APPROVED LENDER FOR
SBA PATRIOT EXPRESS LOANS
First Colebrook Bank has been named as an approved lender for the Small Business Administration's Patriot Express loan program. "Military activations and extensions are having a profound impact upon entrepreneurs in the military community," says First Colebrook Bank President and CEO Jim Tibbetts. "Patriot Express loans directly help service men and women who wish to start or expand businesses."
Patriot Express is available to military community members and their spouses, including veterans, service-disabled veterans, active-duty service members participating in the military's Transition Assistance Program, and Reservists and National Guard members. Any widowed spouse of a service member or veteran who died during service or of a service-related disability is also eligible.
The loans can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory, or business-occupied real estate purchases. Patriot Express loans offer the SBA's lowest interest rates for business loans and are available in amounts up to $500,000.
"These loans feature the SBA's fastest turnaround for approval," explains Tibbetts. "And because First Colebrook Bank is a New Hampshire-owned, community bank, decisions are made locally, so there's no delay. With a number of New Hampshire citizens serving in the military, we're always trying to find ways to support them here at home, both now and when they return." Earlier this year, the National Committee for Employer Support of the Guard and Reserve recognized First Colebrook Bank for its ongoing support of the National Guard and Reserve.