Unlocking opportunities: 17 veteran focused grants and essential resources for entrepreneurs

Key Insights

  • Veterans often face steeper hurdles securing capital than their civilian counterparts.
  • A variety of nonprofits, corporations, and government agencies provide grants targeted to veteran entrepreneurs.
  • Beyond financial aid, many programs deliver mentorship, workshops, and tailored training for veteran business owners.

Veteran-owned ventures form a vital cornerstone of the American economy. With roughly 1.6 million veteran-led enterprises employing over 3.3 million people nationwide, their footprint is substantial. However, accessing startup and growth capital proves more challenging for veterans compared to non-veterans.

Luckily, an array of federal, state, and privately funded initiatives offer small business grants designed to help veterans launch and expand their companies. Below, we chart where to find these grants and how to navigate the application maze.

Business Grants Tailored for Veterans

1. Second Service Foundation

Previously known as StreetShares Foundation, this nonprofit fuels veteran entrepreneurship via its Military Entrepreneur Challenge — a platform where participants pitch their initiatives to a panel of judges. Grant awards fluctuate per contest; notably, in 2019, the top prize was $15,000, followed by $6,000 for second place and $4,000 for third.

How to Apply
  • You must be 21 or older.
  • Eligibility includes veterans, Reservists, National Guard members, or transitioning active-duty military personnel.
  • Applicants should fall under low-income criteria.
  • Must hold at least 51% ownership of the business.
  • Register for upcoming events to participate.

2. Warriors Rising Small Business Grants

Founded by veterans in 2015, Warriors Rising is a nonprofit delivering grants and mentoring to veterans and their immediate kin. Dubbed “Veterepreneurs,” members engage in a six-step journey featuring Zoom coaching and personalized mentorship.

One standout event is the “Business Shower,” similar in spirit to baby or bridal showers, designed to arm veteran entrepreneurs with funding, client and investor connections, plus pro services like website design and equipment provision.

How to Join

Apply online to become a Vetrepreneur. Once accepted, expect a confirmation email, a follow-up call, and onboarding paperwork sent electronically.

3. Grants.gov

This comprehensive digital repository lets you sift through a multitude of federal grants, including those from the U.S. Department of Veterans Affairs and the Department of Defense.

Application Steps

Create an account on Grants.gov and carefully review eligibility before submitting your application.

4. Hivers and Strivers

A venture group exclusively investing in veteran-led startups, Hivers and Strivers offers equity funding ranging from $250,000 up to $1 million. They’re keen on “highly scalable” business models.

Note: This is equity investment rather than a grant, but might appeal to veterans pursuing substantial capital infusion.

How to Submit

Pitch your venture through their website. Businesses in cannabis, lifestyle sectors, or those holding government contracts do not qualify.

5. Small Business Innovation Research (SBIR) Program

Though not veteran-specific, the SBIR program presents an inviting avenue for innovative veteran entrepreneurs. Funding is disbursed in two phases — an initial $150,000, followed by up to $1 million over two years in subsequent rounds.

How to Apply

Register with SBIR and contact funding agencies directly, as processes and criteria vary by agency.

6. VetFran

VetFran connects veterans with franchisors eager to expand their footprint. Franchise fees, often costly, are discounted — sometimes fully waived — for veterans aiming to own a franchise business.

How It Works

Visit VetFran’s roster of franchise partners, then follow each franchisor’s distinct application procedures.

Additional Insight: Over the last five years, the National Association for the Self-Employed (NASE) has offered up to $4,000 in grants to members aiming to boost self-employment efforts — whether by marketing, expanding facilities, or creating jobs. Veterans benefit from immediate eligibility upon joining, bypassing usual waiting periods.

How to Apply for NASE Grants
  • Join NASE online, then apply via their website.
  • Provide a clear business need.
  • Explain in detail how funds will be utilized.
  • Demonstrate how the grant meets your business needs and fosters growth.

8. Veteran Readiness and Employment (VR&E)

VR&E focuses on veterans with service-connected disabilities transitioning to civilian life. While it doesn’t directly hand out grants, its self-employment track offers business planning support, training in marketing and finance, and assistance in connecting to funding opportunities.

Application Details

Applicants with qualifying disabilities can apply online, in person, or by mail. A Vocational Rehabilitation Counselor will assess eligibility post-application.

9. Michigan Veteran Entrepreneur Lab

This accelerator, spanning three months, serves Michigan-based veterans and military spouses. Participants receive practical business education and can compete for grants up to $20,000 during a culminating pitch event.

How to Apply

Fill out an online form to begin. Introductory in-person sessions are held before each program cohort.

