After wars in Iraq and Afghanistan, deployed men and women have started to return home. SBA is welcoming them with new initiatives and Veteran loan programs so as to help them start, grow and expand their own business. The SBA is committed to provide all possible support, counseling, capital and business development skills necessary to help veterans start their own business.
Veterans who have served in Iraq and Afghanistan developed leadership and management skills while being on duty. So, when they will bring their experience into application as entrepreneurs and small business owners, it will lead to great results.
Entrepreneurship ‘Boot Camp’ for Veterans with Disabilities (EBV) program at Cornell University provides training to entrepreneurs to start and grow a new small business. The ‘boot camp’ has been created by a network of best business schools in the country. Last year too, the SBA collaborated with Syracuse University, and 129 service-disabled veterans participated actively.
SBA is also providing $2.6 million through a co-operative agreement in three years for two programs that support veteran entrepreneurs. The first is for ‘Women Veterans Igniting the Spirit of Entrepreneurship’ (V-WISE) program. It focuses on training, mentorship and networking of women entrepreneurs. It is a three day program and provides online training and network support in several locations around the nation.
The second program is termed as ‘Operation Endure & Grow’. This aims to mitigate economic hardships of small businesses owned by National Guard and Reserve Component members. It is an eight-week online course and focuses on fundamentals for launching and growing a small business enterprise.
In this fiscal, SBA lending to veterans amounted to over 4,300 loans that totals to $1.5 billion in its flagship 504 and 7(a) programs. Also, SBA’s ‘Patriot Express loan’ guaranteed $667 million to nearly 8,100 veterans. The program extends through 2013 providing 1,560 loans. In the current fiscal, the total loan guaranteed amounts to $142 million.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org