Programs that help veterans start up a business
While the U.S. Department of Veteran Affairs (VA) does not have a separate entity to source out business loans for its veterans, they provide financial aid through their cooperative programs with the Small Business Administration (SBA). Although some of these programs have ceased to exist since 2013, the federal government does have other options for veterans seeking financial aid for businesses.
SBA and VA programs
The SBA’s Office of Veterans Business Development has customized programs that reach out to veterans and their family and dependents to offer programs that involve business training and counseling as well as mentorship. The official website of this SBA unit details out the various government-funded programs and agencies to cater to the business needs of veterans.
Some of the most commonly used sources include the following:
Boots to business: This program offers classroom programs to veterans on the basics of business and directions in order to effectively kick-start a start-up.
Veterans business outreach center: These centers offers networking with nonprofit organizations that can help veterans transition smoothly into regular life and start a business or expand an existing one.
Dog tag bakery: This NGO program is focused on helping disabled veterans be a part of their exclusive education and business courses that can help veterans chart out a business from scratch.
All these programs are focused on a business life for veterans by not only teaching them the basics of business but also helping them build the required resources including sourcing of loans. Grants.gov is a one source website that can help find any form of financial aid required for veterans. This website provides a list of the available government grants and loans, specific details for qualifying for the grant, the loan application process, and helps connect with financial advisors who can aid through the whole funding process. There are also exclusive government loans which help veterans secure up to $2 million to set up a business under special circumstances. Getting on the website and building contacts through known sources will help filter out the best possible options as well as avoid any pitfalls from any scam programs.
