WASHINGTON — The Obama administration is offering a break next year to former military members who need capital to start or grow a business.
The Small Business Administration announced it will waive its initial borrower fees for military veterans who secure loans in 2014 via the department’s Express Loan Program, through which the agency backs small-business loans of up to $350,000. Currently, the agency charges as much as 3 percent of the value of the loans.
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