Veteran-Owned Businesses
There are over 2.4 million veteran-owned businesses in the USA, employing nearly 6 million people nationwide. Veteran business owners in all industries can strengthen their success and outpace their competition with up to $250,000 in funding from NextGen Capital in as little as 24 hours.
Fast, Easy Small Business Loans for Veterans
There are many resources available to help veteran-owned businesses succeed, including government support, grant programs, and special financing programs. However, these resources can be hard to find and even harder to access, especially for newer businesses or veterans with gaps in their financial history.
Sometimes, your business needs an infusion of working capital to meet the challenges of your industry or to continue to grow and expand. Veteran-led enterprises may be able to get the funding they need from other sources, but the application process can take months, and there’s no guarantee of approval. Opportunities to grow and expand can quickly disappear while you wait.
With a simpler application, faster turnaround, and flexible approval requirements, NextGen Capital can fund more veteran-owned small businesses in as little as one business day. We offer a variety of small business funding options for veterans, from as little as $3,000 up to $250,000. We fund all industries, including construction businesses, retail businesses, law firms, medical practices, business services, retailers, manufacturers, and more.
Base Conditions Of Financing Veterans Entrepreneurs
Funding Range | up to $250K |
Setup Fee | $349 minimum or 4% of funding amount |
Funding Disbursement Fee | $75 USD for US-based entities |
Term US States & Territories: | 1st Position: 3 – 15 months 2nd Position: 3 – 9 months |
Veteran-Owned Small Business Financing Solutions
Our friendly, expert Funding Advisors will work with you to determine which funding option will help you achieve your goals without compromising your business’s cash flow.
Merchant Cash Advance
You get working capital when you need it. We’ll receive a percentage of your daily or weekly credit card sales until the advance is repaid.
Invoice Factoring
Sell us your pending invoices in exchange for the net amount in cash. You’ll receive the balance of the invoices’ value when we receive payment (minus our fee).
Collateral Loan
A secured loan that uses commercial real estate to reduce risk. Because the loan is secured, you may be approved for larger loan amounts with lower rates and fees.
Business Line of Credit
Borrow as much or as little as you need without the obligation of a fixed term loan. Draw and repay as you go, and only ever pay interest on the amount you've borrowed.
How To Use Small Business Loans for Veterans
There are no restrictions on how you can use alternative Small Business Loans for Veterans. Business funding for minorities are most ideal for supporting growth initiatives that will increase your business’s revenue, such as:
- Hiring staff so you can expand services and take on more business
- Purchasing new equipment or technology
- Renovating or remodeling your space to offer a more comfortable environment
- Expanding your business or acquiring another business
- Building a new website or expanding your existing online presence
- Purchasing raw materials or inventory in bulk at lower prices
- Investing in continuing education and training
- Energizing your marketing and advertising to bring in more business
Will You Qualify for Veteran Small Business Funding?
Minimum Revenue | $10,000 / month |
Length in Business | 5 months or more (Michigan requires 1+ year TIB) |
Ownership % | Minimum of 51% Ownership |
Personal Credit | US FICO 500+ |
Business Activity | At least 2 transactions per month |
Bank Balance | Positive average bank balance |
Overdrafts & NSFs | Fewer than 25 overdrafts/NSFs in 3 months, and less than 20 negative balance days |
Entity Types | All entity types, including sole proprietorships and non-profits |
Will You Qualify for Small Business Funding?
Exact qualification requirements depend on the type of funding you are seeking. NextGen Capital doesn’t base approval solely on your credit score or financial history. Instead, we consider the overall health of your business, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
- Pay for professional development courses for you and your team
How Accounting Firm Funding Works
FAQ about Funding for Veteran-Operated Companies
To qualify as a veteran-owned business, you must register your business as Veteran-Owned Small Business (VOSB) through the Vets First Verification Program.
Yes, NextGen Capital offers funding options like merchant cash advances and collateral loans that are accessible to veterans with less-than-perfect credit, focusing more on the overall health of the business rather than just credit scores.
