In time for Veterans Day today, the U.S. Small Business Administration has announced the removal of the up-front borrower fee for veteran loans up to $350,000, which account for 73 percent of all SBA loans that go to veterans.

The initiative under the SBA Express program is scheduled to start Jan. 1 and continue through the end of fiscal year 2014.

“Our nation’s veterans are highly skilled and highly trained leaders in their communities,” said Acting SBA Administrator Jeanne Hulit.

“This initiative will set fees to zero for SBA Express loans to veterans up to $350,000, and is part of SBA’s broader efforts to make sure that veterans have the tools they need to start and grow a business. As we honor our veterans and thank them for their service and sacrifice, let’s continue to identify ways to support them when they come home.”