Leave us a Review on
Facebook Linkedin Twitter
Inquire Now!
You are here: Home / Small Business Tips / Small Business Loans & Programs For Veterans

by 247 Comments

After serving their country, many veterans come home looking to open and run their own businesses. A 2012 U.S. Census Bureau Survey of Business Owners found that there are 2.52 million veteran-owned businesses in the U.S. Considering this study was conducted in 2012 and released in 2015, this number has most likely grown over the past few years. 

There are a number of resources available to our military service members including small business loan programs for veterans, educational workshops, mentorships, and training. These programs are great tools to not only help veterans get small business loans but to help them build their businesses.

Loan programs for veterans and their families

The SBA offers two veteran-specific programs that help veterans get a small business loan. 

  • SBA Veterans Advantage: This is a type of 7(a) loan, and this program offers discounts to the guarantee fees for veteran business owners on their loans. The 7(a) loan programs offer a quick turnaround with approval and funding occurring in 5-10 business days.
  • The Military Reservist Economic Injury Disaster Loan Program (MREIDL): If a veteran-owned business is adversely affected because the owner(s) are called to active duty, this program offers up to $2 million to help cover the expenses and the costs of running the business. 

To be considered a veteran-owned business, the business must be 51% owned and managed by an active duty service member, a veteran, a widow(er) of a veteran, or spouse of a veteran. 

Additional resources for veterans

The Office of Veterans Business Development (OVBD) is involved in all aspects of assisting veterans in opening small businesses. One organization that helps veterans gain the knowledge they need to build their business is The Veterans Business Outreach Centers (VBOC). There are centers throughout the country offering workshops, mentorships, training, and consultations. 

Other programs exist for more specific veteran groups, including the Women Veteran Entrepreneurship Training Program (WVETP), and the Service Disabled Veteran Entrepreneurship Training Program (SDVETP), as well as programs that assist veterans and their families in creating their business vision and bringing it to life.

If you are a veteran looking to find funding for your small business, Growth Capital can help. Discover how the Community Advantage and SBA Veterans Advantage loan programs can help you make your business dreams a reality. 

Talk to one of our lending experts today at (216) 592-2332 or visit us online.

Reader Interactions

Comments

  1. 제주출장마사지 says

    I’d like to express my heartfelt appreciation for this insightful article. Your unique perspective and well-researched content bring a fresh depth to the subject matter. It’s evident that you’ve invested considerable thought into this, and your ability to convey complex ideas in such a clear and understandable way is truly commendable. Thank you for sharing your knowledge so generously and making the learning process enjoyable.

  5. 제주출장마사지 says

    I can’t help but be impressed by the way you break down complex concepts into easy-to-digest information. Your writing style is not only informative but also engaging, which makes the learning experience enjoyable and memorable. It’s evident that you have a passion for sharing your knowledge, and I’m grateful for that.

  7. 창원출장안마 says

    This article resonated with me on a personal level. Your ability to emotionally connect with your audience is truly commendable. Your words are not only informative but also heartwarming. Thank you for sharing your insights.

  9. 창원출장마사지 says

    I’ve discovered a treasure trove of knowledge in your blog. Your unwavering dedication to offering trustworthy information is truly commendable. Each visit leaves me more enlightened, and I deeply appreciate your consistent reliability.

  27. games says

    It is perfect time to make some plans for the future and it’s time to be happy.
    I have read this post and if I could I wish to suggest you few interesting
    things or suggestions. Perhaps you could write next articles referring to this article.
    I desire to read more things about it!

  88. play says

    What’s up everybody, here every person is sharing these experience, thus it’s good to read this blog, and I used to pay a quick visit this
    webpage daily.

  187. online games says

    You really make it seem so easy with your presentation but I
    find this matter to be really something that
    I think I would never understand. It seems too complicated and extremely
    broad for me. I am looking forward for your next post,
    I’ll try to get the hang of it!

  194. play says

    I’m impressed, I have to admit. Seldom do I encounter a blog that’s both educative and amusing, and without a doubt, you’ve hit the nail on the head.
    The issue is something which too few people are speaking intelligently about.
    I’m very happy I found this in my hunt for something concerning this.

  219. video porno says

    I like the helpful information you supply in your articles. I?ll bookmark your weblog and check again here frequently. I am reasonably certain I?ll learn many new stuff right right here! Good luck for the next!

  226. Health News says

    http://www.spotnewstrend.com is a trusted latest USA News and global news provider. Spotnewstrend.com website provides latest insights to new trends and worldwide events. So keep visiting our website for USA News, World News, Financial News, Business News, Entertainment News, Celebrity News, Sport News, NBA News, NFL News, Health News, Nature News, Technology News, Travel News.

  229. BIMAKAVACH says

    You actually make it seem so easy with your presentation but I find this matter to be really something that I think I would never understand. It seems too complicated and extremely broad for me. I’m looking forward for your next post, I will try to get the hang of it!

  235. offerwall says

    Good day! This is kind of off topic but I need some
    guidance from an established blog. Is it hard to set up your own blog?
    I’m not very techincal but I can figure things out pretty quick.
    I’m thinking about setting up my own but I’m not sure where to begin.
    Do you have any points or suggestions? Thank you

  237. Fashion says

    The following time I learn a blog, I hope that it doesnt disappoint me as a lot as this one. I mean, I know it was my choice to read, but I actually thought youd have one thing interesting to say. All I hear is a bunch of whining about something that you would repair in the event you werent too busy looking for attention.

  240. free Live Sex Porn site says

    May I simply just say what a relief to discover somebody who truly understands what they’re discussing on the internet.
    You definitely understand how to bring a problem to light and make it important.
    More and more people should look at this and understand this side
    of the story. I was surprised that you are not more popular since you surely have the gift.

Leave a Reply

Your email address will not be published. Required fields are marked *