Hi Vince, By all means look at what resources are available to veterans, but bear in mind that ultimately you'll probably be ensding up with a loan like everyone else. The lending criteria might be better and the interest rates more favourable, but in the end you'll still be incurring debt. What sort of business are you looking to start up? Do you have any startup capital or are you going to need to borrow everything? I ask because like all new businesses, if your strart up costs are high, then you'll need to think very carefully about how long you can afford to go without revenue and still be able to service the debt. Minimise your start up costs wherever posiible, and bear in mind that you can always expand later, but if you over commit in the early stages the interest burden can cripple you financially and restrict your ability to grow.

For get about grants - they just don't work that way. There are several SBA loan guaranatee products that might suit you. Call around to local banks and see if they offer SBA loans. Keep in mind that the bank still has to underwrite the request and bank lending is still tight - but, SBA loans are picking up. There are many ways to buy a franchise - first start with the franchisor - many either have their own financing programs in place or have preferred agreements with lenders. For other start up needs - it really depends on you. Lenders want to make sure that they get repaid (so would you if you lent out your money). Thus, they look at credit (shows if you have paid back others) and cash flow (your ability to make monthly payments) - for a start up, that cash flow has to come from you at time of application - not what you think you can make years down the road. So, when applying for debt, make sure you have these things in place.

Vince, glad you found the information you were looking for. You're right to be wary of tkaing too much advice from online blogs, but this forum is one of the few that is run well and has a good membership of business minded people regularly posting. Aside from the Grants information you can also find information on loan options and similar funding menthods here.

I am impressed!  Thank you for the quick response(s).  I have to admit I was apprehensive with utilizing a blog  but I am very pleased with the information provided.  I'll continue to use this sight and I'm hopeful at some time I will be able to assist someone as well.  Sincerely,   Vince

Thank you BusPlanMaster for your input! There are no government grants for starting a business, paying off debt, or to cover operating expenses. However, you can use the Loans and Grants tool to see which government loans you are eligible for. Feel free to learn more about how to start and finance a business as a veteran and a minority.

Vince, From what I am hearing lately, you are probably better off focusing on your military background than on your minority status. Most particularly, contact your local VA office for the representative handling the Veterans Entrepreneurship and Small Business Development loan request. In August 1999 the US Congress enacted Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999. The Act was initially designed to cushion the impact on small businesses when their owners or essential employees who are reservists are ordered to active duty during military conflicts, but was expanded to provide assistance to veterans who are entrepreneurs and to service-disabled veteran entrepreneurs. For a while this was a real hard loan to tie down, but the glitches seem to have been smoothed over, and it is now more accessible. So go talk to a rep and find out what you might qualify for. Best, MaryAnnBusiness Plan MasterStart and Finance Your Business Now ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.