Assistance Focuses on Military Community Entrepreneurs Throughout State

COLUMBIA, SC – August 14, 2007 – The South Carolina Women’s Business Center (SCWBC) today announced the Small Business Administration’s (SBA) Patriot Express Pilot Loan initiative is the latest addition to its menu of assistance programs targeted toward the state’s military community. Patriot Express is a streamlined loan product for veterans and members of the military community wanting to establish or expand small businesses.

SCWBC will facilitate the Patriot Express Loan to statewide military community members, including veterans, service-disabled veterans, active duty service members eligible for the Transition Assistance Program, Reservists and National Guard Members, current spouses of the aforementioned, and widowed spouses of service members or veterans who died during service or of a service-connected disability.

“With more than 14 percent of businesses in America owned by veterans, The Patriot Express Loan is a tremendous resource in assisting aspiring and current military personnel and their spouses in entrepreneurial efforts,” said Haidee Stith, SCWBC executive director. “It is with great honor and privilege that we provide this type of assistance to help America’s brave military men and women realize their dreams. This program offers financing to help maintain a business disrupted by deployment of its principal, so we hope to assist families of active duty men and women who are small business owners.”

The loans are available for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real estate purchases. They feature low interest rates, generally 2.25 percent to 4.75 percent over prime, depending upon the size and maturity of the loan.

Once qualified, loans are available up to $500,000 and will be eligible for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less, and up to 75 percent for loans over $150,000 up to $500,000. The SCWBC will have a listing of Patriot Express lenders in South Carolina.

There are currently 1.2 million men and women on active duty in the armed forces, and 1.8 million in the Reserves and National Guard. For more information on the Patriot Express Loan, please visit www.sba.gov/patriotexpress/index.html.

In addition to the Patriot Express Loan, SCWBC provides business and technical assistance, from start-up through growth and final exit strategies, to prospective and existing small businesses throughout South Carolina. For more information on the Patriot Express Loan or other SCWBC services, please contact Jeannie Jones at 803-461-8900 extension 232, via email at , or visit the website at http://www.scwbc.org/.

About SCWBC

The South Carolina Women’s Business Center opened it doors in 2002 and has provided about 13,500 hours of counseling to almost 2,900 women entrepreneurs in various parts of South Carolina. It was formed to assist the 128,000 existing women-owned businesses in South Carolina, as well as new female-owned ventures. It is a grant-funded program partially funded by the U.S. Small Business Administration. Read more about the Center at http://www.scwbc.org/ .