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How to Get Business Start-Up Grants for Disabled Veterans

How to Get Business Start-Up Grants for Disabled Veterans

Starting a business offers disabled veterans a path to financial independence, personal fulfillment and the opportunity to make a meaningful impact in their communities. However, the cost of launching and maintaining a business can be a significant hurdle. Fortunately, numerous grants, loans and support programs exist to help disabled veterans realize their entrepreneurial dreams.

Small Business Administration (SBA) Veterans Advantage Program

The SBA’s Veterans Advantage Program reduces the financial strain of starting a business by offering lower loan fees and access to comprehensive business support. Although not a direct grant, it provides substantial savings and guidance.

Key Features

  • Reduced fees for SBA loans, such as the 7(a) Loan Program and the CDC/504 Loan Program, which cover start-up costs, equipment purchases and expansion.
  • Access to business training and mentoring through SBA’s Veterans Business Outreach Centers (VBOCs).
  • Assistance with crafting business plans and connecting with investors or additional funding sources.

Veterans can apply for these loans with reduced costs, making it easier to finance their business endeavors. Learn more at www.sba.gov.

Service-Disabled Veteran-Owned Small Business (SDVOSB) Program

The SDVOSB program creates opportunities for service-disabled veteran-owned businesses to secure government contracts. While not a direct grant, the program offers a stable revenue source, which can help fund start-up and operational costs.

Benefits of the Program

  • A designated percentage of federal contracts is reserved exclusively for SDVOSBs, giving them a competitive edge.
  • Support for navigating federal procurement processes and meeting compliance requirements.
  • Collaboration opportunities with larger contractors on government projects.

To register your business as an SDVOSB, visit www.va.gov.

Hivers and Strivers Angel Fund

Hivers and Strivers is an angel investment group that supports veteran entrepreneurs, focusing on innovative and scalable business ideas.

What They Provide

  • Investment capital ranging from $250,000 to $1 million, depending on the start-up’s needs and potential.
  • Mentorship from seasoned business leaders and investors to ensure long-term success.
  • Networking opportunities to connect with other veteran entrepreneurs and industry experts.

This program is especially beneficial for disabled veterans with tech-focused or innovative business ideas. Learn more at https://hiversandstrivers.com/about/. 

StreetShares Foundation Veteran Small Business Award

The StreetShares Foundation provides financial grants and resources to veteran-owned businesses, including those led by disabled veterans. This award focuses on businesses that demonstrate community impact.

Program Highlights

  • Grants range from $4,000 to $15,000 for start-up or expansion purposes.
  • Access to financial education resources, such as budgeting and business planning tools.
  • Preference is given to businesses with a strong social or community-oriented mission.

Applications are competitive, so a clear and impactful business plan is essential. Visit https://usbusinessgrants.org/grants/streetshares-small-business-award.html. 

Warrior Rising Program

Warrior Rising is a nonprofit dedicated to helping disabled veterans achieve entrepreneurial success through financial aid, mentorship and business development resources.

Key Features

  • Funding for start-up costs, including inventory, marketing and equipment.
  • Access to personalized mentorship programs tailored to the specific needs of veteran entrepreneurs.
  • Networking opportunities to build connections with potential partners and investors.

Discover more at www.warriorrising.org.

Grants.gov

Grants.gov is the federal government’s primary platform for grant opportunities, including those targeted at disabled veterans. It is an essential tool for finding and applying for grants.

Benefits of Using Grants.gov

  • Centralized access to thousands of federal grants across various industries and sectors.
  • Detailed descriptions of eligibility requirements and application processes.
  • Tools to track applications and receive updates on deadlines and awards.

Begin your search for business grants at www.grants.gov.

SCORE for Veterans

SCORE is a nonprofit organization that provides mentorship and business education to entrepreneurs, including disabled veterans. Although it does not offer direct grants, SCORE is instrumental in guiding veterans toward funding opportunities.

What SCORE Offers

  • One-on-one mentorship with experienced business professionals, many of whom are veterans themselves.
  • Free workshops and webinars on topics like marketing, grant writing and scaling a business.
  • Resources to develop competitive grant applications and business strategies.

Explore SCORE’s offerings at www.score.org.

V-WISE (Veteran Women Igniting the Spirit of Entrepreneurship)

V-WISE is a program tailored to empower female veterans, including those with disabilities, to start and grow businesses.

Program Highlights

  • Comprehensive training on business planning, financial management and marketing strategies.
  • Scholarships and grants to attend workshops and conferences.
  • Access to a supportive network of veteran women entrepreneurs for mentorship and collaboration.

Learn more about V-WISE at https://ivmf.syracuse.edu/programs/. 

Institute for Veterans and Military Families (IVMF)

The IVMF at Syracuse University provides disabled veterans with education, funding resources and ongoing support to help them succeed as entrepreneurs.

Services Provided

  • Programs like the Entrepreneurship Bootcamp for Veterans (EBV), cover business fundamentals.
  • Access to funding opportunities, including micro-loans and grants.
  • Long-term mentorship and networking through an extensive alumni network.

For more information, visit www.ivmf.syracuse.edu. 

Additional Tips for Disabled Veteran Entrepreneurs

Utilize State-Specific Programs

Many states offer grants, tax incentives and business development resources tailored to veterans. Check with your state’s economic development office to explore these opportunities.

Explore Crowdfunding Options

Platforms like Kickstarter and GoFundMe can help you raise funds for your business idea. These platforms also provide an opportunity to showcase your mission to potential supporters.

Build a Strong Business Network

Joining veteran-focused business groups, such as the National Veteran-Owned Business Association (NaVOBA), can provide invaluable resources, mentorship and connections to investors.

Conclusion

For disabled veterans, entrepreneurship is a powerful way to achieve financial independence and make a lasting impact. Programs like the SBA Veterans Advantage, StreetShares Foundation and Warrior Rising offer crucial support to help veterans succeed in business. Additionally, exploring resources such as Grants for Disabled Veterans, state-specific resources and financial assistance programs can provide a comprehensive foundation for success. By leveraging these opportunities, disabled veterans can overcome financial barriers and turn their business visions into reality.

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