Grants can be a great financial tool to promote the growth and development of your company. Grants are a form of non-dilutive capital. Your company does not have to pay back this capital as long as you meet the requirements of the granting organization. Veteran-owned businesses can apply for grants from private foundations, corporations, or local, state, and federal governments. In this article, we list 3 grants as examples of the types open to Veterans who want to grow their business:
Veterans Support Foundation
Some grants focus on companies with a mission of providing benefits to Veterans. The Veterans Support Foundation aims to improve the quality of life for deserving veterans and their families. It provides grant funding to projects sponsored, supported, or endorsed by the National Board of Directors, State Councils, and Chapters of the Vietnam Veterans of America (VVA). VSF provides funding solely for scientific, charitable, and educational purposes and gives priority to matching fund projects. VSF funds grassroots start-up projects that directly affect veterans and their families. Grants are scheduled for a one (1) year period and are considered for “one-time or start-up projects”. Projects that prove beneficial to veterans and develop a track record of providing needed services and/or performance will be considered for funding in subsequent years. Applications are accepted from October 1 to March 31, annually.
Cadillac Area Community Foundation (MI) - Wexford Missaukee Veterans' Grants
Many grants aim to improve the communities where the companies are located. Wexford/Missaukee Veteran’s Grants are a good example. For over 25 years the Cadillac Area Community Foundation has been providing grants to area neighborhoods, health and social service agencies, cultural organizations, educational institutions, youth organizations, economic development projects, and other community groups. Your own community may have a similar type of grant available.
Texas Veterans Commission - Fund for Veterans Assistance General
Other grants provide support to organizations looking to increase employment or skills development of Veterans. The grants are available to local governments, nonprofits, and Veteran-serving organizations which allows Veterans more options to access much-needed services in their community. General Assistance: Grants focus on improving the lives of Veterans and their families. Such needs include, but are not limited to: employment support, financial assistance, homeless veteran support, pro bono legal services, referral services, supportive services, transportation programs, and services to veterans, dependents, and surviving spouses.
Every year governments and organizations provide 10,000+ grants. Being Veteran-owned opens a whole world of grants to even for-profit companies. The challenge is finding and applying for those grants that best meet our missions. That’s why we recommend talking with Ryan Alcorn, Founder, and CEO at GrantExec. His 6 steps to apply for veteran-owned business grants can make the process easier for you.
You can also watch a recent discussion we had with Ryan to learn more about how to remove some of the mystery from the grant process for Veteran-owned businesses.