If you’re looking for a veteran business loan from the SBA, the maximum amount of funding you can get depends on the program you apply for:
Standard 7(a) loan: $5 million
SBA Express loan: $350,000
Military Reservist Economic Injury Disaster loan (MREIDL): $2 million
Of course, even with these maximums, it will ultimately be up to your SBA lending partner to decide the loan amount that your business is eligible to receive.
This being said, for both the standard 7(a) and the Express loan, veteran business owners are eligible for reduced fees through the SBA Veterans Advantage Program. These fee reductions are as follows:
7(a) loans of $125,000 or less: No guarantee fee
7(a) loans greater than $125,000 and up to $350,000: 50% reduction of guarantee fee
SBA Express loans: No guarantee fee