PROVIDENCE – Citizens Bank last week announced a new loan offer for veterans that own businesses.
The bank is offering reduced interest rates for both U.S. Small Business Administration and conventional loans to businesses that are at least 51 percent owned by a veteran or spouse of a veteran. Qualifying business owners must provide validating documents and proof of ownership.
“Helping our veterans fund and operate their businesses is one of the many ways that Citizens Bank shows our appreciation for the sacrifice that they have made protecting our nation,” said Kevin Ferryman, head of SBA lending at Citizens. “We are proud to offer this promotion to our veterans, and will continue to offer our gratitude to these brave men and women.”
Veterans own 2.5 million businesses, about 9.3 percent of U.S. companies, according to the SBA.
Citizens, based in Providence, partnered with the Military Warriors Support Foundation in May to donate a new home to retired U.S. Army Staff Sgt. John Blizinski. Last year, the bank provided a mortgage-free home to retired Army specialist Joshua Bacon.
