Business Startup Help for Veterans

Take advantage of loans, education, and free advice

By Holly Ocasio Rizzo, Writer and editor, Holly Ocasio Rizzo

Serving those who served: That's the Veterans Business Development motto in the Small Business Administration. The SBA offers a full menu of services to veterans wishing to become entrepreneurs – and plenty is available from the private sector, too. In general, you can find expert guidance in these areas:

Choosing a business and the form the business should take
Preparing a business plan
Securing financing
Operating the business
Managing employees
Growing your business

Enlist others' knowledge to plan your business

Government and non-profit groups are ready with business advice.
Try: Veterans Business Development officers and the Veterans Business Outreach Program (VBOP) counsel and guide you as you consider and plan for your business. The Service Corps of Retired Executives offers mentorship online as does the SBA's Women's Business Center. There are a large number of public and private institutions giving startup advice to veterans; search for them in your state at the U.S. Department of Veterans Affairs Center for Veterans Enterprise.

Use your benefits to get entrepreneurship training

VA education benefits can cover training in entrepreneurship through the SBA or The Veterans Corporation.
Try: Get help from the Veterans Business Resource Center.

Get low-interest financing

Many SBA business lending programs offer special rates to veterans.
Try: Learn about five SBA loan programs and watch for announcements of seminars about special-rate loans for veterans in your area. For more contacts, check VetBiz.Gov, the federal Web site for veterans in business. Some states offer financing for veterans, too. Find state assistance through your local Small Business Development Center

Get a deal on a franchise

The Veterans Affairs Department negotiated discounted rates for veterans to buy franchises.
Try: Find information on the VetFran program and see the list of participating companies.

Already started? Consider grants for growth capital

The SBA doesn't offer startup grants, but more than two dozen state and federal agencies do.
Try: Use this list of grants from many agencies.

Tap into resources outside the SBA

Get information about exporting, defense contracts and general business assistance from other branches of government, veteran's affairs offices and veteran's service organizations.
Try: Click on more than a dozen links to learn more. Veteranscorp.org, also known as The Veterans Corp., is a nonprofit that creates entrepreneurial opportunities for veterans, including access to capital, services and training.

When seeking start-up help, ask about the availability of veteran-oriented assistance, such as private-sector loan rates for those who served.
If you are in business but you're a National Guard or reserve member, special assistance is available to help you plan ahead in case you're called to duty, and to re-enter business and recover losses if necessary.