Myth-busting Veteran Business Grants · Veteran Business Community

Myth-busting Veteran Business Grants

I would have to guess that 20%-25% of new clients talk to me in our first meeting wanting to know about grants or special funding for veterans. Let's go over what is real vs. what is rumor mill.

The SBA doesn't actually give startup grants to veterans, though they do waive some fees in certain circumstances: SBA's own site states plainly that it doesn't provide grants for starting or expanding a business; its grant dollars go to nonprofits and resource partners that provide counseling and training. This could clear up a lot of reader confusion and position you as the trustworthy source. So, find a non-profit that has a mission to support veterans or small business and apply for the funds.

Now lets cover A roundup of real cash-grant programs for veteran founders. Here are a handful of legitimate no-strings grants currently running: the Hiring Our Heroes Small Business Grant Program (four $10,000 awards and one $25,000 award annually, funded by the FedEx Founders Fund), Warrior Rising's Business Shower grants ($2,000–$150,000, but only for graduates of its training pipeline), the National Association for the Self-Employed's Growth Grants (up to $4,000, membership required), and smaller/regional ones like Texas Woman's University's Veteran Entrepreneur Grant ($5,000 awards, Texas-only) and the Farmer Veteran Coalition's Fellowship Fund for ag-based businesses.

Now lets look at the PE (Private Equity) side of the house. Hivers & Strivers, a veteran-focused angel investment group writing $100K–$1M checks in exchange for equity. (I have not personally worked with them).

The best thing going for disabled veterans is still the VR&E program. As most know by now, they can offer up to $50,000 (with exceptions) for a veteran to start a business. The program usually takes 6-18 months and you need an official business plan that is vetted by an SBA partner (Me, VBOC, SBDC). IF interested, reach out to me directly.

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Myth-busting Veteran Business Grants