Detroit Veterans: Start, Manage and Grow Your Business

Few would disagree that we owe veterans more than are giving them. I mean what do you give in return for someone risking their lives for us? We read stories of veterans looking for jobs and struggling to find their way back to “normalcy” or a “new norm”, but as an everyday individual there isn’t much we can do besides say “Thank you for your service”.

The SBA offers more; real, tangible and substantial tools and resources for entering the world of entrepreneurship. Veterans, whether you are starting or growing your business, the SBA has you covered.

If you are a veteran or service-disabled veteran, SBA has resources to help you start and grow your small business. From creating a business plan to finding your first customer, SBA helps you to succeed.

SBA Resources for Veterans

sba detroit veteranOffice of Veterans Business Development
Offers a number of programs and services to support and empower aspiring and existing veteran entrepreneurs and military spouses. SBA provides training and mentorship, access to capital, preparation for opportunities in federal procurement, and cultivation of connections within commercial supply chains and disaster relief assistance. Each year, SBA serves over 200,000 veterans, service disabled veterans and military spouses across the United States and at military installations around the globe.

Boots to Business
The two-step entrepreneurial program offered by the SBA on military installations around the world as a training track of the Department of Defense (DOD) Transition Assistance Program (TAP).

Boots to Business|Reboot
Extends the entrepreneurship training offered in TAP on military installations to veterans of all eras in their communities.

Veterans Women Igniting the Spirit of Entrepreneurship (V-WISE)
An SBA funded program provided by the Institute for Veterans and Military Families. V-WISE includes online training, a conference that harnesses the unique esprit de corps of women veterans and female military spouses, and follow-on mentoring through a community of partners.

The National Center for Veterans Institute for Procurement
Extends the entrepreneurship training offered in TAP on military installations to veterans of all eras in their communities.

Veterans Business Outreach Center (VBOC)
Provides entrepreneurial development services such as business training, counseling and mentoring for eligible veterans owning or considering starting a small business.

Financing for Veteran-Owned Businesses:
Leveraging Information and Networks to Access Capital (LINC): This online matchmaking service, connects small business owners with nonprofit lenders that offer free financial advice and specialize in microlending, smaller loans (SBA Community Advantage program), and real estate financing (SBA 504 loan program).

SBA Veterans Advantage
Guarantees loans approved to businesses owned by veterans or military spouses during fiscal year 2016 (October 1, 2015 through September 30, 2016) will receive the benefit of its regular guaranty fee reduced by 50%, when the loan is over $150,000.

SBA Veteran’s Entrepreneurship Act of 2015
Reduces the upfront borrower fee to zero dollars for eligible veterans and military spouses for SBA Express loans up to $350,000.

Military Reservist Economic Injury Disaster Loan Program (MREIDL): Provides loans up to $2 million to eligible small businesses to cover operating costs that cannot be met due to the loss of an essential employee called to active duty in the Reserves or National Guard.

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