Updated: July 2026
You’ve served your country. You’ve had a defined role and actionable goals. But now you’re back home and asking yourself, “What now?” Many veterans are turning to entrepreneurship, taking advantage of veteran grants and loans to get started. If you’re a veteran interested in starting your own business, there are many people and organizations eager and ready to help with educational support and financial resources.
According to the U.S. Small Business Administration (SBA), veterans own more than 1.6 million businesses in the United States. Those businesses employ roughly three million workers, pay about $179 billion in payroll each year, and generate around $1 trillion in annual sales.
As a veteran, there’s a good chance you’ll make a great business owner. Vets tend to possess the skills required to lead and manage a growing business, including leadership, discipline, perspective, communication, and the ability to turn problems into opportunities. But getting started without any help can be difficult. Fortunately, there are many resources available to help you get off the ground and launch your new business, whether it’s a company you’re starting from scratch or an established franchise.
Business Funding for Veterans
As a veteran, you have access to funds that aren’t available to civilian business owners. Below we’ll cover grant and loan options for vets, as well as additional resources that can be helpful as you search for funding.
Small Business Grants for Veterans
Starting your own business can be expensive. Grants are a great way to fund your business. A grant is a sum of money, often from the government, a foundation, or a corporation, that supports a public benefit like economic growth or entrepreneurship. Grants often come with specific stipulations about how the money can be spent. The primary difference between a grant and a loan is that grants don’t have to be paid back, while loans do.
One note before you start applying: grant programs come and go quickly. Several well-known veteran grant programs from just a few years ago no longer exist, so always confirm a program is accepting applications before you invest time in applying.
1. Hiring Our Heroes Small Business Grants
The Hiring Our Heroes Small Business Grant program, an initiative of the U.S. Chamber of Commerce Foundation, opens annually for veteran-owned and military spouse-owned small businesses. Five winners receive one-time cash grants: four awards of $10,000 and one of $25,000. Eligibility focuses on businesses with roughly 3 to 20 employees and under $5 million in annual revenue.
2. Warrior Rising
Warrior Rising is a nonprofit founded by veterans that supports “vetrepreneurs” with training, mentorship, and grant funding. Applicants typically complete Warrior Rising’s training programs before becoming eligible for grant awards, which are delivered along with client contacts, investor introductions, and business services.
3. Stephen L. Tadlock Veteran Grant
Offered by Founders First CDC, this program awards $1,000 microgrants to 20 veteran business owners each year, along with access to business growth programming. It’s open to veteran-owned businesses with 2 to 100 employees and under $5 million in annual revenue.
4. National Association for the Self-Employed (NASE) Growth Grants
The NASE Growth Grants program awards grants of up to $4,000 throughout the year for business needs like marketing, equipment, and hiring. You must be a NASE member to apply, but you do not have to be a veteran, and NASE offers veterans a discount on membership.
5. Farmer Veteran Fellowship Fund
If your business idea involves agriculture, the Farmer Veteran Coalition’s Fellowship Fund awards $1,000 to $5,000 to veterans in the early stages of a farm or ranch business. You must join the Farmer Veteran Coalition to qualify.
6. State and Local Veteran Grants
Many states, universities, and cities run their own veteran business grant programs. For example, the Texas Woman’s University Veteran Woman Grant awards $5,000 each to 25 women veterans in Texas annually, and Michigan’s Veteran Entrepreneur-Lab combines a business accelerator with grant awards. Check your state’s veterans affairs and economic development websites, since state-level grants typically have less competition than national programs.
7. Hivers and Strivers
Hivers and Strivers, while not a grant, is an angel investment group started by veterans, for veterans. The fund invests exclusively in early-stage companies led by U.S. military veterans across all branches, with investments typically ranging from $100,000 to $1 million. One important note: Hivers and Strivers focuses on high-growth startups and does not invest in franchises.
Business Loans for Veterans
A loan is money given to another party in exchange for future repayment of the loan amount along with interest or other finance charges. A loan may be for a specific, one-time amount or may be available as an open-ended line of credit up to a specified limit. As a thanks for your service, many lenders offer veterans reduced fees or favorable terms on small business loans.
