Lack of access to affordable financing has led to low rates of entrepreneurship among veterans. That’s why Carolina Small Business prioritizes engagement with this community through business coaching designed with veterans in mind and through access to the Veterans Direct Loan.
Those who are eligible for this specialized program can get a loan up to $250,000 at as low as a 7% fixed rate for existing businesses and up to six months of interest-only payments for qualified start-ups.
Outreach activities are managed by staff members who themselves have served, including Veteran Entrepreneurship Program Director Robert Rehder. Carolina Small Business partners with Veterans Business Outreach Centers (VBOCs) and other nonprofit and community organizations to offer workshops, meet & greets and other events geared to capitalize on the unique experience veterans bring to small business ownership. Our Policy & Research program also dives into the data to understand the challenges facing veteran entrepreneurs so that Carolina Small Business can advocate for this important constituency in the small business community.
To better highlight the needs of veterans on a larger scale, Carolina Small Business belongs to a multi-state community organization collaborative working to promote business ownership among those who served. The initiative, called the Veteran LLC Collaborative, is modeled on best practices related to the use of social networks for community development.
Our veteran community engagement is made possible through the generous support of funders such as Bank of America and JPMorgan Chase.