SEATTLE–(BUSINESS WIRE)–$HMST #helpingvets–HomeStreet Bank today announced that it will extend its small business
loan program for veterans and their spouses, waiving costly fees and
making business ownership more affordable for them and their families.
The Small Business Administration (SBA) had paid 50 percent of
associated fees for SBA Veterans Advantage program borrowers and their
spouses, and HomeStreet had been covering the other half for their
customers since 2016 through a program that ended this fall. Even though
the SBA program ended, in honor of Veterans Day, HomeStreet will
continue covering fees through June 2018 for loans up to $5 million,
saving veteran-owned businesses up to $69,000 on SBA loans.
For many veterans and their spouses, these savings are significant.
Funds can be used to start, buy or expand a business through the
purchase of equipment, buildings, inventory and other purposes.
“Starting a business comes with plenty of challenges. If you’ve served
our country, securing an affordable loan shouldn’t be one of them,” said
Mark Mason, president and CEO of HomeStreet Bank. “We’ve seen veterans
launch successful businesses because of our program. By extending it, we
hope to give back even more to those who have served our country.”
In order to qualify for SBA guarantee loans, a business must be 51
percent owned by a veteran, active-duty military service member
participating in the military’s Transition Assistance Program (TAP),
reservists and National Guard members, the current spouse of the above
or the spouse of a service member who has died while in service. For
more information on how to get involved in this program, contact Scott
HomeStreet is an Equal Housing Lender and makes mortgage loans without
regard to race, color, religion, national origin, sex, handicap or
familial status. Member FDIC. For more information about HomeStreet
Bank, please visit www.homestreet.com.
About HomeStreet, Inc.
Now in its 97th year, HomeStreet, Inc. (Nasdaq:HMST) is a diversified
financial services company headquartered in Seattle, Washington and is
the holding company for HomeStreet Bank, a state-chartered, FDIC-insured
commercial bank. HomeStreet offers consumer, commercial and private
banking services and investment and insurance products, and originates
residential and commercial mortgages and construction loans for
borrowers located in the Western United States and Hawaii. The bank has
consistently received an “outstanding” rating under the federal
Community Reinvestment Act (CRA). Additional information on HomeStreet
Bank can be found at www.homestreet.com.
Barokas PR for HomeStreet Bank
Chris Sanchez, 206-264-8220