We hear it all the time: “Veterans are the best candidates for becoming a franchise owner because of the leadership, team work, understanding chain of command, motivation, ability to overcome adversity, and many other skills learned in the military.” By Jon P. Skroder
We hear it all the time: “Veterans are the best candidates for becoming a franchise owner because of the leadership, team work, understanding chain of command, motivation, ability to overcome adversity, and many other skills learned in the military.” However, regardless of skills and training, those serving less than 10 years normally are unable to establish the required net-worth and comparable credit to be eligible for an SBA loan to start a franchise. At My Military Financial Services (MMFS), we have established the M5 Loan to help these Soldiers, Sailors, Marines, and Airmen achieve their dream of becoming a small business owner!
The M5 Loan is perfect for a home-based, start-up franchise with a range of funding between $100,000 and $150,000. It is designed for veterans less than 5 years removed from the military and without extended service to allow for reprieves in net-worth, comparable credit, and more flexibility in post-closing liquidity requirements. With the M5 Loan, all veterans and spouses with proof of honorable service (DD214), are eligible and will receive decreased time to fund and a 50% reduction in the SBA guarantee fee, even if they have exited the military more than 5 years previous.
MMFS has a funding success rate of over 90% due to our involvement and dedication to the client until funding is complete. With MMFS being a military owned and operated service, we can relate to all prospective veteran business owners in ways most others are unable. We are proud of our military and of all whom have served. Thank you for your service!
For more information, please contact Jon Skroder, Chief Operations Officer, My Military Financial Services, 833.444.VETS, or visit mymilitaryloans.com.
– Jon P. Skroder
Senior Chief Petty Officer Jon P. Skroder (Retired) is a 26 year Navy Veteran (1993-2019) and current COO of My Military Financial Services. Assignments include NAWS China Lake, CA, Pacific Missile Range Facility, HI, HSL-42 NS Mayport, FL, Weapons and Tactics Unit NS Mayport, FL, HSL-48 Mayport, FL, HSM Weapons School Atlantic, Mayport, FL, HSL-37 KBay, HI, and HSM-40 Mayport, FL. MED/MEF deployments aboard the USS San Jacinto (CG-56) and the USS Monterey (CG-61) and 7th Fleet support deployment aboard the USS Michael Murphy (DDG-112).