Which Are The Best Business Programs And Funding For Veterans?
A significant number of veterans are channeling their skills and leadership abilities from the military to start a new life by starting their own businesses. So, here are Some Amazing Tips For Startups! As a matter of fact, veterans with small-businesses are an important part of the US economy. Veteran-owned businesses make up for 7.5% of the country’s 5.4 million businesses with employees. However, there are still a number of veterans who need help to get back on their feet. So, let’s take a look at some of the best business programs and funding for veterans. Furthermore, do you know What Are Some Of The Best Charities For Veterans?
Table of Content
- 1 Business Programs And Funding For Veterans
- 1.0.1 #1 Veteran Owned Business at VA’s OSDBU
- 1.0.2 #2 StreetShares – Small Business Loans For Veterans
- 1.0.3 #3 Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
- 1.0.4 #4 Entrepreneurship Boot camp for Veterans with Disabilities (EBV)
- 1.0.5 #5 The Bunker – Startup Incubator
- 1.0.6 #6 Vocational Rehabilitation & Employment Program for Disabled Vets
Business Programs And Funding For Veterans
#1 Veteran Owned Business at VA’s OSDBU
If you run a small business, then register it at Veteran Owned Business at VA’s OSDBU. Upon registration, OSDBU (Office of Small & Disadvantaged Business Utilization) lists you in the VetBiz directory. After that, you become qualified for a number of government contract processes that are reserved for veteran-owned businesses. This certification also helps in qualifying for some veteran finance programs.
StreetShares offers loans from $5k to $100k to any business that has spent a year in the market. The loan repayment terms stretch from 3 to 36 months, with APRs that start from 8% and need a minimum revenue of $25,000. They also provide good, low-cost small business loans to any veteran-owned business or businesses owned by a veteran’s family member.
#3 Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
V-Wise is a training program for entrepreneurship and small business management. Small Business Administration sponsors the whole program. The program helps women veterans and female military spouses/partners learn new business skills necessary to turn a start-up into an enterprise. Its three-phase program includes a 15-day online course (Phase-I), a 3-day entrepreneurship training event (Phase-II), and mentorship, training and support opportunities for graduates beginning or expanding their business (Phase-III).
#4 Entrepreneurship Boot camp for Veterans with Disabilities (EBV)
The Institute for Veterans and Military Families at Syracuse University is behind the EBV program. Their goal is to create entrepreneurs by the end of their 3 phase program. The phase 1 includes a 30-day instructor-led online course, covering basics of owning and running a business. Their phase 2 is a 9-day residency at a host university, where students handle business issues first hand. Phase 3 is a 12 months ongoing support from EBV mentors. Moreover, the program covers travel expenses, lodging, meals, textbooks, program material and other costs.
#5 The Bunker – Startup Incubator
The Bunker is an incubator for the veteran-owned startups that are technology-based. For a period of 6 months, they provide an office space where you can work on your idea, talk to other fellow entrepreneurs, receive mentorship along with professional development. You also get a chance to talk to investors for capital.
#6 Vocational Rehabilitation & Employment Program for Disabled Vets
The U.S. Department of Veterans Affair is behind this program for the disabled veterans. However, the funding you can receive depends on the seriousness of your service-connected disability. Before they are given the funds, applicants have to submit a complete business plan. A veteran can receive grants to purchase supplies, inventory, licensing fees and other equipment.
If you are also looking for extra cash, here are The 7 Best Short-Term Investment Plans For You!