elite Service Disabled Veteran-Owned Business Network.
"By God, if they have to give them a grant or they have to forgive them something, they should," he said. "I'm not saying [vet borrowers] shouldn't be monitored for performance but … they did something above and beyond. They've earned the right."

While I believe it is appropriate to offer more flexibility in the credit criterion for military veterans to initially qualify for these loans, I'm not sure that I would agree that these loans should not be monitored for performance. Once a military veterans receives the loan, that individual should be expected to pay it back based upon the agreed terms. Otherwise, it's just a grant. Not necessarily what the taxpayers might want to see done with their tax dollars nor the most efficient way to help those who have served our country.

Visit today's LA Times and read Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!

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