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One 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.
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.
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
USAA Labs Pilot Highlight: Smart Home Tech
*SBA report “Veteran-Owned Businesses and Their Owners” https://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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