Do you have a great business idea which you would to see come into fruition but you do not have enough funds to make it a reality? There are various ways to fund a business and if you are a veteran of this great nation of ours, you are at an advantage. The government offers various programs so that veterans can expand their already existing business or start one. There are many sources of veterans small business loans aside from the government. There are also private institutions that are willing to lend money and help veterans get back on their feet.
Getting a business loan is different from getting a car loan. You cannot just go to the bank and say “I need money to start a business”; like you would say “I need money to buy a car” or “I need some cash to help with getting one of those let to buy mortgages”. Getting business loans means a lot of research. Without the proper research and a solid business plan, you will not be given a loan. Applying for a business loan just does not mean that you fill out a form, submit it and wait for someone to contact you and give you further instructions. You need to make a strong case of needing the money. You will have to convince the lenders that you are worthy enough to lend money to and that you are capable of paying the loan back with what hopefully is going to be a rapidly growing business.
You will have to make an analysis of the business you would like to invest in. You will need to learn as much as you can about running a business. You will be asked about it. Some of the specific points which you would need to address are the type of business, the sources of potential loans and grants, the number of employees you need, the projected revenues and expenses, how much money is needed to run the business in its first year, business marketing and competition. You will need all these details during your loan proposal. Lenders will ask you for these details so you should have all your answers prepared.
One of the loans which you should give consideration to is the Patriot Express Pilot Loan Initiative. This is a loan from the Small Business Administration of the government. You can visit their site to learn more about the loan. With this loan, you stand the chance of getting the maximum amount of $500,000. It is a must to take note that there are requirements to fulfill. Follow instructions when you apply for the loan.
You can also look at the international Franchise Association’s VetFran. You can go to VetFran.com for this. They have special offers for veterans who would like to become self-employed. This is also a program which offers veterans franchises of businesses involved in home care, food and cleaning.
As you can see, veterans today are in good hands. The government, along with other private institutions, has programs which are dedicated to helping discharged soldiers of the country so that they can start living a new and fruitful life. Their future looks bright, indeed.