Veterans who want to start or grow a business have access to SBA loans, federal contracting preferences, and training programs. Here's what's available.
Military service develops leadership, discipline, problem-solving skills, and the ability to perform under pressure — exactly the qualities that make successful entrepreneurs. The federal government recognizes this and offers several programs specifically designed to help veterans start and grow businesses.
The SBA's Office of Veterans Business Development runs the Boots to Business program, which provides entrepreneurship training to transitioning service members and veterans. The program offers a free introductory course on business ownership and an eight-week foundations course covering business concepts, market research, and financial planning. These courses are available online and in person at installations nationwide.
Veteran-owned small businesses get preferential treatment in federal contracting. The government has a goal of awarding at least 3% of all federal contracting dollars to Service-Disabled Veteran-Owned Small Businesses (SDVOSBs). To qualify, the business must be at least 51% owned and controlled by a service-disabled veteran. Once certified, SDVOSBs can compete for set-aside contracts that are only open to verified veteran-owned businesses.
The VA's Veteran Readiness and Employment program (Chapter 31) can actually help fund a small business if self-employment is part of your individualized employment plan. This can include funding for business startup costs, equipment, supplies, and training. It's an underused aspect of VR&E that most veterans don't know about.
SBA loans offer favorable terms for veteran entrepreneurs. While the SBA doesn't lend directly, it guarantees loans made by partner lenders, which means better interest rates and terms. The SBA Express loan program reduces the turnaround time on loan applications, and veterans are exempt from the SBA Express upfront guarantee fee on loans up to $350,000. The SBA's Community Advantage program also targets underserved communities, including veteran businesses.
Veteran business owners should also look into state-level programs. Many states offer tax credits for hiring veterans, reduced business registration fees for veteran-owned businesses, and state-level contracting preferences that mirror the federal set-aside programs. Your state's department of veteran affairs website is the best place to find state-specific business benefits.
Once you're ready to set up your business operations, you'll need professional email and file storage. We use Google Workspace for Vet Debrief and recommend it for veteran-owned businesses — get 10% off your first year through our referral link: https://referworkspace.app.goo.gl/Dd1y