Small Business Grants For Veterans

Small Business Grants For Veterans? A very interesting term that will help veterans to start a business so that it does not depend on others in fulfilling their lives. With grants, especially from the government and other funders, this shows the concern of the United States government and related parties to help veterans remain independent.

(Photo: startups.com)

In general, the term grant is a form of giving something to others that is desired voluntarily. In addition, according to another sense, a grant is a gift by a living person to another person free of charge and irrevocably, for movable or immovable property.

Grants provide many benefits, especially for the recipient, one of which is that the recipient can feel happiness from the results of the gift he gets. One of the benefits that can be obtained is that when someone or one party provides a grant in the form of working capital assistance, of course, this will greatly help those who get the grant.

Grants For Veterans To Start A Small Business

For veterans, being able to start a business, even if it's just a small business, is a matter of pride. And it is more proud when there is attention from the United States Government or related parties so that they can start a business.

In addition to government assistance, there is another interesting point, according to the World Bank's 2020 Doing Business report, "Starting and registering a new business in the United States takes an average of only four days."

With the ease of opening a business, this is one of the reasons entrepreneurship is the backbone of the US economy.

There are interesting things about grants for veterans to start a small business (bankrate.com), including:

• Veteran business owners have more difficulty obtaining capital than non-veteran business owners
• Grants for veterans are available from a variety of sources, including nonprofits and corporations
• In addition to grants and funding, certain resources offer mentorship, workshops, and training of veteran business owners

According to the U.S. Census Bureau, "Veteran-owned businesses play an important role in the economy in the United States. Veterans owned 5.6 percent of all U.S. businesses in 2020, employed 3.6 million people, and generated nearly $1 trillion in revenue."

There are many federal, state, and private organizations offering small business grants to veterans, including:

1. Warriors Rising Small Business Grants

Warriors Rising is a nonprofit organization founded by veterans in 2015 that offers small business grants and mentorship to veterans and their immediate family members.

Its members are called "Veterepreneurs" and undergo a six-step process that includes Zoom training sessions and one-on-one mentorship.

2. Grants.gov

Grants.gov is an online database where you can search for various federal grants. Grants are offered by several government departments, including the U.S. Department of Veterans Affairs and the U.S. Department of Defense.

3. Small Business Innovation Research program

While not specifically for veterans, the program offers great opportunities for entrepreneurial veterans with new ideas. The Small Business Innovation Research Program (SBIR) offered funding in two rounds: $150,000 in the first round and up to $1 million over two years in the second round.

4. Veteran Readiness and Employment

Veterans Readiness & Employment (VR&E) is a program aimed at helping veterans with service-connected disabilities find work as they return to civilian life. The self-employment program is designed to help veterans start businesses and offers assistance with business planning, training in marketing and finance, and other support.

5. Maryland Military Personnel and Veteran-Owned Small Business Loan Program

The Maryland Military Personnel and Veteran-owned Small Business Loan Program (MPVOLP) is a program that offers interest-free loans of up to $50,000 to companies owned by veterans, Reservists, and National Guard members who are called up to active duty.

While this is not a grant, interest-free loans can be a boon for start-ups that need additional funds.

6. Stephen L. Tadlock Veteran Grant

Founders First supports diverse business owners by providing small business growth, coaching, and grant programs for veterans. In honor of U.S. Navy veteran Stephen L. Tadlock, brother of Founders First CEO Kim Folsom, the grant awarded $1,000 to 25 veteran-owned businesses nationwide.

7. Michigan Veteran Entrepreneur Lab

The Michigan Veteran Entrepreneur-Lab (MVE-LAB) offers a three-month accelerator for veteran-owned businesses and military spouses. Participants get hands-on education on how to run a business and can win up to $20,000 in grant money after pitching their business during the program's pitch fair.

8. Second Service Foundation

Second Service Foundation grants allow participants to present their business before a group of judges.

The Second Service Foundation, formerly the StreetShares Foundation, is a non-profit organization that helps veterans create or grow their businesses by providing funding through its grant program – the Military Entrepreneur Challenge.

9. VetFran

VetFran is an organization that helps match veterans with franchisors looking to expand their business. Typically, new franchisees need to pay high fees to buy a franchise and start their business, but companies that work with VetFran offer discounts and other assistance to veterans looking to get into business.

10. Texas Woman's University Veteran Woman Grant

The Texas Woman's University Veteran Woman Grant awards $5,000 each to 25 different recipients each year. The program focuses exclusively on female veterans living in Texas and runs once each year.

That's a little information about "Small Business Grants For Veterans". Hopefully, this information is useful for you veterans who are looking for information to be able to get grant assistance to start your small business.

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