How to get business funding for veterans to start a business and lead a decent lifestyle

Following their exit from military service, veterans often find it difficult to adjust back to civilian life, particularly if their military service was of longer duration. It can be even more difficult for disabled veterans to adjust, as they may find that they are not able to perform the physical requirements associated with some jobs.

Fortunately, there are non-profit organizations and government agencies around the country that recognize this problem and offer grants to help veterans acquire the resources needed to start their own small businesses, including disabled veteran business grants. This article will survey some of the best-known funding opportunities available to ex-military personnel wishing to start up their own business.

Small Business Grants

The federal government makes grant funding available every year, in different amounts, to each state. These funds are intended for small business owners and startups, with special preference now being given to three primary groupings: Native Americans, veterans, and disabled veterans. Additional preference is given to individuals who intend to locate their businesses where there is an existing need in the community, as opposed to a large city setting, where there might already be a wealth of similar companies and far less community need. The great thing about grants is that they do not need to be paid back. These small business grants for veterans can give individuals the ability to transition into a new career and a new life. U.S. Department of Veterans Affairs

The U.S. Department of Veterans Affairs offers VA small business grants, loans, government contracting opportunities, and other business funding for veterans who are looking to start or expand their small business. They may also be able to assist with information on small business grants disabled veterans can qualify for. While the VA is a government agency, there are also many non-profit organizations and for-profit businesses that offer grants for veterans starting a business. Some private companies offer veteran business grants as a way of giving back to those who have served our country. StreetShares

StreetShares is an organization which provides small business loans for veterans to help companies which have survived the crucial one-year startup phase, and are in need of funding for continued growth. StreetShares is committed to making low-cost loans available to veterans or families of veterans, in amounts ranging between $5,000 and $100,000, which can be repaid within three years.

StreetShares also has a unique cash award program that they offer monthly to veteran business owners. To qualify, you’ll need to apply online with your business idea, business background information, your intended use of the funds, and the effect your business will have on the local community. Applicants are profiled monthly on the StreetShares website so that visitors can vote for the most appealing submissions. Each month, the top three finishers are awarded free-and-clear grants of $5,000, $3,000, and $2,000.

VetFran

VetFran helps veterans and their spouses become involved in franchising opportunities all around the country, with more than 650 different franchise brand possibilities. You can apply at the VetFran website, and you will be contacted and interviewed to determine whether franchising might be a good fit for you. If so, you will be advised about which kinds of franchising opportunities are available to see if any of them interest you. Discounts, mentoring, training, and other resources are provided to veterans who fit the franchising profile.

SBA Veterans Advantage Loans

. This initiative is linked to the government’s Express Loans Program, which can expedite loans backed by the federal government of up to $350,000. If you qualify (a credit score of 680 or better will likely be necessary) you’ll have a response to your application within three days, and you can quickly invest in your small business. In addition to veteran-owned business grants, small business loans provide an opportunity to access the capital you need to get started.

Hivers and Strivers

This is an angel investment group which caters to veteran businesses in their early phases of development. They are owned/operated by military academy graduates. Typical first-round investment offerings range between $250,000 and $1 million, with larger sums potentially available from the network of investors involved with the firm.

Getting Started

The above list displays only a few of the opportunities that offer grants for veterans to start a business. Not knowing where to start, many people search for “Business grants for veterans USA” and quickly realize there is an astounding amount of veteran owned business grant opportunities available. The process of researching and vetting each grant can be a tedious and daunting task. Our team has done this research for you, so that you can easily locate the grant opportunities you qualify for, bringing you one step closer to achieving your business goals. Apply today to get started!