Four Business Funding Options for Veteran EntrepreneursApril 6, 2016 by Bennett Tanton | 3 Comments
One of the most challenging issues that entrepreneurs face is finding funding and this is no different for veteran entrepreneurs. Here are four resources that can help veteran entrepreneurs possibly find much needed money to start or grow their businesses.
The Veterans Opportunity Fund
The Veterans Opportunity Fund is a multi-stage venture capital fund that was formed to invest in veteran owned businesses in need of growth capital. They are investing up to $3 million in high-growth veteran-owned companies.
Hivers & Strivers
Hivers and Strivers is an angel investment group focusing on early stage investments to support start-up companies founded and run by graduates of the U.S. Military Academies. Most of their investors have served in the military and are successful senior executives with experience in a broad range of industries and business models.
StreetShares is a social lending marketplace that connects small business owners with investors. Small business owners create business pitches to request loans from institutional and retail investors. Investors make bids to back portions of the loans to the small business. The end result: Small business owners get the loans they need, and investors get the returns they require.
Service-disabled veterans can connect with a self-employment program offered through the Veterans Administration. This is through The Vocational Rehabilitation (VR&E). Veterans are required to submit a feasible and complete business plan. Veterans will be designated a category of either I or II. Category I have the most severe service-connected disabilities and self-employment is considered a viable option. Category II is designated for veterans with serious employment challenges but not considered severe. Depending on your category you can receive a grant to buy equipment, inventory, supplies, training, licensing fees and marketing. If you want to apply either contact your local VA Benefits Reginal Office or apply online.
We have the ability to continue our service to our communities by employing people, providing products that enrich lives and setting an example to other veterans that entrepreneurship is a viable option for vets. This is not an exhaustive list of resources by any means but it may give you a good start. As always check out our resources page at that may help guide you on your journey into entrepreneurship. Also, feel free to contact me with questions and if I cannot answer them directly I will find someone that can.