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1. SBA Loans with the Veterans Advantage
The SBA’s Veterans Advantage program reduces or waives upfront guaranty fees on SBA-backed loans for businesses that are at least 51% owned by veterans, service members, or qualifying spouses. That typically means no upfront guaranty fee on SBA Express loans and reduced fees on standard 7(a) loans, which can save thousands of dollars. Fee relief is set each fiscal year, so confirm current terms with your lender or at SBA.gov. Beyond fee relief, the SBA’s 7(a), Express, and 504 loan programs remain some of the most affordable financing options for any small business owner.
2. SBA Microloans
If you need $50,000 or less, the SBA Microloan program provides smaller loans through nonprofit intermediary lenders, many of which focus on underserved borrowers, including veterans. Microloans often come with business training and more flexible credit requirements, making them a good fit for startups.
3. Military Reservist Economic Injury Disaster Loan (MREIDL)
This SBA loan is intended for existing businesses that employ military reservists. If an essential employee is called to active duty, the business may qualify for a working capital loan of up to $2 million at a fixed 4% interest rate to cover necessary operating expenses until the employee returns.
4. Community Credit Unions and Local Banks
Local credit unions and banks are also a good place to look for small business loans with favorable rates. These community financial institutions tend to offer competitive interest rates and may offer additional discounts or incentives for vets, and several military-focused credit unions offer business lending to their members.
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Additional Financing Resources for Veterans
In addition to the grants and loans listed above, there are many organizations that offer support and assistance to vets looking for small business funding or general financial education.
1. Small Business Administration (SBA)
The SBA is the go-to resource for entrepreneurs and small business owners. It offers free business counseling and can connect you with lenders and funding programs. You’ll also find tons of articles and resources on planning, launching, growing, and managing your new business.
Boots to Business (B2B) is an entrepreneurial education and training program offered by the SBA as part of the Department of Defense’s Transition Assistance Program (TAP). B2B provides an overview of business ownership and is open to transitioning service members (including National Guard and Reserve) and their spouses. Veterans who have already transitioned can take the same curriculum through Boots to Business Reboot, offered in communities nationwide.
2. Veterans Business Outreach Centers (VBOC)
The VBOC program, funded by the SBA, operates centers across the country that provide veterans, active duty service members, and military spouses with free counseling, training, business plan development, and mentoring. VBOCs also facilitate the Boots to Business program.
3. The D’Aniello Institute for Veterans and Military Families (IVMF)
Syracuse University’s IVMF runs one of the largest portfolios of free and low-cost entrepreneurship training programs for the military community, covering everything from testing an idea to scaling an established company.
- Entrepreneurship Bootcamp for Veterans (EBV) offers experiential training in entrepreneurship and small business management to post-9/11 veterans in the early start-up phase of a business. The program combines online coursework with an in-residence session at a partner university, plus twelve months of follow-on support. The entire experience, including travel and lodging, is offered at no cost to participating veterans.
- Entrepreneurship Bootcamp for Veterans’ Families (EBV-F) offers the same style of training tailored to military spouses, family members, and surviving spouses, with content designed to fit entrepreneurship around caregiving and family responsibilities.
- EBV Accelerate is a bootcamp-style program for established veteran-owned businesses ready to grow, tackling topics like growth funding, cash flow management, partnerships, and strategic planning.
- Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE) supports women veterans, active duty women, and military spouses with a multi-week online business fundamentals course followed by an in-person capstone conference and ongoing support.
- IVMF also acquired Bunker Labs, the well-known veteran entrepreneurship nonprofit, and now runs its programs, including the Military Founders Lab virtual accelerator and the CEOcircle peer group for growth-stage companies.
4. VetFran
VetFran, a program of the International Franchise Association, connects veterans with hundreds of franchisors that voluntarily offer financial incentives to veteran franchisees, from discounted franchise fees to, in some cases, waived fees entirely. If you’re leaning toward franchising, VetFran’s directory is a smart first stop.
