Help for Veterans:
Starting or Growing a Small Business
Many incentive programs offer support for military veterans opening or
growing a business, and Alabama's SBDC counselors can help. With Veterans'
Day upon us, here are a few tips for getting started.
No-Cost Business Counseling:
Veteran-owned businesses make significant contributions to the
economy and because of their unique technical and leadership skills
acquired through military service, they can become successful
entrepreneurs. The Alabama SBDC Network has
helped over 900 veteran-owned businesses over the last two years, and
has been helping Alabama's veterans since 1980.
If you are a veteran - or if you know of a veteran - that is interested
in starting or growing a business,
please give
us a call - we'd like to help!
Access to Capital:
SBA had a near record year lending to veteran-owned small businesses in
fiscal year 2011, with more than 4,300 loans totaling $1.5 billion in
its flagship 7(a) and 504 programs. Since 2007,
SBA’s Patriot
Express loan pilot initiative alone has guaranteed loans of more
than $667 million to nearly 8,100 veterans, reservists and their spouses
to establish or expand their small businesses. The initiative, extended
through 2013, provided more than 1,560 loans totaling $142 million in
fiscal year 2011. Patriot Express is offered by SBA’s network of
participating lenders nationwide and features one of SBA’s fastest
turnaround times for loan approvals. The
Patriot Express program is under-utilized in Alabama.
Contact
one of our small business finance specialists to learn how you can
participate!
Government Contracting:
SBA worked with both contracting officers and veteran-owned small
businesses to deliver the highest-ever percentage of federal contracts
to service-disabled veteran-owned small businesses in FY2010, totaling
$10.4 billion. Also, through parity legislation, SBA reestablished a
level playing field for service-disabled veteran-owned businesses that
compete with other small businesses for set-aside contracts.
Alabama's PTAC Program (Procurement Technical Assistance Center) has
helped service-disabled veteran-owned businesses
win over $15 million in prime contracts over the last two years and has
been helping Alabama's veterans since 1988.
Contact one of
our procurement counselors to learn more!
The Director of the PTAC program is a service
disabled veteran, and is dedicated to serving Veterans, Service-Disabled
Veterans, Reserve Component Members, and their Dependents or Survivors.
