SBA Grants $3.5 Million to Expand Support for Veteran-Owned Small Businesses with New VBOCs in Multiple States

The US Small Business Administration (SBA) said the grants will assist with critical funding for new Veterans Business Outreach Centers (VBOCs) in Alaska, California, Colorado, Iowa, Nebraska, Nevada and South Carolina, strengthening training and counseling services for these aspiring and existing military owners and spouses.

Isabella Casillas Guzmana US small business administrator, said:

Our service members have protected our nation with selfless sacrifice and honor, and the Biden-Harris Administration is committed to supporting them with resources and opportunity as they pursue their American dreams of business ownership.

Highlighting how there are approximately two million veteran-owned small businesses in the US, employing more than five million people and generating more than $1.3 billion in annual revenue, the SBA announced that the VBOC program locations will grow from 22 to 28, thus providing full service to all 50 states, the District of Columbia, Puerto Rico, the US Virgin Islands, Guam, and American Samoa.

“With this expansion of our Veteran-focused network of small business centers, we are able to help more transitioning service members, veterans, National Guard and Reserve members, and military spouses start and grow their businesses and move forward our economy”, added Casillas Guzmán.

With this expansion of our veteran-focused network of small business centers, we can help more transitioning service members, veterans, National Guard and Reserve members, and military spouses start and grow their businesses and advance our economy.

— Isabel Guzman (@SBAIsabel) April 21, 2023

The grants will support a variety of services, including:

• business planning — Provides training and advice to veterans on accounting, financial planning and management.
• Assistance accessing capital — Helps veterans understand the multitude of sources of capital available to them, as well as help them access financing, loans and grants.
• Marketing and extension — Provides marketing and outreach services to promote veteran-owned businesses in their communities and beyond.
• Transition — Provides Boots to Business instructions to help active duty members transition out of the military.

The grant recipients are as follows:

• Seattle Economic Development Fund – Business Impact Northwest, Seattle, WA / Coverage Area: Alaska
• University of Texas Arlington College of Business, Arlington, Texas / Coverage Area: Nevada
• Mt. Carmel Veterans Service Center, Colorado Springs, Colorado / Coverage Area: Colorado
• Nebraska Enterprise Fund, Oakland, NE / Coverage area: Nebraska and Iowa
• The Citadel, Charleston, South Carolina / Coverage Area: South Carolina
• Long Beach City University, Long Beach, California / Coverage Area: California — Los Angeles County, San Bernardino County, Ventura County, Orange County, Santa Barbara County, and Riverside County

“VBOCs are a one-stop-shop for business training, counseling, and resource partner referrals for transitioning service members, veterans, National Guard and Reserve members, and military spouses interested in starting or growing a small business. . The new centers will provide additional resources to increase support and access to nearly 2 million veteran-owned small businesses. Expanded locations aim to improve the experience for veteran small business owners with more training opportunities and less wait times for appointmentssaid Timothy Green, Acting Associate Administrator for the Office of Veterans Business Development.