Grants For Disabled Veterans Small Business

Taking Advantage Of The Veterans Small Business Enhancement Act

Another federal government policy that aims to give veteran business owners a better opportunity to succeed is the Veterans Small Business Enhancement Act. This act allows veteran business owners the ability to get surplus equipment directly from the federal government.

The catch? Theres no catch, its 100% FREE. These are items that would otherwise go unused, so it makes sense that were putting them to use by handing them over to deserving veterans.

A Guide To Small Business Loans For Veterans

• Why Funding Circle

Finding capital to grow a small business is not for the faint of heart it can be a daunting endeavor. And oftentimes, securing a small business loan can be even more challenging and complex for veterans due to potential gaps in financial history or being called in for active military duty.

With this in mind, weve created a guide to financing for veteran owned businesses. The business loans and grants outlined below are just some of the many opportunities available to help veterans start, grow, and/or sustain their business. Lets take a closer look at the options available to this community.

Our Top Business Grants For Veterans:

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Small Business Innovation Research And Small Business Technology Transfer Programs

The SBIR and SBTT programs offer small-business grants to veteran-owned businesses that are looking to contribute to federal research and development. The Small Business Administration coordinates these two programs, and 11 federal agencies list grant opportunities on the SBIR website. Funding amounts vary based on the individual grant.

To qualify, you must have a for-profit business focused on technological innovation and research with the intent of commercialization. Your business must also be U.S.-based and have no more than 500 employees.

Women Veteran Entrepreneurship Training Program

The nonprofit community development organization LiftFund sponsors the Women Veteran Entrepreneurship Training Program. WVET offers in-person and online small business training and consulting for women veterans starting or operating small businesses in the State of Texas.

LiftFund also provides small business loans ranging from $500 to $500,000 for small business owners in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Tennessee, and Texas. The lender offers discounted interest rates for veterans and their spouses.

The loan program is intended to provide funding for:

• Commercial real estate purchases
• Working capital

To apply for a loan, you need to complete an online application. Be prepared to share your business goals and needs, monthly household and business budget, credit history, and two references as part of the application process. The organizationâs website has several tools and resources to help you prepare your business financials or projections, create a business plan, estimate startup expenses, and more.

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How To Find Out If You Qualify For A Grant Or Assistance

Are you a veteran who is wondering whether they would even qualify for business assistance? Luckily, there are several programs that you can look into. The first step should be to contact the local Office of Veterans Business Development to learn more about the most accessible resources available for your entrepreneurship journey.

You can explore grant eligibility at Grants.gov or check out USA.gov for specific government benefits info and to determine whether you qualify. Most assistance programs will consider certain qualifying factors like creditworthiness, and some may provide preferential treatment to more established businesses, but you can usually find a veteran business assistance program that fits your needs.Here are a few places to track down small business grants for veterans.

Funding For Personal Assistive Devices

Finally, workers may sometimes bring assistive devices they already own to use in the workplace. Ontario residents with physical disabilities lasting for at least six months can receive funding for such personal devices through the Assistive Devices Program . ADP is an Ontario government program that provides 75 percent of the cost of equipment, including:

• Mobility aids, such as wheelchairs, scooters, walkers, crutches, or positioning supports
• Hearing devices, such as hearing aids, FM systems, or teletypewriters
• Visual aids, such as white canes, specialized glasses or magnifiers, or computers with specialized hardware or software like Braille displays or screen readers
• Communication aids, such as voice amplifiers, communication boards, or computers with specialized hardware or software like mouse alternatives or text-to-speech software

The other 25% of the cost may be available through the Ontario Disability Support Program or Ontario Works. An authorizer assesses an applicantâs individual needs and recommends which devices a person could find most useful. People may apply for new devices every five years. ADP does not fund devices for people receiving similar funding through WSIB, or to Group âAâ veterans as defined by Veterans Affairs Canada.

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I Veterans Business Resource Center

Veterans Business Resource Center is here to help vets translate the skills they learned during service into small business ownership. The cornerstone of their program is training for vets and they help with understanding business plans, financials, marketing, sales, human resource management, and more. They also offer webinar and professional counseling.

Best Business Resources For Service

The Service-Disabled Veteran-Owned Small Business Program is an offshoot of the SBA that aims to allocate a percentage of federal contracting dollars toward supporting veteran-owned businesses. Essentially, this program gives access to set-aside contracts to even the playing field and allows these small businesses to compete for government contracts.

