The Veteran Business Project promotes military, veterans, and spouses small business ownership opportunities. We do this by proudly offering our unique “vharmony™️” business match-making service, connecting veterans/spouses seeking to acquire established businesses with business owners wanting to divest. Our “vharmony™️” service includes a caseworker to facilitate the often challenging road to purchase, as well as a seasoned business mentor after the completed transaction.
Veterans have a history in building small business America
In the nine (9) years following WW II, 49% of our military veterans ended up owning their own business. As a result, the American small business economy grew and flourished like never before.
Just as in the post WW II era, America very much needs a small business resurgence. Today however, only 6-7% of our post 9/11 veterans are in business for themselves.
While many more veterans want to own a small business, those able to fulfill this dream have become few and far between.
AT THE NATIONAL LEVEL: We are a primary supporter of the effort to bring the current G.I. Bill back to its original intent…”full employment.” The original G.I. Bill provided a range of benefits, including low-interest business start up loans.
In contrast, TODAY … the disappointing shortfall of veteran small business ownership essentially boils down to one main thing: lack of access to start-up capital from traditional small business lending sources (banks, etc.). Importantly, VBP is partnering with the SBA and Treasury Department in advancing use of the Community Development Financial Institutions Fund (CDFI) as a source for veterans access to capital. This partnership holds much promise for our military veterans.
AT THE STATE LEVEL: VBP led the successful passing of Illinois SB 324 and recently a similar law in Missouri. These laws give veterans access to below-market loans, secured by a state guarantee, for small business start-ups and veteran-owned businesses needing capital to expand.
Today’s veterans are capable, determined, hard-working, and responsible. They richly deserve the opportunity to realize their dream of small business ownership.
If you’re a veteran, and would like to begin investigating business ownership, register here! You’ll also receive ongoing News and Events updates.
If you’re a business, and would like to potentially sell your existing business to a veteran, register here! You’ll also receive ongoing News and Events updates.
For News and Events updates only, register here