The StreetShares Foundation is committed to creating more opportunities for military veteran entrepreneurs. Their grant program allows us to boost veteran small businesses in a big way by providing opportunities for access to capital.
Grant amount: $4,000-$15,000
The StreetShares Foundation is a 501(c)(3) nonprofit organization that provides grants and other funding opportunities for veterans and their families to support and maintain their small businesses. The mission of this organization is to educate, support, and encourage veteran entrepreneurship by providing the resources that may be challenging for this community to secure.
This is a terrific resource for veteran entrepreneurs because of its exceptional grant program as well as access to tools and mentorship.
To apply for a StreetShares Foundation grant, you need to meet the following criteria/eligibility requirements:
- Applicants must be a veteran, reserve, or transitioning active duty member (spouses and children of veterans who died in active duty can also apply for this grant).
- Applicants must own at least 51% of the business entity that is applying.
- Applicants must be low-income or lack financial resources to grow or support their business.
Pros
- This grant is available not only for veteran and active service military but for military spouses and children of veterans that died in active duty.
- There are three winners for this grant that receive different sums, so if you are in the top three, you still have the opportunity to earn money for your business.
- Once applications are submitted, your business’s fans can vote for your business to win the grant money.
Cons
- The application process is fairly intensive and requires a pitch video, application, and presentation at the Military Influencer Conference in order to qualify.
- Businesses must convey how their business model serves the military and veteran community, which means not all business types will qualify.
Veteran small businesses make up approximately 9 percent of all American firms and employ 5.8 million Americans according to the SBA. It’s their mission to create opportunities for these veteran small business owners through inspirational success stories, educational content, or awards that provide a boost of financial support to grow their business.
Applicants must:
* be a veteran, reserve or active duty member of any of the United States Armed Forces, OR a spouse of a military member or veteran. Applicant must be a U.S. person and at least 21 years old
* be a legal entity (sole proprietorship or legally incorporated LLC, S-Corp, or C-Corp or formal partnership) under the laws of any U.S. jurisdiction or a legal 501(c)(3) nonprofit
* own at least 50 percent of the business
Also, the business entity must have a social impact on the American military veteran community in addition to or in conjunction with the business function.
Deadline:
October of every year
Amount:
$4,000 – $15,000