Starting a business is difficult, especially while organizing finances as a veteran transitioning to civilian life. The good news is: If you have served our country, you might qualify for certain financial assistance to help make your dream a reality.
According to the United States Census Bureau, over two million businesses in the United States are owned by veterans and 9% of veterans represent all U.S. firms. With veterans playing such a key role in our economy, it is worth seeing which kinds of resources are available.
Before starting your business or applying for any loans, be sure to check your credit. You can view a free credit report once a year on trusted sites, such as the FTC.
When you’re ready, here are a few resources for veterans looking to start their own business:
BBB Military Line: BBB Institute for Marketplace Trust believes that “Financial Readiness equals Mission Readiness.” BBB Military Line works to bring education to those who serve, have served and their families with the tools they need to navigate through an ever evolving marketplace.
BBB Get More Money Now Guide: This online guide gives information on avoiding financial scams, preparing financially for future plans and also has an extensive list of financial resources.
Small Business Association: The SBA offers some loan options to veterans who are interested in starting a small business by helping connect veterans to advisers specializing in microlending, smaller loans and real estate financing.
Military Saves: This organization hosts a yearly Military Saves Week, encouraging local organizations to inform both active military and veterans in their community on financial awareness and resources. Visit their website for multiple links to resources for veterans.
Ohio Department of Veterans Services: This agency lists a variety of general resources for veterans, including information on small business loans and financial assistance.
The U.S. Department of Veterans Affairs: The Veteran Entrepreneur Portal (VEP) connects veteran entrepreneurs to best practices, financial information and training programs to those interested in starting a small business.
To find charitable organizations who help veterans, active military and their families, you can search give.org to find BBB Accredited nonprofit organizations.