Easy VA Small Business Grants for 2021 – Veteran Business Grants Guide
The veteran-owned business represents 9.1 percent of all United States business. Getting the capital to launch a start-up can be difficult and time-consuming. This article is here to help summarize and simplify some of your options as a veteran-owned business seeking a grant or loan in 2021.
Here are some VA grant opportunities
The StreetShares Foundation: Supports the military entrepreneurial community with finical resources, education, grants, mentorship, and much more.
Link to StreetShares grant application page:
The Veterans Business Outreach Center (VBOC) Program is designed to provide entrepreneurial development services such as business training, counseling, and resource partner referrals to transitioning service members, veterans, National Guard & Reserve members, and military spouses interested in starting or growing a small business. The SBA has 22 organizations participating in this cooperative agreement and serving as Veterans Business Outreach Centers (VBOC).
To take advantage of VBOC’s assistance check out the link to their site, locate your region’s contact information, and call the office.
The Veteran Entrepreneur Portal (VEP) is designed to save you time with direct access to the resources necessary to guide every step of entrepreneurship.
Some of the resources they offer are:
- How to start a business
- How to Access Financing
- How to Grow Your Business
- How to Find Opportunities
- Resources for Veterans
- How to do Business with Federal Agencies
- Vets First Verification Program
- Doing Business With VA
- How to Franchising Opportunities
- Corporate Connections
- Training and Employment Programs
Check out their homepage to access their different resource pages.
Here is a great video overview of three different types of loan options.
Here is a great government resource explaining each of the following loan options in much greater detail
SBA Express Loan
SBA Express loans are a simple way to receive expedited, amortized government-guaranteed financing for your small business. Entrepreneurs can be granted up to $350,000 of capital in the form of either a term loan or line of credit.
SBA 7(a) Loan Program
The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan.
The purpose of the Military Reservist Economic Injury Disaster Loan program (MREIDL) is to provide funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met but is unable to meet because an essential employee was “called-up” to active duty in their role as a military reservist.