Patriot Express Authorization Act of 2011

[AI summary unavailable — showing source text] Patriot Express Authorization Act of 2011 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish a Patriot Express Loan Program to guarantee loans made by express lenders to eligible members of the military community. Includes as eligible members: (1) a veteran, including a service-disabled veteran; (2) a member of the Armed Forces on active duty who is eligible to participate in the Transition Assistance Program; (3) the spouse of the above individuals; (4) the widowed spouse of a deceased veteran or member who died due to a service-connected disability; and (5) the widowed spouse of a deceased member to whom the Department of Defense (DOD) may provide for the recovery, care, and disposition of the remains of an individual who died while on active duty or during inactive-duty training. Allows such loans to be used for any business purpose. Limits: (1) individual loans to $1 million, and (2) the loan fee charged to 75% of that charged for SBA general small business loans. Requires the Director of the Office of Management and Budget (OMB) to coordinate with the heads of executive departments and independent establishments …