Veteran Small Business Resource Guide

Summary

This resource guide marks National Veterans Small Business Week, November 1-5, 2021, with Ranking Member Luetkemeyer joining in celebrating the week. It says there are 351,000 veteran-owned businesses and 9 million veterans are part of the civilian labor force. The guide lists Small Business Administration resources, including the Office of Veterans Business Development, which administers programs including 22 Veterans Business Outreach Centers, and the Boots to Business program, a two-day, in person entrepreneurship program. It says 7(a) Loan program fees could be waived for veteran-owned businesses under certain budgetary environments, and the SBA requires federal agencies to meet a goaling requirement of 3 percent of annual federal government spending for service-disabled veteran-owned businesses.

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                            VETERAN SMALL BUSINESS RESOURCE GUIDE

This week, November 1-5, 2021, Ranking Member Luetkemeyer joins our nation in celebrating National Veterans
Small Business Week. Across the U.S., there are 351,000 veteran-owned businesses, and 9 million veterans are
part of the civilian labor force. The below resources from the Small Business Administration are available to support
veteran-owned businesses and veteran entrepreneurs.

Entrepreneurial Development Programs
   • The Office of Veterans Business Development (OVBD) administers several management and training
       programs to assist veteran-owned businesses, including 22 Veterans Business Outreach Centers. These
       centers provide business counseling and entrepreneurial training programs for transitioning service
       members, veterans, National Guard and Reserve members, and military spouses.
   • Additionally, veteran business owners can receive free counseling from SCORE, Small Business
       Development Center, Women's Business Center, or Veterans Business Outreach Center advisers.
   • The Boots to Business program is a two-day, in person entrepreneurship program initiated and offered by
       the SBA as part of the Department of Defense’s Transition Assistance Program (TAP). It offers information
       about self-employment and business ownership for transitioning service members and military spouses.




Lending Programs
   • To increase access to capital opportunities for small businesses, including veteran-owned businesses and
      veteran entrepreneurs, the SBA offers numerous governments guaranteed loan programs.
   • Among the capital access tools is the 7(a) Loan program. Fees that are built into the program for lenders
      and small business borrowers could be waived for veteran-owned businesses under certain budgetary
      environments.
   • To assist a small business that may have employees called to activity duty in the National Guard, the SBA
      offers Military Reservist Economic Injury Disaster Loans (MREIDL).

Federal Prime Contracting Programs
   • To provide opportunities for small businesses to join the federal marketplace so they may grow and
       contribute to American economic prosperity and national security, the SBA offers numerous federal
       contracting programs. The SBA also requires federal agencies to meet certain goaling requirements
       including 3 percent of annual federal government spending to service-disabled veteran-owned businesses
       (SDVOSBs).
   • The SDVOSB program is a prime contracting certification program that assists SVOSBs through the use of
       set-aside awards, which are contract opportunities specifically reserved only for SDVOSB firms to compete,
       and sole-source awards, which are contract opportunities awarded exclusively to one SDVOSB firm without
       competition.

For more information on any of these programs, please visit: https://www.sba.gov/business-guide/grow-your-
business/veteran-owned-businesses.


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