10. Texas Woman’s University Veteran Woman Grant

Exclusively for female veterans residing in Texas, this annual program awards $5,000 grants to five recipients each year, supporting women who own or plan to create businesses with at least 51% stake.

Application Info

Applications open early each year.

11. Maryland Military Personnel and Veteran-Owned Small Business Loan Program

Though technically an interest-free loan — not a grant — this offering provides up to $100,000 with repayment terms between one and eight years. It applies to veteran-owned businesses, reservists, and National Guard members activated for duty, as well as small companies employing veterans.

Application Requirements
  • Submit your business plan with three-year projections.
  • Provide sources and uses of funds.
  • Include personal financial statements.
  • List all business owners.
  • Attach resumes of principals.
  • Supply personal and business tax returns from the last two years.
  • Explain any personal/business funds going toward the project.
  • Detail collateral to secure the loan.

Applications close annually near the end of August and are submitted to Maryland’s Department of Commerce.

12. Venmo Small Business Grant

Venmo awards twenty grants of $20,000 each to small business owners, paired with mentorship and promotional opportunities through its social media channels.

Eligibility & Timeline
  • Must hold a U.S. Venmo account with a valid business profile in good standing.
  • Annual revenues below $50,000.
  • Ten or fewer employees.
  • Applications generally open in May; winners announced in July.

13. Stephen L. Tadlock Veteran Grant

Founders First champions diverse entrepreneurs, including veterans, by offering financial grants and coaching. In tribute to U.S. Navy veteran Stephen L. Tadlock, 25 grants of $1,000 are awarded annually to veteran-owned firms.

Application Essentials

Open until October 16, 2023. Applicants must own businesses with 2-100 employees, less than $5 million annual revenue, and be in operation for a minimum of one year.

14. Founders First Job Creators Quest Grant

This initiative grants 25 small businesses a share of $100,000 and scholarships for accelerator programs, focusing on Southern California companies willing to create premium wage jobs.

Who Qualifies

Businesses with at least two employees, annual revenue between $100,000 and $3 million. Applications open mid-October.

15. FedEx Entrepreneur Fund

In partnership with Hello Alice and the Global Entrepreneurship Network, FedEx distributes thirty $10,000 grants with a priority for military-connected and disabled entrepreneurs, alongside educational resources.

How to Apply

Create a Hello Alice account and submit an application by early October. Business owners must have 51% military-connected ownership, fewer than 25 employees, and under $7 million revenue.

16. GrantWatch

GrantWatch aggregates nonprofit and small business funding opportunities across the U.S., including veteran-specific grants.

Access Details

Memberships range from $18 weekly to $199 annually, granting access to their extensive database.

Additional Veteran Business Resources

Funding isn’t the only avenue of support for veteran entrepreneurs—numerous programs offer loans, equity options, and expert advice.

Veteran Business Outreach Centers

The SBA’s nationwide network delivers hands-on guidance to veterans launching or growing enterprises.

Veteran Institute for Procurement

This online treasure-trove houses detailed resources on federal and state initiatives supporting veteran entrepreneurship and funding acquisition.

State and Local Programs

Many states and nonprofits operate specialized programs for veterans. For instance, Michigan’s Veteran Entrepreneur Lab, mentioned earlier, is an excellent example of local support.

Beyond Grants: Alternative Funding Paths for Veteran Entrepreneurs

Because competition for grants is fierce and usage is often restricted, exploring other financing routes might suit your business better.

  1. Small Business Loans: Lump sums repaid in fixed installments rather than revolving credit.
  2. SBA Loans: Flexible funding with revolving credit, interest only on borrowed amounts.
  3. Business Credit Cards: Cards offer perks like grace periods and rewards, unlike some lines of credit.
  4. Personal Lending: Family or friends might offer low or no-interest loans — ensure clear repayment terms.
  5. Crowdfunding: Raising small contributions from many backers, ideal for community-centered or pre-sale product ventures.

Veteran entrepreneurs seeking capital to build or expand their ventures will find that grants provide non-repayable funding — a major boon — but should also weigh other financial tools available.

Frequently Asked Questions

How can I qualify for a small business grant?

Requirements vary by program but commonly hinge on your veteran status, company size, and industry focus. Always consult the specific grant provider’s criteria.

What perks does owning a veteran business confer?

Veteran-owned entities enjoy marketing advantages, preferential treatment in contract bidding for federal and state projects, specialized grant programs, and a suite of additional benefits.

Does the Department of Veterans Affairs provide business loans?

No direct loans come from the VA, but banks and online lenders often have products aimed at veteran business owners.