IBA, as the premier business brokerage firm in the Pacific Northwest, is firmly established as a respected professional service firm in the legal, accounting, banking, mergers & acquisitions, real estate, and financial planning communities. Periodically, we will post guest blogs from professionals with knowledge to share for the good of owners of privately held companies & family owned businesses. The following blog article has been provided by Paul Long of Gesa Credit Union (https://www.gesa.com/):
SBA Lending Benefits for Veterans and Their Spouses
For veterans transitioning from military service to entrepreneurship, access to capital can be a critical step toward building a successful business. The U.S. Small Business Administration (SBA) offers a variety of loan programs designed to support veteran-owned businesses, and one of the most impactful options is the SBA Express Loan/Line of Credit. What many may not realize is that spouses of veterans can also benefit from specific fee waivers under this program—making it an even more inclusive and supportive resource.
SBA Express Loans: A Fast Track for Veteran Entrepreneurs and Their Spouses
SBA Express Loans are part of the broader SBA 7(a) loan program but are distinguished by their streamlined application process and faster turnaround times. These loans are ideal for small businesses needing quick access to funding—up to $500,000—for working capital, equipment purchases, or expansion.
Fee Waivers for Veterans and Their Spouses
One of the most compelling features of the SBA Express Loan program is the guarantee fee waiver for eligible veterans. This waiver applies to:
- Veterans honorably discharged from active duty
- Service-disabled veterans
- Active-duty military service members eligible for the Transition Assistance Program
- Reservists and National Guard members
- Spouses of any of the above
This means that spouses of veterans—even if they are the primary applicant—can benefit from reduced upfront costs when applying for an SBA Express Loan or Line of Credit. It’s important to note that this waiver does not apply to regular SBA 7(a) loans, only to the Express variant.
Honoring Service with Additional Support
In addition to federal fee waivers, some financial institutions go a step further in supporting veterans. Gesa Credit Union, for example, offers a packaging fee waiver as well as an interest rate discount for eligible veterans for SBA Express Loans or Lines of Credit. This packaging fee typically covers the administrative costs of preparing and submitting the loan application.
Why This Matters
Veterans and their spouses bring unique skills, discipline, and leadership to the business world. By leveraging SBA Express Loans and taking advantage of available fee waivers, they grow their businesses with greater financial flexibility. These benefits not only honor their service but also empower them to continue making meaningful contributions to their communities.
Paul Long is the Vice President of SBA and Small Business at Gesa Credit Union, where he leads initiatives to empower entrepreneurs through strategic lending and financial guidance. With over 13 years of experience in the SBA industry, Paul has become a trusted advocate for small business growth, specializing in helping owners navigate the complexities of SBA financing in WA, OR and ID.
He is also the co-host of SBA Today, a weekly podcast dedicated to demystifying SBA programs and sharing insights from industry experts. The show is available on YouTube, LinkedIn, and all major podcast platforms. The following is a link to an episode where IBA’s President & CEO, Gregory Kovsky, was a guest: https://youtu.be/-dQ6xIC6_8Q?si=LuL7rmyx1c6eaadi
Paul’s passion lies in helping small businesses succeed—whether they’re just starting out, expanding, or preparing for acquisition. His deep knowledge of SBA lending, combined with a genuine commitment to client success, makes him a go-to resource for business owners and financial professionals alike.
If you have any questions relating to the content of this article, business banking, or using a SBA loan to acquire a business, Paul Long would welcome the opportunity to answer them. Mr. Long can be reached at (253) 300-5414 or Paul.Long@gesa.com.
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, mergers & acquisitions, real estate, accounting, legal, and financial planning communities on subjects relevant to the purchase & sale of privately held companies and family-owned businesses. IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.