SEATTLE, Wash. – January 14, 2016 – HomeStreet Bank today announced that it will pay the SBA loan fees for businesses owned by veterans and/or their spouses. The Small Business Administration currently waives half of the loan fees for SBA Veterans Advantage program borrowers, and HomeStreet will pay the other half. This saves veteran-owned businesses up to as much as $166,000 total for these types of loans.
“Helping veterans and their families is a meaningful way for us—as a bank—to give back to those who have served,” said Mark Mason, HomeStreet’s president and CEO. “As a community bank, one of the principal philosophies of our business is taking care of our communities, and this SBA fee assistance program underscores that commitment. It’s simply the right thing to do.”
In order to qualify for SBA Veterans Advantage 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 complete details about the loans or to work with a loan officer, contact Ruth Ann Halford at 206-753-0069 in Washington and Oregon, or Joan Earhart in California at 949-383-2022.