Business Grants for Veterans

The Obama administration recently passed the American Recovery and Reinvestment Act (ARRA) of 2009, which set aside USD 831 billion to revitalize the ailing economy. Out of the said amount, USD 275 billion has been earmarked for federal government grants. You can avail funding from this sum if you meet the stringent eligibility criteria. Financial assistance received through the government is the best way to fund a business as the money need not be repaid.

These disbursements are mostly given to nonprofit organizations and institutes working towards the betterment of society. The government also provides financial aid to businesses dealing in renewable energy and energy efficiency solutions. The Obama government has even set up a task force on veterans small business development, to support these citizens to start their businesses.

Small Business Administration (SBA)

If you are looking for grants, then one of the first things you could do is talk to the local office of the Small Business Administration (SBA). The SBA has set up the Office of Veterans Business Development, and you can check out the location of an office near you, on their website. The SBA is also the right place to check for aid provided to disabled veterans.

Catalog of Federal Domestic Assistance (CFDA)

Another resource for checking small business government grants for veterans is the Catalog of Federal Domestic Assistance (CFDA) website. The website has free details of over two thousand federal assistance programs. The website also has a help desk number which you can call for assistance regarding grants and loans.

Local Chamber of Commerce

The local chapter of the chamber of commerce is also a good start if you are looking for small business loans and grants. They have several funding opportunities and if you fit the eligibility criteria, you could qualify for a grant, and if not, you could check their list of available loan opportunities. They also have specific programs for minority and women veterans.

If you have seen advertisements that offer financing for a small fee, stay away as most of the information they offer is available free on the government website. If you have identified a program which best qualifies you from the website, you can use the identification number to apply for that particular scheme.
Nonprofit Organizations

Another resource worth keeping in mind are the nonprofit organizations (NPOs). There are many NPOs who work for the betterment of veterans and their families. The Internet is the best medium to look for an organization which will accommodate your needs. Try organizations like Rotary as they have a lot of community development programs under which they could provide financial help to veterans.

The U.S. Department of Commerce has instituted the Minority Business Development Agency (MBDA) which is a body that provides assistance to minority-owned businesses including those started by veterans.