What small business grants are available for veterans?
Federal and Nonprofit Grants
The Small Business Administration (SBA) offers the Veterans Advantage program, which includes loan guarantees and some grants through partner organizations. The Department of Veterans Affairs (VA) provides grants for specific purposes like adaptive equipment for disabled veteran entrepreneurs, but not general business startup funds. Nonprofits like the Bob Woodruff Foundation and the Warrior Rising program offer grants and mentorship.
The StreetShares Foundation (now part of Live Oak Bank) and the PenFed Foundation also provide grants to veteran-owned businesses. These often have application cycles and require a business plan.
- SBA Veterans Advantage: loan guarantees, not direct grants.
- VA Adaptive Sports Grant: for disabled veterans, not business.
- Bob Woodruff Foundation: grants for veteran-focused nonprofits, not individuals.
- Warrior Rising: grants and mentorship for veteran entrepreneurs.
- PenFed Foundation: grants for veteran-owned small businesses.
Corporate and State Programs
Corporations like FedEx, Comcast, and Amazon offer grants for veteran-owned businesses, often as part of broader small business initiatives. State governments may also have veteran business grants; for example, Texas has the Texas Veterans Commission's Veteran Entrepreneur Program. Check with your state's veterans affairs office or small business development center.
Eligibility typically requires the business to be at least 51% veteran-owned and operated. Some programs require the veteran to have an honorable discharge. Amounts vary widely, from $1,000 to $50,000.
Common mistakes
- Assuming the VA offers general business grants; it mostly provides loans and specific-purpose grants.
- Overlooking state-level veteran grants; many states have their own programs.
- Missing application deadlines; many grants have annual cycles.
