VA Business Loans

Capture VA business loans with savvy, smart moves.

There are nearly 24 million military veterans in the United States who own and operate approximately 5% of the over 80 million small businesses.  The Veterans Administration has been called upon to help these veteran entrepreneurs, and for good reason:

VA Business Loans Are A Good Deal For The Country

Small businesses run by veterans are often much more stable and successful for various reasons. If you are a veteran who has been struggling to put together the funding needed to start your own business you may qualify for any of the small business loans for veterans.

As of 1999, the government began establishing a number of programs targeting military veterans in order to encourage them to enter the entrepreneurial sector upon honorable discharge from service.



VA Business Loans Are Good For Vets

The first of these programs was the Veterans Entrepreneurship and Small Business Development Act. This was initially designed to provide assistance for veteran business owners who were pressed back into service during times of military crisis.

Later this act was expanded to help provide further assistance such as small business loans for veterans, payment deferments, and technical and managerial support. The Office of Veterans Business Development was established to work with the Small Business Administration (SBA) to help develop, implement, and promote SBA programs and policies that were meant to target military veterans.

It was further expanded to include a national Veterans Business Development Corporation. This organization helps to provide any technical training that might be necessary in order to operate a business. For example, this may include record keeping, safe business practices, and assistance setting up computer networks.

The act also directs the SBA to work with the Service Corps of Retired Executives (SCORE). This organization was established to provide training and counseling for individuals (not just military members) interested in starting a business. SCORE pairs new business people with experienced, retired executives who will provide guidance in establishing a workable business plan and obtaining the necessary funding. Through the Veterans Entrepreneurship Act veterans are able to obtain these services at no cost.

Additionally, the SBA program for VA business loans now provides a guaranty letter for veterans to help speed up the application process with any lenders. The SBA will provide guaranty for 80% of loans up to $100,000 and 75% for loans over that amount.

Of further interest for qualified applications for any small business loans for veterans is that most of these types of loans carry a lower interest rate than loans for non-veterans and often have more flexible terms. This can really help when just getting a new business up and running.

While VA business loans do not actually come from the Department of Defense or from the Veterans Administration, these two bodies do serve as guarantors which makes veterans attractive clients for most lending institutions.

You have given considerable time in service to your country. Now let your country give something back in the form of small business loans for veterans so that you can start your own business on solid footing.

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