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The Top 8 Grants For Veteran Small Business Owners

The first step to getting a grant for your new or growing business is to find the right one for you and your business needs. Here are some of the best grant programs and business funding programs available to veterans â weâll explore each in more detail later in the article.

Sba Loans For Veterans

There are many different types of Small Business Administration loans, all of which are available to veterans. The SBA partners with intermediaries to provide low-cost, government-backed loans to small businesses. By providing a guarantee the SBA reduces risk for lenders and makes borrowing capital more accessible and manageable for entrepreneurs. Preparation is key when it comes to SBA loans if youre a veteran entrepreneur, as it can take as long as six months to get funds in your bank account.

The Small Business Administration offers two programs that are specifically designed for veterans: The SBA Veterans Advantage and the MREIDL VA loan.

The MREIDL program

The Military Reservist Economic Injury Disaster Loan program is a VA loan program that provides working capital to cover ordinary and necessary operating expenses when an essential employee is called to active duty. The interest rate is capped at 4% and offers terms of up to 30 years . Keep in mind: collateral is required for all MREIDLs over $50,000.

Am I eligible for SBA VA business loans?

According to the SBA, businesses must be at least 51% owned and controlled by an individual in one or more of the following groups to qualify:

In addition, businesses must be for-profit, have fewer than 500 employees, and have less than $7.5 million in annual sales.

What can a VA loan be used for?

• Equipment purchases
• Buying commercial real estate
• Funding startup costs

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Service Disabled Veteran Owned Small Business Grants

Service Disabled Veteran Owned Small Business Grants United States government is focused on providing the best service for the service-disabled veteran. As you know, getting a job or starting a new business can be a bit hard for these people. Therefore, the United States government through the Small Business Administration provides some aid to help these people to start and grow their own small business.

The Service Disabled Veteran Owned Small Business Grant program is a grant program which was creates consistently to the Public Law 109-461. The Veterans Administration and the Small Business Administration work together managing the grants. This post will be focusing on that, providing information about the grant process, requirements, etc.

Service-disabled veteran-owned small businesses are the top priorities of the Small Business Programs provided by the VA and SBA. People in this category are highly encouraged to participate in the grant award process.

C Small Business Development Centers

The SBA also runs Small Business Development Centers across the country. Theyâre often hosted by top universities state economic development agencies, which share the cost with the SBA.

They offer free business consulting and low-cost training services including:

• Business plan development

You can find the SBDC in your state here.

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Business Grants For Veterans / Business Funding For Veterans

Following their exit from military service, veterans often find it difficult to adjust back to civilian life, particularly if their military service was of longer duration. It can be even more difficult to adjust for disabled veterans, who may find that they are not able to perform the physical requirements associated with some jobs.

Fortunately, there are non-profit organizations and government agencies around the country which recognize this problem, and offer funding and grants to help veterans acquire the resources needed to start their own small businesses. This article will survey some of the best known funding opportunities available to ex-military personnel wishing to startup their own businesses.

Va Medical Bills Assistance Programs

Veterans suffering from service-connected injuries, and even veterans with disabilities incurred off-duty, can apply for this grant which helps them pay off medical bills.

You may have to co-pay for healthcare, depending on the specific condition and level of disability but the remaining bulk of the medical bill is borne by the VA department.

To be eligible for this grant for disabled veterans, you should fulfill the military service requirements, and undergo an income verification process. If you already have a private health insurance policy, then you may be exempt from co-paying on the bills completely.

Visit the official US Department of Veteran Affairs website or the nearest VA office close to you for additional information on eligibility and application process.

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State Business Grants For Veterans

Contact your local chamber of commerce to see if they have any ideas about state or even local grants for veteran entrepreneurs. These grants, their terms, and their application process will vary from state to state and city to city so its best to just start at the local level in terms of gathering information, or with the states department of commerce.

Here are some examples of state small business grants for veterans:

California Veterans Benefits

If you live in the Golden State, there are California veterans benefits such as small business grants, some of which are geared towards veterans. There are also grants associated with Covid-19 relief if your veteran-owned business has been negatively impacted by the lockdowns and quarantines.

Florida Veterans Benefits

In the Sunshine State, there are Florida veterans benefits like grants for veteran business owners, noteworthy among them opportunities with the Florida High Tech Corridor Grant, which partners with the University of Central Florida and the University of South Florida.

