SAN ANTONIO — Security Service Federal Credit Union (SSFCU) said it has expanded its line of business loan products to include the new Small Business Administration Patriot Express Pilot Loan for military members, veterans and their spouses interested in expanding or establishing small businesses.
The Patriot Loan program will allow the $4 billion CU to offer business loans up to $500,000 that can be used for start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases.
"We are excited to add the Patriot Loan program to our line of business products — especially a product like this one that will assist the military community and veterans with their small business needs," John Worthington, senior vice president for SSFCU, said in a release.
SSFCU said it is the first credit union in Texas to be approved by the SBA to offer this loan product, and added it already has closed its first Patriot Express loan.
