Lending Partners Rally Behind WBD’s New Veteran-Owned Business Benefits
WBD is proud to unveil a powerful new initiative designed to support those who’ve served our country: legal fee coverage by WBD up to $3,500 to Veteran-Owned Businesses applying for new SBA 504 loans. This benefit applies to businesses that are at least 50% veteran-owned, and it’s already making waves across our lending network.
This initiative is more than just financial support, it’s a statement of gratitude and commitment. By reducing the upfront costs of SBA 504 loans, WBD is helping veteran entrepreneurs access the capital they need to grow and thrive.
SBA Sacramento Center Steps Up for Veterans
SBA had previously offered support for veterans as they entered the world of business ownership in the form of funding programs, training, and federal contracting opportunities. (https://www.sba.gov/business-guide/grow-your-business/veteran-owned-businesses) However this has become a renewed point of emphasis with the current administration and in a complementary move, the SBA’s Sacramento Loan Processing Center recently announced the implementation of a priority review policy for 504 loan applications from businesses that are 51% or more veteran-owned. These applications are now reviewed within 24 hours (1 business day), a significant acceleration compared to the 5–7 business days for non-veteran applications.
This change reflects the SBA’s renewed focus on veteran entrepreneurship and aligns perfectly with WBD’s mission to empower those who’ve served.
Lending Partners Applaud the Effort
Our lending partners, banks and credit unions across Wisconsin and beyond are embracing these changes with enthusiasm as they too are always looking for new initiatives designed to assist veterans. The streamlined process and financial relief are already helping veterans move forward with confidence.
“We’re seeing real momentum with veteran-owned businesses,” said one lending officer. “This initiative not only honors their service but also makes financing more accessible and affordable.”
What’s Next?
WBD has updated its internal procedures to ensure smooth implementation, including underwriting flags, revised commitment letters, and marketing materials included with approval packets. Lending partners are encouraged to share this information with eligible applicants and reach out to the local WBD Loan Officer for guidance.
Together, we’re making a meaningful difference for those who’ve given so much.