New York Veterans Benefits

There are also veterans grants in New York State, among many other New York veterans benefits. Some of these available grants are actually geared towards other demographics such as women-owned businesses, but if youre a veteran and fall into one of those other demographics, you can take advantage of that as well.

Ohio Veterans Benefits

Pennsylvania Veterans Benefits

Texas Veterans Benefits

Best For Young Veteran Entrepreneurs: Hivers And Strivers

Funding amount: $250,000-$1,000,000

Hivers and Strivers provides funding for US Military Academy graduates to launch startups through a network of investors. The mission of this organization is to support young veterans in creating successful businesses that will provide at least 10x a return on their investment.

Young veteran entrepreneurs with a business idea that has promise for high growth potential may secure funding through this network of angel investors to launch their startup idea.

To apply for Hivers and Strivers funding, you need to meet the following criteria/eligibility requirements:

• Applicants must have graduated from a US Military Academy.
• Applicants must provide a business idea with exceptional growth potential.
• Applicants cannot be dishonorably discharged.

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Small Business Loans For Veterans From Funding Circle

If you are a veteran with an existing business of two years or more, Funding Circle is another option for financing. Were committed to offering:

• Best-in-class service with a dedicated account manager
• Fixed annual interest rates with a consistent, once-monthly payment over the life of your loan
• Transparent, competitive interest rates and a simple, one-time origination fee

Below are some FAQs on our peer-to-peer marketplace and eligibility requirements.

Additional Resources For Veteran Entrepreneurs

Financing advice and business training can be highly beneficial for veterans looking to start or grow their businesses. Finding organizations that focus on vets-turned-entrepreneurs or working with business mentors who have transitioned out of the military can be particularly helpful.

Here are some resources for veteran-owned businesses.

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Grants For Disabled To Start A Business

Being disabled may make it more difficult to be hired into certain positions at companies around the country.

But that doesnt mean there are no options to consider. Many people who are disabled find that they have success starting their own business. While it may seem like an uphill battle to do so its good to know that there are grants for the disabled to start a business.

No matter what type of business you would like to start there are going to be expenses to help get it off the ground. Keep in mind, however, the old saying that it takes money to make money.

When you put in the money to start your own business you will have an income source, and by getting grants for disabled to start the business you will find that its achievable.

There are no limits to the number of grants for disabled people that you can apply for when it comes to starting your business.

Its a good idea to apply for as many as you can, so that you can secure all the funding you need to get started. This way you will also ensure your business is properly funded from the start, which will help make it more successful.

Street Shares Foundation Veteran Small Business Award

Veteran business owners may be interested in applying for a grant through the nonprofit Street Shares Foundation. The organizations grant program, the Veteran Small Business Award, provides three different grants through its Military Entrepreneur Challenge:

• First place: $15,000
• Second place: $6,000
• Third place: $4,000

On top of the cash awards, the first-place recipient gets to take advantage of $25,000 worth of pro-bono legal service. Each finalist also receives a $1,000 scholarship to the Synergy Learning Institute. First, second and third place winners receive bigger scholarships ranging from $3,000 to $10,000.

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Sba Patriot Express Loan

The SBAs primary goal is to assist owners of small businesses, and veterans may also be able to benefit from a veteran small business loan through the organization. The SBA Patriot Express Loan program began in 2007 to directly assist veteran business owners, but it ended in 2013. The program provided more than $633 million to veteran businesses through simplified loans with low interest rates in its first four years.

While this program is no longer available, veteran business owners should consider using the SBA Express Loan program, also known as SBA 7 loans, which we detail below.

State And Local Government Programs

Some states have government programs that assist veteran business owners. Check with your local chamber of commerce to see what grant opportunities are available.

For example, the Maryland Department of Commerce has the Military Personnel and Veteran-Owned Small Business Loan Program , which gives no-interest loans to vets that have one-year to eight-year terms.

The no-interest loans range between $1k and $50k. To be eligible, you must be a veteran, national guard, or military reservist small-business owner with fewer than 50 employees.

Another option is to check with your citys or states Economic Development Administration to find grants and other funding sources. Additionally, there are universities that offer funding to small- business owners.

For example, Texas Womans University has the Veteran Women Entrepreneur Grant that gives $5k awards to female vet entrepreneurs. The annual grant funds 10 business owners in the state. The money can be used for business expenses like technology, marketing, and equipment.

To qualify, the company must be at least 51% owned or controlled by women, operate in Texas, and meet other criteria.

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