Veterans are an ever-increasing portion of the business owner population
Veterans are an ever-increasing portion of the business owner population. Veteran Owned Businesses (VOB) are also some of the most challenged in growing and expanding, simply because the veteran doesn’t know what resources are available or how to manage them. For instance, a US Census Survey from VOB’s revealed that 56% of veterans that want to open a business or have recently opened a business do not have the cash to properly open or operate a business. And being underfunded is one of the largest killers of a start-up business.
The same survey revealed that the number one funding source for a VOB was personal cash. That was followed by family and friends, liquidating your personal 401(k), then lines of credit. Simply because they do not know what is available to them. To break down the challenges for obtaining funding even further, 56% do not have the cash or know where to get the cash for a down payment, 41% have a lack of funding options, 34% are disqualified due to their credit score, 24% were not approved for a bank loan, and 19% didn’t want to take on debt.
While the SBA can provide loans to veterans, they are still subject to conventional loan guidelines for the most part. There is no need to pursue those financing options anymore to open your business. It is now possible to get unsecured funding for your business that is also interest free for 12-18 months! It requires a fair credit score, and if you do not repay it during the interest free window you face the normal accruing interest fees. That alone sounds scary, but not only will the VBBP help you get that funding, we will also teach you how to best use those funds and get it paid off before interest begins! That is a major part of our program, something no other program offers. That is on top of creating your business plan, company logo, webpage, and teaching you the fundamentals of how to operate your business while avoiding the common mistakes that break a start-up.
The VBBP is the team and organization you need to launch the next mission in your life and help ensure your success. To find out more about how the VBBP can help you transition from the military to building a legacy for you and your family, click here.