5. Veteran Small Business Certification (VetCert)
The SBA’s VetCert program certifies veteran-owned and service-disabled veteran-owned small businesses, opening the door to set-aside and sole-source federal contracts. Certification is free and can be a meaningful revenue channel once your business is up and running.
6. Grants.gov
Grants.gov offers a searchable database of current and past grants available through the U.S. government.
7. GrantWatch
GrantWatch.com is a database of grants offered by local municipalities, foundations, corporations, and more, with a dedicated veterans category. Browsing is free; however, full access requires a paid subscription.
8. Local Veterans Affairs Office
The VA directory can help you find a Veterans Affairs office near you that can assist you in finding grants and programs you may qualify for. The VA’s Office of Small and Disadvantaged Business Utilization also connects veteran entrepreneurs with resources and federal contracting opportunities.
9. State Grant Websites
State grant websites can help you find grants only available to residents of that state. Because of this, there is usually less competition for state grants.
10. Local Chamber of Commerce, Innovation Centers, and Business Centers
Your local Chamber of Commerce, innovation centers, and small business development centers can be great resources when searching for local and national grants.
Franchise Opportunities for Veterans
According to the Bureau of Labor Statistics, roughly 30 percent of new businesses fail within the first two years. If those odds give you pause, you may want to consider a franchise. Franchises are generally considered safer investments than startups, and many franchise brands offer discounts for veterans.
But what is a franchise exactly? A franchise is a legal and commercial relationship between the owner of a company (the franchisor) and an individual (the franchisee) who is starting a branch of that business using the business’s trademarks and business model. The franchisee sells the product or service that the franchisor supplies.
Should You Buy a Franchise or Start a Business From Scratch?
“Veterans are a great fit for owning a franchise business because of their strong operational experience,” says Eric Stites, founder of Franchise Business Review and a U.S. Navy veteran. “And franchising is also a great fit for veterans, with many franchise companies offering discounts and other financial incentives to vets. When you talk to franchise companies, be sure to ask about any incentives they may offer, and speak with veteran franchisees in their system about their experience operating the business.”
While a business background can be useful in operating a franchise, it’s certainly not necessary. One of the greatest benefits of buying a franchise is the tremendous support you’ll receive from the franchisor. Franchisors have a lot invested in their brand and want their owners to succeed. One of the common sayings in the franchise world is “in business for yourself, not by yourself.”
Army veteran Alice Garcia shares her experience as a Real Property Management franchisee with Franchise Business Review. Watch now.
Franchise Brand Discounts and Incentives for Veterans
According to Franchise Business Review data, one in eight franchises in America is owned by a veteran. Why do vets love franchises? Franchises allow you to be your own boss while following a proven business model. They offer both freedom and support as you venture out on your own. Plus, many franchises, like the ones listed below, offer veterans discounts and incentives. The brands listed here are just a small sampling of the many franchises that offer incentives for vets, so if you’re interested in a specific brand not mentioned below, make sure to ask them about discounts for vets.
- Two Men and a Truck, a moving franchise, offers veterans a 10 percent discount on their initial franchise fee.
- FASTSIGNS is a sign and visual graphics franchise that provides veterans with a 50 percent reduction in their franchise fee and reduced royalty fees for the first 12 months.
- Dream Vacations is a home-based travel agency that offers an initial fee discount of 30 percent, a training fee waiver, and more.
- Cruise Planners is also a home-based travel agency that offers $4,000 off its initial franchise fee, a $200 marketing credit, and free training for a co-owner or associate.
- Payroll Vault is a payroll services company that gives veterans 10 percent off their initial franchise fee.
- Wild Birds Unlimited is the largest and most recognized source for backyard bird feeding and nature-related products in North America. They offer veterans 15 percent off the initial franchise fee.
Entrepreneurship can be a great option for veterans looking to take the next step in their lives and careers. If you’re interested in pursuing small business ownership, the grants, loans, and resources above should be of tremendous help as you plan to open, manage, and grow your business. And if franchising sounds appealing, Franchise Business Review’s independent franchisee satisfaction research can help you find a brand where owners are genuinely happy.
See the Top Franchises for Veterans, as rated by the franchisees who own them.
