Office of Veterans Business Development (OVBD)
Devoted exclusively to promoting veteran entrepreneurship, the OVBD facilitates the use of all SBA programs by veterans, service-disabled veterans, reservists, active-duty service members, transitioning service members, and their dependents or survivors.
SBA programs provide access to capital and preparation for small business opportunities. They can also connect veteran small business owners with federal procurement and commercial supply chains.
The Veterans Business Outreach Program is an OVBD initiative that oversees Veterans Business Outreach Centers (VBOC) across the country. This small business program features a number of success stories and offers business plan workshops, concept assessments, mentorship, and training for eligible veterans.
Funding for veteran-owned small businesses
You can use SBA tools like Lender Match to connect with lenders. In addition, the SBA makes special consideration for veterans through several programs.
- SBA Veterans Advantage. Offers guarantees on loans approved to businesses that are at least 51-percent owned by veterans or military spouses.
- SBA Veteran’s Entrepreneurship Act of 2015. Reduces the upfront borrower fee to zero dollars for eligible veterans and military spouses for SBA Express loans up to $350,000.
- The Military Reservist Economic Injury Disaster Loan Program (MREIDL). Provides loans of up to $2 million to cover operating costs that cannot be met due to the loss of an essential employee called to active duty in the Reserves or National Guard.
Veteran entrepreneurship training programs
SBA programs feature customized curriculums, in-person classes, and online courses to give veterans the training to succeed. These programs teach the fundamentals of business ownership, SBA resources, and small business experts.
- Boots to Business: An entrepreneurial program offered on military installations around the world and a training track of the Department of Defense (DOD) Transition Assistance Program (TAP). Boots to Business Reboot extends the entrepreneurship training offered in TAP to veterans of all eras in their communities.
- Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE): Includes online training, a conference that harnesses the unique esprit de corps of women veterans and female military spouses, and follow-on mentoring through a community of partners.
- The National Center for Veteran Institute for Procurement: Trains veteran service-disabled and veteran-owned small businesses to succeed in the federal contracting market.
The Service-Disabled Veteran-Owned Small Business Concern program (SDVOSBC) gives procuring agencies the authority to set acquisitions aside for exclusive competition among service-disabled, veteran-owned small businesses. Sole source awards will be delivered if certain conditions are met.