Unlocking Funding Opportunities for Veteran-Owned SMBs

Discover Resources and Tips to Help Your Business Thrive

Author

Yaryna Hotlib
June 25, 2024

Welcome to the very first edition of Nana Talks, where we dive into the world of funding for small and medium-sized businesses (SMBs). This week, we're focusing on funding for veteran-owned businesses. Get ready for a bi-weekly dose of insights, tips, and resources!

Table of Contents

Let's Talk About Veteran Funding

Finding grants specifically for starting a veteran-owned business can be tough, as most grants focus on personal needs like housing and healthcare. But don’t get discouraged! There are tons of support programs, venture capital opportunities, and loans available to help you get started.

Many banks love working with veterans because they are known to be responsible borrowers. This can increase your chances of securing funding. Plus, there are plenty of resources out there, and sometimes, having the right knowledge and network is more valuable than just getting cash.

Is It Okay to Borrow Money?

Absolutely! Once I was asked: “Why you didn’t take the loan? You didn’t want to succeed? Or what?“ Sometimes, borrowing money is the best way to move your business forward quickly. Instead of waiting a year to save enough money, a loan could help you launch in just a few months. But, please - remember, there's a big difference between borrowing out of desperation and borrowing to invest.

Do You Have to Seek for Funds?

Not necessarily! You can also strike deals to get what you need. For example, if you need tech tools and have a friend in IT, propose a deal where you offer them equity in exchange for their services. This way, you gain a partner and solve your tech needs without spending cash.

Support Programs:

VC for Veterans:

Grants:

Business Loans:

Stay Tuned!

Starting next week, I'll be sharing a business use case (request for funding) every week. I’ll provide detailed analysis, ideas, and resources that might be helpful for each specific case.