Unlocking Opportunities: A Guide to Business Grants for Veterans

Transitioning from military service to civilian entrepreneurship can be challenging, but veterans have a unique advantage: a wealth of resources dedicated to supporting their business endeavors. Whether you’re starting a new venture or expanding an existing one, Veteran Business Grants and programs are available to help you succeed.

Government Grants and Programs

1. Federal Grants via Grants.gov
   The federal government allocates annual grant funding to support small businesses, with special preferences for veterans, disabled veterans, and Native Americans. These grants are non-repayable and can provide the financial boost needed to launch or grow a business. Applications are submitted through Grants.gov, where you can search for opportunities tailored to your business’s needs and location.
2. SBA Veterans Advantage Loans
   For veterans with a credit score of 680 or higher, the Small Business Administration (SBA) offers expedited loans up to $350,000 through its Express Loans program. These loans are backed by the federal government, ensuring competitive rates and quick processing times.
3. Service-Disabled Veteran-Owned Small Business (SDVOSB) Program
   Veterans with service-related disabilities can benefit from the SDVOSB program, which reserves a portion of federal contracts specifically for certified SDVOSBs. This initiative helps veteran entrepreneurs secure government contracts, providing a steady revenue stream for their businesses.

Private Sector Grants and Support

1. StreetShares Foundation
   StreetShares offers a monthly grant competition where veteran entrepreneurs can submit their business ideas for a chance to win grants ranging from $2,000 to $5,000. Winners are selected based on community votes, providing not only funding but also visibility for their businesses.
2. VetFran
   VetFran assists veterans and their spouses in exploring franchising opportunities across the country. With over 650 participating franchise brands, VetFran provides veterans with discounts, mentoring, training, and other resources to help them succeed in the franchising world.
3. Hiring Our Heroes Small Business Grant Program
   This program awards $10,000 grants to five veteran or military spouse-owned businesses with 3 to 20 employees and under $5 million in annual revenue. The grants aim to support businesses located in economically vulnerable communities.

Niche and Industry-Specific Opportunities

1. Farmer Veteran Coalition Fellowship Fund
   For veterans interested in agriculture, the Farmer Veteran Coalition offers the Fellowship Fund, which has awarded millions in grants to veterans pursuing careers in farming and ranching. This initiative helps veterans transition into agricultural entrepreneurship.
2. FedEx Entrepreneur Fund
   In collaboration with Hello Alice, FedEx awards $10,000 grants to military-connected small business owners. The program also provides educational resources to help entrepreneurs grow their businesses.

Tips for a Successful Application

Research Thoroughly: Explore various grant opportunities to find those that align with your business goals and eligibility.

Prepare Documentation: Ensure you have all necessary documents, such as your DD214, business plan, and financial statements, ready for submission.

Follow Instructions Carefully: Each grant application may have specific requirements; adhere to them to increase your chances of success.

Seek Assistance: Utilize resources like the SBA’s Office of Veterans Business Development for guidance and support throughout the application process.

Veterans possess a wealth of skills and experiences that make them exceptional entrepreneurs. By leveraging the numerous grants and programs available, you can turn your business aspirations into reality. The journey may require persistence, but with the right resources and determination, success is within reach.