Building a Better Small Business Funding Experience

Administrator
Administrator
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10 Comments (10 New)

USAA Community Small Business Loans Coming Soon.jpgOne of my favorite parts about the USAA Community is reading posts from members with their ideas for enhancements to make USAA even better and the ones that challenge the way USAA does business. Many of you (@KDos, @Steve4Change and @Adambnice to name a few ) have been inquiring about when USAA will start supporting business loans. I am excited to talk with Lilliana Santos, part of the USAA Labs Bank Innovation team, about a new collaboration with StreetShares™.

 

USAA, in collaboration with StreetShares™, plans to launch a pilot to provide easy access to funding for member-owned small businesses at reduced origination fees beginning later this year.

 

Why StreetShares™?

Lilliana: StreetShares™ is a veteran-founded, run and financed company that offers a suite of specialty finance products, including business loans and lines of credit. These loans are accessible to small businesses with a minimum of one year in operation and $25,000 in annual revenue.

 

When can we look forward to utilizing?

Lilliana: The USAA-StreetShares™ collaboration is expected to be available to members in the second half of 2018, with sign-up for alerts available here today.

 

Why now?

Lilliana: The Small Business Administration reported in 2017 that veteran-owned businesses employ over 5 million people and represent over 9.1 percent of all businesses in the United States.* We at USAA know that includes you and we are pleased to be able to, along with our small business insurance, enhance our support of member-owned businesses through this partnership with StreetShares™.

 

How can I sign up?

Lilliana: Leave a comment on this post to receive a notification once the USAA-StreetShares™ collaboration is live.

 

We will keep you all updated here in community when the partnership officially launches! Do you have a small business? How did you get started?

 

 

To learn more about USAA Labs visit: usaa.com/labs/innovate

 

Related articles:

USAA Labs Pilot Highlight: Smart Home Tech

 

 

*SBA report “Veteran-Owned Businesses and Their Ownershttps://www.sba.gov/sites/default/files/advocacy/435-veteran-owned-businesses-report.pdf?utm_medium=...

 

Use of the term “member” or “membership” refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change.

 

Patriot Express Line of Credit is not affiliated with or guaranteed by the U.S. Small Business Association (SBA) or any government entity and is not a service on behalf of any government agency, department or bureau. StreetShares and this website are not affiliated with the SBA or any government agency.

 

All products and services related to small business loans are provided by StreetShares Inc, not USAA. For servicing, information, or support please contact StreetShares Inc. This is not an offer of credit and does not represent a commitment to provide financing. All business financing is subject to credit approval by StreetShares Inc.

 

USAA is not referring any StreetShares investment products. USAA Bank receives marketing fees in connection with this small business loan program.

 

The trademarks, logos, and names of other companies, products, and services are the property of their respective owners.

 

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10 Comments
goWYO
Occasional Visitor

Yes!  I love USAA and have heard great things about StreetShares.  As a vet small business owner, I am always looking for companies that I trust.  This seems like a great deal for vet small business owners!

 

As an aside, USAA...please open small business checking/credit cards!  


Thanks for all you do!

 

GCO Consulting
New Member

This is great news for Veteran businesses. I am surprised this hasn’t happened sooner. Streetshares is by far the leader in the veteran business lending space. Streetshares as an organization has led so many veteran small business initiatives that again I really couldn’t see a better partner for this approach as they are constantly offering training, opportunities, and other programs for veteran small business to learn and grow. I had always been surprised that USAA didn’t provide small business loans for members but with this approach this is a clear win for both organizations and the veteran business community as whole. Kudos to the forward thinking on this program. 

JMcAlevey
Occasional Visitor

Wow! This is great news. What a logical partnership with StreetShares and an amazing opportunity for veterans to better connect with funding opportunities for their small business dreams. USAA member veterans all over the country are looking for capital to start their next career after the military. As an investor in StreetShares I see this as a huge win for USAA member vets. The StreetShares platform is so easy and inviting for new businesses to find investors. Can't wait to see this rolled out. Nice job again USAA. Always getting better!

AUSV
New Member

It’s about time. Our community needs this and now the power of its influence can be recognized through common sense partnerships. As someone who works in the veteran space, I am really intrigued by this.. good for USAA. Been a member since 2011. 

Ranger1999
New Member

Two great military companies working together. Great idea. Go Army."

Administrator
Administrator

Thank you all for commenting!!

Joker16
New Member

What a perfect partnership!  A brilliant plan that will be a win for USAA, a win for StreetShares, and more importantly, a win for thousands of veterans for years to come. These are two fantastic organizations wholly committed to the veteran community.  Really excited about the potential of this partnership!

Administrator
Administrator

Thanks @Joker16!

Administrator
Administrator

I wanted to take a moment to update this post with the announcement of the launch of USAA’s new business financing with StreetShares Inc. You can find out more about the collaboration here, or sign up here. Thank you all for your comments and participation, it has been instrumental in leading to this pilot.

Administrator
Administrator

Thank you all, the pilot has now ended.