MINNEAPOLIS--(BUSINESS WIRE)--July 10, 2007--U.S. Bank is offering
the new Small Business Administration (SBA) Patriot Express loan
through all of its 2,498 banking offices in 24 states. The Patriot
Express loan helps veterans, members of the military community and
their spouses or widows establish or expand their small businesses.
Eligible military community members include: veterans,
service-disabled veterans, active-duty service members who are
eligible for the military's Transition Assistance Program, Reservists
and National Guard members, current spouses of any of the above or the
widowed spouse of a service member or veteran who died during service
or of a service-connected disability.
"U.S. Bank has been a leading SBA lender for decades. Our
extension of the SBA Patriot Express loan through U.S. Bank offices is
a natural step in helping America's service men and women, and their
families, sustain business ventures during or after they have served
our country on deployment," said David Bartram, president of U.S. Bank
SBA Patriot Express loans with U.S. Bank are available up to
$500,000 and qualify for the SBA's maximum guaranty of up to 85
percent for loans of $150,000 or less, and up to 75 percent for loans
of $150,001 to $250,000. Loans can be used for most business purposes,
including start-up, expansion, equipment purchases, working capital,
inventory or business-occupied real-estate purchases.
U.S. Bancorp (NYSE:USB), with $221 billion in assets, is the
parent company of U.S. Bank, the 6th largest commercial bank in the
United States. The company operates 2,498 banking offices and 4,837
ATMs, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. Visit U.S. Bancorp on the
web at www.usbank.com.
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
SOURCE: U.S. Bank