The Best Business Programs and Loans for Veterans

When it comes to supporting veteran entrepreneurs, the best business loans and programs for veterans are designed to address their unique needs and challenges. Here are some notable options:

1. The Boots to Business Training Program

This program, offered by the Small Business Administration (SBA), provides transitioning service members with the knowledge and skills they need to succeed as small business owners. Through workshops, online courses, and networking opportunities, participants gain valuable insights into entrepreneurship and business ownership.

2. Warrior Rising

Warrior Rising is a non-profit organization dedicated to supporting veteran entrepreneurs by providing funding, mentorship, and support. Through its comprehensive program, Warrior Rising helps veterans launch and grow their businesses by offering access to capital, business training, and mentorship from successful business leaders.

3. VA Small Business Loans

The U.S. Department of Veterans Affairs (VA) offers small business loans specifically tailored to veterans. These loans feature reduced risk for lenders, resulting in lower interest rates and longer repayment terms for borrowers. VA small business loans can be used for various purposes, including starting a new business, purchasing equipment, or expanding an existing operation.

These programs and resources are invaluable assets for veteran entrepreneurs, providing you with the support and assistance you need to turn your business dreams into reality. At Bank of the Rockies, we are proud to partner with the Small Business Administration (SBA) to ensure that veteran-owned businesses have access to the funding and resources they need to thrive.

What the Best Business Loans for Veterans Have in Common

Many of the best business loans for veterans have the same eligibility criteria in common.

  • Military Service: A DD Form 214 will normally be enough as proof of your veteran status.
  • Business Ownership: Generally speaking, you need to be in control of at least 51% of the company shares to apply for the loan.
  • Strong Credit: Lenders will evaluate your creditworthiness based on your credit history and score.

3 of The Best Business Loans for Veterans

1. Veteran Administration (VA) Business Loans

These are loans with reasonable interest rates offered by the Department of Veterans Affairs to finance veterans’ businesses. These loans can be used to purchase equipment, launch, or grow a business.

2. SBA Loans

The Patriot Express Loan and the SBA 7(a) Loan are two of the lending programs that the Small Business Administration (SBA) provides to veterans. Veterans can now obtain financing for a variety of business requirements thanks to these loans.

3. Military Economic Injury Disaster Loans

The SBA provides Military Economic Injury Disaster Loans in the case of a crisis or disaster that affects a business operated by a veteran. This loan will support the veteran in building back the business.

The Best Business Loans for Veterans at Bank of the Rockies

Bank of the Rockies is here to partner with you so you can overcome financial barriers, access capital for growth and expansion, and ultimately build a thriving business.

Discover our personalized commercial loan services that can help you in any stage of business, whether you are launching or expanding. We also invite you to contact a qualified client service advisor or stop by one of our local offices near you to get started today.