The U.S. Small Business Administration (SBA) today awarded $300 thousand in grants to three organizations that will offer entrepreneurship training to women service members, veterans and military spouses, the company reported on Thursday.
"Women veterans represent a fast-growing segment of the veteran population. As this number grows, so has the number of women veterans who continue to serve their country by becoming small business owners," said Larry Stubblefield, Associate Administrator for SBA's Office of Veterans Business Development.
The administration’s funding will be granted through SBA's Office of Veterans Business Development. It will support the selected organizations’ entrepreneurial programs for women who serve in our military and veteran communities.
The awardees were chosen based on the organizations’ demonstrated commitment to provide training programs and resources to women. One of the awarded companies, Lift Fund, was awarded $75 thousand of the grants. Lift Fund is a non-profit organization that has supported small business owners with limited access to capital.
The Women Veteran Entrepreneurship Program offers in-person and online training opportunities, as well as one-on-one advising for women veterans, transitioning service members, active duty military and spouses who are aspiring or currently operating small businesses in Texas.
ONABEN: Beyond the Boots: A Veteran and Service Member Initiative was also awarded $75 thousand. ONABEN is a non-profit organization that delivers economic and entrepreneurial development services to the Native American business community.
The organization has provided entrepreneurial training services to support the growth of women veterans, service members, as well as women spouses of military personnel in Oklahoma, Texas, and Arkansas through coaching, webcasts, and training.
The program will provide women veterans with the resources to grow in business, explore the importance of social entrepreneurship to build stronger communities and economies, and overcome the challenges of small business through culturally appropriate capacity building, peer coaching, and entrepreneurial activities.
Securing the largest grant, Institute for Veterans and Military Families at Syracuse University: Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE) was awarded $150 thousand from the SBA.
The V-WISE program is an intensive three-phase program containing a 15-day online preparatory course, a three-day residency program, and post-training technical support. The program empowers women veterans and military spouses to find passion and learn the business savvy skills necessary to turn an idea or start-up into a growing venture.
"As women veterans, service members, and spouses continue to contribute greatly to our economy, we are eager to fund organizations that will support them through their entrepreneurial journey and set them up for success," added Stubblefield.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.