What Is a VA Loan?

A VA loan is a loan offered by Veterans’ Affairs. It’s a personal loan offered to most members of the military, veterans, reservists, and National Guard members. Spouses of military members who died while on active duty or as a result of a service-connected disability are also eligible to apply.

I’m a veteran! What can I use my loan for?

VA loans are restricted to mortgages, refinancing, rebuilding, and expanding or extending a personal home.

But I want to use a VA loan to start my small business.

Unfortunately, that’s not an option. However, the SBA offers a loan service called the “Patriot Express” which is a more traditional business loan to help veterans start their small businesses. It’s kind of like the Polar Express. Without the trains, of course. Or Christmas. Or Santa. Okay, so it just kind of sounds the same. But you should check it out anyway. It’s a great program.

Can I get one of those loans from Lendio?

Sadly, no. We’re not a government agency and therefore can only offer loans provided by the lenders who have partnered with us. But rest assured, we have partnered with more lenders than anyone else in the world to help Veterans and non-Veterans alike get all the funding they need for their small businesses. If you don’t qualify for a Patriot Express loan or the loan isn’t enough to meet your needs, we encourage you to fill out an easy application with us and see what kind of amazing options our more than 75 lenders can offer you!

Thanks! I will!

Choo choo!