How the Small Business Administration Helps Veteran Entrepreneurs

November 4, 2016
Our nation owes each day of security and freedom that we enjoy to the members of our Armed Forces and their families.

“Our nation owes each day of security and freedom that we enjoy to the members of our Armed Forces and their families,” said President Obama. “Behind our brave service men and women, there are family members and loved ones who share in their sacrifice and provide unending support.”

For veterans that are small business owners or want to start a small business, there are a number of assistance programs to show them just how much they are appreciated each and every day. The Small Business Administration (SBA) office of Veterans Business Development -- whose mission is to maximize the availability, applicability and usability of all administration small business programs for veterans, service-disabled veterans, reserve component members and their dependents or survivors -- offers a number of programs and services to support and empower aspiring and existing veteran entrepreneurs and military spouses. For example, the SBA’s Veterans Business Outreach Center provides entrepreneurial development services such as business training, counseling and mentoring for eligible veterans owning or considering starting a small business.

Furthermore, the SBA’s Leveraging Information and Networks to Access Capital (LINC) 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). Additionally, the Military Reservist Economic Injury Disaster Loan (MREIDL) program 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.

Blog by Dale Myers. the NALA's Head Writer.

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