The Small Business Administration has several facets, which can make finding the best appropriate loan program tricky. Sometimes it takes a close look at the right niche to find the initiative that fits a business' plans. In a recent press release, the SBA highlighted its efforts to focus on women connected to the military who still want to start a business.
As the statement described, 383,302 women veterans were business owners in 2012, and that represents a potentially valuable population to pay attention to. The Women Veteran Entrepreneurship Training Program, administered through a subset of the SBA, awarded funding to three different programs from across the country.
The recipients were Bunker Labs, the Institute for Veterans and Military Families at Syracuse University and Lift Fund in Texas. As the names imply, these initiatives aim to help women veterans and families of others in the military.
"The SBA awarded funding to three different programs from across the country."
A Department of Defense report for the 2014 fiscal year said that the Air Force had the highest percentage of women Aircraftman, with this demographic accounting for 19.9 percent of commissioned officers and 18.7 percent of those enlisted. This may clearly leave room for the number to grow, but it also shows a significant amount of women in these areas who could potentially join the entrepreneur population.
In the SBA statement, Administrator Linda McMahon said that the disbursed funds will help the individual entrepreneurs as well as the overall U.S. economy.
"Funding these organizations involved in helping women veterans and military spouses establish successful businesses will go a long way towards securing the future for these women and their families," she said.
Growth Capital can lead owners through the process of finding government grants for small businesses that work for them specifically. To read more about one of these, the SBA 504 loan program, click here!