The SBA Patriot Express Pilot Loan Initiative grants loans of up to $500,000 for veterans. The military community has taken advantage of this fund to launch new 3. There are many veterans who are doing successful business after receiving support from the SBA. There is also the Military Reservist Economic Injury Disaster Loan program that is being administered by the SBA.
The ‘Patriot Express Loan Program’ has been tapped by one such veteran named Robert Dyer. He came up with the idea to launch a company in 2007 for manufacturing a nutritional supplement to help soldiers doing duty for the nation. The supplement would make it possible for officers in duty to keep up for a week at a time. It is very essential for army-men to take supplements as when they are facing enemy then there can be no excuses as they have to fight back under all circumstances.
Dyer took forward his concept to launch his product named as ‘RuckPack’ – a power packed nutritional supplement to serve the needs of soldiers for extreme sustenance. Dyer with the blessing of fellow soldiers solidified his idea to giving maximum support while on deployment to soldiers.
The SBA Office of Advocacy opines that officers like Dyer are at-least 45 percent more likely to start a venture compared to people having no military experience at all. In 2007 itself, veteran owned businesses consisted of 2.4 million and 9 percent of all businesses nationwide. This category generated $1.2 trillion in receipts and employed 5.8 million people.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org