Veteran business owners looking for financial support have access to several grant programs that provide free funding to help start or grow their businesses. Unlike loans, grants do not need to be repaid, making them an attractive option for veterans who need financial assistance without taking on debt. 

While the application process can be competitive, securing a grant can provide much-needed resources to expand operations, purchase equipment, or invest in marketing.

One well-known program is the Second Service Foundation, previously called the StreetShares Foundation. This organization offers veterans and their spouses the chance to compete in the Military Entrepreneur Challenge, where winners receive grant funding for their businesses. Applicants must go through a speed coaching session, submit a detailed application, and pitch their business in front of a live audience. The top three finalists present their business ideas, and the audience votes for the winner.

Another program, Warrior Rising, focuses on helping veterans transition into entrepreneurs through a structured business development process. This six-step program includes mentorship, training, and networking. Those who complete the program may qualify for startup grants to help fund their business ventures. Eligible applicants must be veterans or immediate family members of veterans and complete the required application process.

Hiring Our Heroes, an initiative designed to support veteran entrepreneurs, offers $10,000 grants to five veterans or military spouses each year. To be eligible, the business must be at least 51% veteran-owned, have three to twenty employees, and show financial need. The deadline to apply is February 15, 2025.

For veterans in the farming industry, the Farmer Veteran Fellowship Fund provides financial assistance to those in the early stages of operating a farm or ranch. Applicants must be members of the Farmer Veteran Coalition, and applications are accepted from January 3 to February 14, 2025.

The Feed the Soul Foundation’s Restaurant Business Development Program offers a six-month training program for food-based businesses. Accepted businesses receive expert consultation, financial planning assistance, and a $10,000 stipend. The program prioritizes veterans as well as other underrepresented business owners, including seniors, people with disabilities, and previously incarcerated individuals.

Female veterans in Texas can apply for the Texas Woman’s University Veteran Woman Entrepreneur Grant, which provides $5,000 grants to up to five businesses each year. These grants can be used for purchasing equipment, marketing, or making property improvements. Eligible businesses must be at least 51% veteran woman-owned, and applications are accepted from January 21 to February 21, 2025.

For Michigan-based veteran entrepreneurs, the Michigan Veteran Entrepreneur-Lab provides an eight-week training program covering business development and strategy. Participants receive mentorship, access to networking events, and a chance to win a business grant in a pitch competition at the end of the program.

Veterans who are members of the National Association for Self-Employed (NASE) can apply for Growth Grants, which offer $4,000 each quarter. Membership is required, but veterans receive a 15% discount on the membership fee, allowing immediate eligibility for grant applications.

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) programs provide grants to veteran-owned businesses that focus on technological research and innovation. These federal programs are managed by the Small Business Administration and support businesses contributing to scientific advancements.

Grants.gov is another valuable resource for veteran entrepreneurs. This database contains over 1,000 federal grant opportunities from various agencies, including the Department of Labor and the Department of Veterans Affairs. While these grants are not specifically for veterans, they provide a good starting point for business owners seeking funding.

Other programs include Veteran Shark Tank, an annual pitch competition that awards $50,000 to a winning veteran entrepreneur, and the Stephen L. Tadlock Veteran Grant, which provides $1,000 micro-grants to 25 veteran-owned businesses each year.

In addition to grants, veterans can access free resources and support services to help grow their businesses. The Veteran Business Outreach Centers, backed by the SBA, offer training, mentorship, and financing advice. Programs like Boots to Business provide entrepreneurship training for transitioning service members and their spouses, while the Institute for Veterans and Military Families at Syracuse University offers business education and networking opportunities.

For those interested in franchising, the VetFran program connects veterans with franchise opportunities, often offering special discounts and incentives. Meanwhile, the Veteran Institute for Procurement helps veteran-owned businesses secure government contracts through specialized training and certification assistance.

Veteran entrepreneurs also benefit from state and local programs. Many states offer specific funding and training opportunities for veteran-owned businesses. For example, Florida’s Office of Supplier Diversity provides certification programs that help veterans compete for government contracts.

While securing a small-business grant can be challenging due to high competition, exploring multiple funding sources and resources increases the chances of success. Veterans should also consider alternative financing options, such as SBA loans, peer-to-peer lending, and investment programs like Hivers and Strivers, which provides funding specifically for veteran-owned startups. 

Taking advantage of these opportunities can help veteran entrepreneurs access the financial support they need to succeed in their business ventures.