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USAA Community Small Business Loans Launch StreetShares.jpg

 

UPDATE: PILOT HAS ENDED

 

Did you know research by 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 know that includes you! Members have been inquiring about business loans and business products from USAA for quite some time.

 

So, to better serve member’s needs, USAA is pleased to announce the launch of a limited time pilot offering in collaboration with Streetshares Inc, a veteran-founded, run and financed company. The pilot provides easy access to financing at reduced origination fees for member-owned small businesses that have a minimum of one year in operation and $25,000 in annual revenue. This pilot offering is available for a period of six months.  Those who have applied will not be impacted by the pilot duration.

 

Visit usaa.com/managebusiness to learn more and sign up.

 

Do you have your own business? How did you get started?

 

Related articles:

Building a Better Small Business Funding Experience

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

 

*SBA report “Veteran-Owned Businesses and Their Owners”

 

Disclaimers:

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.

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

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.

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.

StreetShares products are not available in the following locations: South Dakota, North Dakota, Rhode Island, Nevada, and US Territories.

USAA reserves the right to stop the pilot at any time without any impact to those who have already joined the pilot.

USAA means United Services Automobile Association and its affiliates.

 

 

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23 Comments
Musa06
New Member

This is awesome. I've been a USAA member for the most of my adult life, but when I started my first company in 2009, I had to look elsewhere for my business banking needs (business checking, credit cards, business line of credit, etc.) as USAA did not provide that service at the time. I launched my fifth company back in April, and when we experienced explosive growth, we could not not afford to purchase enough inventory to meet the demand.  This was a good problem but a problem nonetheless. Even though we had mid six figure sales just in our first few months, we discovered that most lenders were either looking for years of business history or charging ridiculous rates when we started shopping for a loan. When we contacted Streetshares, they gave us the personal attention we needed and showed us that they absolutely understood what a veteran owned start up was all about.  We weare able to secure the loan we needed at an amazing rate to fund our holiday inventory which allowed us to streamline our operation and growth.  I believe veterans are primed to be busines leaders and entrepreneurs; I really hope this program continues so that these two great companies that have been so integral in my life can help others in our community pursue their dreams of small business ownership!

SgtofMarines03
New Member

USAA and Streetshares have come together and helped my business directly.  Thank you USAA for the help!  It is so difficult and frustrating to find business funding.  As a USAA member and a small business owner I am excited about this and thankful for the funding.   I am a small business owner employing 34 veterans and spouses in Jacksonville FL.  We have been in business for several years and have had limited to no success in finding funding. In fact USAA knows all too well that I have been using my USAA credit card to fund my business, until now.  Funding a business with a credit card is difficult.   I called USAA (and other financial institutions) yearly asking for funding, guidance or any help at all. 

 

Streetshares came through for me with a line of credit and reasonable terms for my situation.  I am using this funding to grow my business and help with some cash flow.  The process with Streetshares was very smooth and easy.  Morgan helped me every step of the way.  Their process and requests for documentation were not outlandish like other lenders. They made everything simple for me.  I encourage all members who have a business or are thinking about starting a business to call USAA and Streetshares to get advise and at least apply.  Again thank you so much USAA for helping me with my business.  Thank you for allowing me to max out my credit card and thank you for partnering with an organization that actually delivered on their promise.

Administrator
Administrator

@Musa06 Congratulations on launching your 6th company! I am so glad to hear about the support and success you have had with StreetShares! Thank you for your membership and for sharing your story!

Administrator
Administrator

@SgtofMarines03 Thank you for taking the time to share, I am so glad to hear about your experience with USAA and StreetShares! I wish your Jacksonville based business the best!

I've worked with Streetshares many times.  Its a great organization that has been tremendously helpful to veteran owned companies. 

Administrator
Administrator

Thanks for sharing @DevilDogEntrepreneur!

Great job forming a partnership with another veteran-owned business for other businesses. 

Vlanger
Occasional Visitor
I'd like to echo the requests for a small business banking option with USAA.  I have my checking, savings, auto, and home insurance through USAA and I'd sure like to keep my business in the family.

Source: Small Business Banking - Aps717

 

I came to read this article becuase it claimed to Aps717's suggestion for small business banking. Going back to re-read Aps717's comment, above, I can see how StreetShares solves the assumed request. Though, I was saddened to find it doesn't help the part that would have been useful to me and many others. I was hoping for a business checking account. I'll be here, waiting. I'm not here to downtalk progress. I'm just hoping being more specific will help. 

 

Thanks for the partnering with StreetShares, I'm sure it will help many.

Administrator
Administrator

Thanks for taking the time to share your request for small business banking @Vlanger. Happy New Year!

GovCon SB Lady
Occasional Visitor

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