Supporting Veteran Entrepreneurs: Resources for Starting a Small Business
Starting a small business can be challenging, especially for veterans who possess unique skills from their military service but may struggle with access to funding. Many veterans encounter difficulties securing financial support due to limited credit history or savings. In fact, between 2014 and 2020, the percentage of veteran-owned businesses decreased from 11% to 8.1%. However, there is hope! Numerous resources are available to assist veterans in launching and growing their businesses.
National Resources
– Small Business Administration (SBA)
The SBA offers loans of up to $50,000 for inventory, equipment, and other essential business needs. This can be a crucial lifeline for many veterans looking to start their own ventures.
– Veteran Business Outreach Centers (VBOC)
These centers provide training, loan assistance, and crucial guidance on grants specifically designed for veteran entrepreneurs.
– Grants.gov
A comprehensive platform where veterans can search for federal grants that cater to their business needs.
Texas Resources
– Texas Veterans Commission (TVC)
The TVC supports veterans in starting or expanding their businesses by offering valuable resources and guidance.
– Texas Veterans Land Board
This program provides low-interest loans for purchasing land or homes, which can be beneficial for business owners looking to establish a physical location.
El Paso Resources
– El Paso Small Business Development Center (SBDC)
The SBDC offers free business assistance and training specifically tailored for veterans, helping them navigate the complexities of entrepreneurship.
– Local Veteran Groups (VFW, American Legion)
These organizations can assist with networking opportunities, information on grants, and additional support for veteran entrepreneurs.
– City of El Paso Economic Development
The city offers various programs aimed at helping small businesses thrive, making it an excellent resource for local veterans.
Additional Support
– Hello Alice
This online platform connects veterans with funding opportunities and essential resources, making the path to entrepreneurship more accessible.
– Bunker Labs
A nonprofit organization providing mentoring and support for veteran entrepreneurs, helping them grow their businesses and succeed in their ventures.
Veterans in Texas and El Paso have numerous opportunities to secure funding and support for their businesses. By connecting with local and national resources, they can find the assistance they need to thrive. Let’s empower our veterans to turn their skills into successful businesses! 🌟💼
