Veterans get access to capital

By Jessica Legge
Times West Virginian

FAIRMONT March 30, 2008 01:56 am

— Without the U.S. Small Business Administration’s Patriot Express loan program, J&E Technical Services LLC in Martinsburg “would have been folded.”
U.S. Navy veteran Jason Kuhn is part-owner and president of the company, which was started on Feb. 28, 2007. Evan Kranzley, who also owns a portion of J&E, serves as vice president.
J&E Technical Services does non-destructive testing for corrosion and cracking on airplanes, trains and buildings.
Since Kuhn was 16 years old, he had dreamed of having his own business. Kuhn, now 35, has had plenty of experience doing this type of work.
“I’d been doing it for the last 15 year of my life, so I decided to branch out on my own,” he said.
Around September of last year, Kuhn became the first recipient of the SBA’s Patriot Express loan in West Virginia. BB&T in Martinsburg was the lender.
“It has let me expand into being able to do X-ray, and from that we have expanded our capabilities 10 times over,” he said.
As a result, J&E Technical Services has gained more clientele and hired three more employees. Now, the business has a total of nine workers .
“The Patriot Express loan is the easier way for a business to expand,” Kuhn said. “You don’t have to go through the typical loan process. Plus, serving your time, it’s a benefit back to you for your (military service).”
The launch of the Patriot Express Loan Initiative was announced in June 2007 to coincide with Flag Day, said Rick Haney, public information officer for the SBA’s West Virginia District Office in Clarksburg.
The loan program is geared toward active or retired veterans and supports the business goals of returning service members.
The Patriot Express loan is designated specifically for veterans, service-disabled veterans, active-duty service members eligible for the military’s Transition Assistance Program, and reservists and National Guard members.
The ongoing program also applies to current spouses and widowed spouses of service members or veterans.
“Their purpose is to put capital into the hands of small business owners who happen to be veterans,” Haney said. “They’ve given so much for us that we’ve designed this program to give veterans more access to capital.”
Haney said this program is a way to give back to those people who fought for the country and put their life on the line.
“This is something that the administration of the SBA came up with to kind of repay our veteran community,” he said.
The loan is for persons who want to start or expand a business or need money for other business requirements, such as equipment, machinery or working capital.
More than 1,000 Patriot Express loans have been awarded across the country since the initiative was established last year.
So far, seven loans have been granted in West Virginia. Most of the loans have gone to veterans who need funds to grow their existing businesses, Haney said.
In addition to J&E Technical Services, other state recipients include The O LLC in Triadelphia, NCM Inc. in Buffalo, Tote About in Kenova, Hite Enterprises LLC in Martinsburg, Deborah Lemmerman in Hurricane, and M&M Trucking Inc. in Shady Spring.
“The Patriot Express loan seems like it was a stepping stone for him to grow,” Haney said of Jason Kuhn, West Virginia’s first recipient. “This kind of got him on the right path.”
These loans, which are available for up to $500,000, use a streamlined process and have a quick turn-around. Interest rates are negotiable with the lender.
The Patriot Express loan is only offered through approved lenders, which must apply and go through a formal certification process.
Nationwide, more than 700 lenders are participating in the Patriot Express program, including about 15 financial institutions in West Virginia. For a full listing of approved lenders, visit www.sba.gov/wv.
Haney said the Patriot Express Loan Initiative is an excellent program for veterans because these individuals tend to be disciplined and focused due to their military background. Those attributes are necessary in order to be a successful business owner and entrepreneur, he said.
For more information on Patriot Express loans, call Tom White, veterans affairs coordinator for the SBA’s West Virginia District Office, at 623-5631 ext. 233 or e-mail thomas.white@sba.gov.
E-mail Jessica Legge at jlegge@timeswv.com.