{"id":13950,"date":"2017-04-04T09:05:05","date_gmt":"2017-04-04T13:05:05","guid":{"rendered":"http:\/\/veteranroundtable.org\/backup\/?p=13950"},"modified":"2017-04-03T23:24:16","modified_gmt":"2017-04-04T03:24:16","slug":"funding-sources-for-veteran-owned-businesses","status":"publish","type":"post","link":"https:\/\/veteranroundtable.org\/backup\/funding-sources-for-veteran-owned-businesses\/","title":{"rendered":"Funding Sources for Veteran Owned Businesses"},"content":{"rendered":"<p>Business capital funding is essential for new veteran owned businesses (VOBs). There are a variety of funding options available that include federal, state and private organizational financial support. Veteran Owned Business Roundtable (VOBRT) is firmly committed to identifying funding resources and capital for VOBs.<!--more--><\/p>\n<p><strong><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-medium wp-image-14147\" src=\"http:\/\/veteranroundtable.org\/backup\/wp-content\/uploads\/2017\/04\/shutterstock_602899748-450x301.jpg\" alt=\"Funding Sources for Veteran Owned Businesses\" width=\"450\" height=\"301\" srcset=\"https:\/\/veteranroundtable.org\/backup\/wp-content\/uploads\/2017\/04\/shutterstock_602899748-450x301.jpg 450w, https:\/\/veteranroundtable.org\/backup\/wp-content\/uploads\/2017\/04\/shutterstock_602899748.jpg 500w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><\/strong><\/p>\n<p><strong>SBA funding for veterans<\/strong><\/p>\n<p>The SBA has several financial programs specifically targeted to assist veteran owned businesses.<\/p>\n<h5>\u00b7\u00a0<a href=\"https:\/\/www.sba.gov\/sites\/default\/files\/articles\/Veterans_Advantage_Borrower_Fact_Sheet_FY17_FINAL.pdf\" data-cke-saved-href=\"https:\/\/www.sba.gov\/sites\/default\/files\/articles\/Veterans_Advantage_Borrower_Fact_Sheet_FY17_FINAL.pdf\">SBA Veterans Advantage<\/a><\/h5>\n<p>The Veterans Advantage Guaranteed Loans Program benefits the veteran business owner by offering a reduction in certain loan program fees. \u00a0The SBA Veterans Advantage program provides a guarantee for loans approved to veteran owned or military spouse owned businesses during fiscal year 2017. If the loan is over $150,000 the business will receive the benefit of its regular guaranty fee reduced by 50 percent. \u00a0In addition, the program also reduces barriers that veteran owned business may encounter when they attempt to access capital.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.sba.gov\/sbic\/financing-your-small-business\/sbic-financing-right-your-business\" data-cke-saved-href=\"https:\/\/www.sba.gov\/sbic\/financing-your-small-business\/sbic-financing-right-your-business\"><strong>SBIC Program Financial Assistance<\/strong><\/a><\/li>\n<\/ul>\n<p>Veteran owned business can apply for capital assistance via the SBIC program.\u00a0 SBICs are entirely privately owned and managed investment funds.\u00a0 They are regulated by the SBA. A SBIC firm will make equity and debt investments to veteran owned businesses that qualify. These firms are regulated and licensed by the SBA.<\/p>\n<ul>\n<li>\n<h5>\u00b7<a href=\"https:\/\/www.sba.gov\/sites\/default\/files\/lender_notices\/5000-1356.pdf\" data-cke-saved-href=\"https:\/\/www.sba.gov\/sites\/default\/files\/lender_notices\/5000-1356.pdf\">SBA Veteran\u2019s Entrepreneurship Act of 2015<\/a><\/h5>\n<\/li>\n<\/ul>\n<p>Veterans and military spouses who are eligible will have their upfront borrowers reduced to zero on SBA Express loans up to $350,000.<\/p>\n<p>The SBA does not have legal authority to grant small businesses funding grants. Yet some grants are available through states, which typically require the business to match funds that are granted. In addition, there are business organizations that provide funding for veteran owned business.\u00a0 They include:<\/p>\n<ul>\n<li><a href=\"http:\/\/go.streetshares.com\/fit\" data-cke-saved-href=\"http:\/\/go.streetshares.com\/fit\"><strong>StreetShares <\/strong><\/a>provides loans up to $100,000 for veteran owned businesses that are one year or older.\u00a0 They also assist VOBs owned by a family member. <a href=\"http:\/\/go.streetshares.com\/streetshares-foundation-veteran-small-business-award\" data-cke-saved-href=\"http:\/\/go.streetshares.com\/streetshares-foundation-veteran-small-business-award\">\u00a0StreetShares Foundation<\/a> also offers monthly cash awards to veteran owned businesses.<\/li>\n<\/ul>\n<ul>\n<li><a href=\"http:\/\/www.hiversandstrivers.com\/\" data-cke-saved-href=\"http:\/\/www.hiversandstrivers.com\/\"><strong>Hivers and Strivers<\/strong><\/a> is an investment fund that targets financial assistance for companies run by U.S. Military Academies graduates. They provide investments from a quarter million to $1 million.<\/li>\n<\/ul>\n<p>One alternative funding source to seriously consider for your veterans owned business is the <a href=\"http:\/\/fitsmallbusiness.com\/rollover-business-startups-robs\/\" data-cke-saved-href=\"http:\/\/fitsmallbusiness.com\/rollover-business-startups-robs\/\">Rollover for Business Startups <\/a>known as Business Owner\u2019s Retirement Savings Account or BORSA. BORSA allows you to invest your retirement funds in a business without paying income taxes or early withdrawal penalties.<\/p>\n<p>For more information on funding assistance or resources <a href=\"http:\/\/directory.veteranroundtable.org\/contactus.php\" target=\"_blank\" data-cke-saved-href=\"http:\/\/directory.veteranroundtable.org\/contactus.php\">contact<\/a> us today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business capital funding is essential for new veteran owned businesses (VOBs). There are a variety of funding options available that include federal, state and private organizational financial support. Veteran Owned [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":14147,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/posts\/13950"}],"collection":[{"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/comments?post=13950"}],"version-history":[{"count":3,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/posts\/13950\/revisions"}],"predecessor-version":[{"id":14149,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/posts\/13950\/revisions\/14149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/media\/14147"}],"wp:attachment":[{"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/media?parent=13950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/categories?post=13950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/veteranroundtable.org\/backup\/wp-json\/wp\/v2\/tags?post=13950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}