Business Grants for Veterans

By Roz Calvert

Business grants for veterans are not readily available, though there is a lot of help out there for veterans of the U.S. armed services who wish to begin a business or improve their business forecast. Most of the business assistance available to veterans is either a loan or business education information, from private or government bodies. The U.S. Department of Veteran Affairs, working through the U.S. Small Business Association, offers feasibility and business planning assistance and loans to veterans starting businesses.

The Veterans Administration (vetbiz.gov), in conjunction with the U.S. Small Business Association (sba.gov), assists veterans with business loans through the Patriot Express program, administered by SBA. Information about the Patriot Express program can be found at sba.gov/patriotexpress.

Some states offer resident vets benefits that can include business assistance, usually loans and guidance. Because state laws change, it is good to keep track of the benefits your state offers. Individual state benefits programs for veterans can be found at military.com.

Veterans may be eligible for grants that are not intended exclusively for them. It is worth looking at federal, state and private grant-making sources to determine if a grant may be right for your business idea whether the grant is for veterans. The Foundation Center (foundationcenter.org) is a good resource for finding out about both private and government grants for many undertakings and enterprises. The Department of Health and Human Services website (grant.gov) lists many federal grants.

VetFran (vetfran.com) is a program some veterans may find helpful when starting a business. The organization helps veterans secure discounts when they purchase franchise operations in such corporations as 7-Eleven Inc., Little Ceasars Enterprises Inc. and AAMCO Transmissions Inc.

Veterans can explore business ownership, or expand an existing business or seek government contracts through the Veterans Entrepreneurship and Small Business Development Act of 1999 (PL106-50). The act created a partnership among the VA, the Small Business Administration (SBA) and the Association of Small Business Development Centers (SBDC) to help qualified vets with their business enterprises. The partnership does not, however, extend business grants to veterans.

Veterans who own businesses are often brought together through the efforts of not-for-profit organizations and through business associations they form themselves. The networking done in business associations is a way for grant-seeking veterans to expand their knowledge about funding opportunities.

http://www.lenderva.com