How to Get Funding for a Woman Veteran Owned Small Business

Starting or expanding a woman veteran owned small business is an exciting journey, but securing funding can often feel like a daunting task. Fortunately, there are resources, grants, loans, and mentorship programs specifically designed to support women veterans in business. This article will guide you through the best funding options and provide actionable steps to help you succeed.

Why Support for Woman Veteran Owned Small Businesses Matters

Women veterans bring unique skills and perspectives to the business world, thanks to their military experience. However, they often face barriers such as limited access to capital and fewer networking opportunities. Recognizing these challenges, several government agencies, nonprofits, and private organizations offer tailored funding options to empower women veterans in entrepreneurship.

Let’s dive into the best ways to secure funding for your woman veteran owned small business.

1. Explore Government Grants and Programs

Government-backed grants and loans offer significant support without requiring repayment in some cases. Here are the top options:

a) The U.S. Small Business Administration (SBA)

The SBA provides resources specifically for veterans and women entrepreneurs:

• Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE): A training program that helps female veterans and military spouses grow their businesses.
• SBA Office of Veterans Business Development (OVBD): Offers counseling, training, and assistance in accessing capital.
• Boots to Business (B2B): Part of the DoD’s Transition Assistance Program (TAP), this program offers free entrepreneurship training to veterans and their spouses.

b) Service-Disabled Veteran-Owned Small Business (SDVOSB) Program

If you have a service-connected disability, your business could qualify for contracts set aside by the government through the SDVOSB program. This increases your chances of securing government funding and contracts.

c) Grants.gov

Search for federal grants specifically for veterans and women-owned businesses on Grants.gov. You’ll find opportunities that cater to various industries and stages of business growth.

2. Apply for Veteran-Specific Business Loans

If grants aren’t available or don’t cover all your needs, loans designed for veterans can be an excellent option:

a) SBA Veterans Advantage Program

This program reduces fees on SBA loans for veterans, making financing more affordable. Loan types include:

• 7(a) Loan Program: Ideal for working capital and purchasing equipment.
• Microloans: Small loans (up to $50,000) for startups and micro-businesses.

b) Military Reservist Economic Injury Disaster Loan (MREIDL)

If you’re called to active duty, this loan provides working capital to keep your business afloat during your absence.

c) StreetShares Foundation

StreetShares offers loans and grants specifically for veteran-owned businesses. Their Veteran Small Business Award is a grant that recognizes outstanding veteran entrepreneurs.

3. Seek Out Grants for Women Entrepreneurs

In addition to veteran-specific funding, you can apply for grants designed for women-owned businesses:

a) Amber Grant for Women

Each month, the Amber Grant Foundation awards $10,000 to a woman entrepreneur, with an annual $25,000 grant for one winner. Veterans are encouraged to apply.

b) IFundWomen

A funding platform that connects women-owned businesses with grants and crowdfunding opportunities.

c) Cartier Women’s Initiative

This global grant program supports women entrepreneurs with funding, mentorship, and networking.

4. Leverage Nonprofits and Community Organizations

Several nonprofits focus on supporting veterans and women in business:

a) Women Veterans Alliance

This organization provides access to funding opportunities, training, and networking events.

b) The Rosie Network

Founded by military spouses, The Rosie Network offers free training, mentorship, and resources for veteran-owned businesses.

c) Bunker Labs

A national network that helps veterans and their families start and grow businesses by providing funding resources and community support.

5. Crowdfunding and Alternative Funding Sources

If traditional funding routes aren’t a fit, consider these alternatives:

a) Crowdfunding

Platforms like GoFundMe, Kickstarter, and Indiegogo allow you to raise funds directly from supporters. Sharing your unique story as a woman veteran can help connect with potential backers. Read more about how to get crowdfunding for your business here.

b) Peer-to-Peer Lending

Websites like LendingClub and Funding Circle connect you with investors willing to lend directly to small businesses.

c) Angel Investors and Venture Capital

Look for investors who focus on supporting minority-owned or veteran-led businesses. AngelList and VetInvest are great places to start.

6. Prepare a Winning Funding Application

Regardless of the funding type, you’ll need a strong application for your woman veteran owned small business. Here are a few tips to increase your chances of success:

• Create a Business Plan: Outline your mission, market research, financial projections, and unique value proposition.
• Highlight Your Veteran Status: Many funding organizations value military experience. Emphasize your leadership, resilience, and problem-solving skills.
• Personalize Your Story: Share why you started your business and how military service shaped your entrepreneurial journey.
• Proofread and Polish: Ensure your application is well-organized and free of errors. Consider having a mentor or fellow entrepreneur review it before submission.

7. Use Mentorship and Networking for Ongoing Support

Securing funding is only part of the journey. Networking and mentorship can provide long-term support:

• SCORE Mentors: Offers free business mentoring and education.
• Veteran Business Outreach Centers (VBOC): Provides training, counseling, and referrals for veteran entrepreneurs.
• Local Chambers of Commerce: Many chambers offer support for veteran and minority-owned businesses.

Final Thoughts

Getting funding for your woman veteran owned small business requires persistence, research, and preparation — but the rewards are worth it. By leveraging the right resources and crafting a compelling story, you can secure the capital needed to grow and thrive.

Whether you pursue grants, loans, crowdfunding, or mentorship, don’t hesitate to tap into the network of organizations ready to support you. Your service to the country is already proof of your resilience — now it’s time to apply that same determination to building your business.