Wisconsin has about 460,000 small business owners statewide who can apply for small business grants. Submitting an application and competing for Wisconsin small business grants can help you grow your small or medium-sized enterprise in the Badger State.
Wisconsin has a gross domestic product of $401.8 billion as of 2022, ranking its economy as the 21st largest GDP in the United States out of the 50 states and the District of Columbia. Small businesses contribute to the nation’s economy.
Small and medium-sized firms exported about $5.4 billion worth of goods from Wisconsin in 2020, which ranks 17th in the nation out of the 50 states and Washington, D.C., according to the most recent U.S. Census Bureau export data.Below we highlight some of the top small business grants in Wisconsin that you can explore.
(Learn more: Personal Loan Calculator)
Grants for Small Businesses in Wisconsin
If you’re looking for small business grants in Wisconsin, here are some potential options to consider:
Collaborative Market Access Grant
- Program description: This program provides grants to eligible nonprofit organizations, industry associations, or economic development agencies that support export-ready businesses in Wisconsin. Export-ready companies can then receive a portion of the grant as pass-through financial assistance for increasing their exports.
- Incentive: Economic development organizations can receive up to $150K for helping export-ready companies sell their goods abroad. Your business can then receive a portion of that grant — up to $15,000 — for increasing your total export volume.
- General requirements: Here are some of the general requirements for this grant:
- Operate a Wisconsin-based company
- Collaborate with an outside organization on a collaborative business project
- Your collaborative project must be a viable solution for increasing your company’s export volume
- The outside organization must demonstrate an administrative capacity to manage the project in collaboration with your company
- How to apply: Contact the Wisconsin Economic Development Corporation (WEDC) for application information.
International Market Access Grant
- Program description: This program reimburses eligible Wisconsin businesses for expenses related to international business development, such as the costs of attending trade shows or growing your presence in foreign markets.
- Incentive: Receive up to $10,000 in reimbursement for implementing an export project or up to $25K if your company completes the national ExporTech™ program.
- General requirements: Here are some of the general requirements for this grant:
- Be a Wisconsin-based company in operation for at least a year
- Manufacture, process, assemble or distribute a product or service with the potential to be exported
- Be new to export or expand your export volume
- Wisconsin cost inputs must make up at least 35% of the value of the product or service being exported
- Agree to a 30% match of the grant funds received
- Complete the ExporTech program to be eligible for the maximum grant award
- How to apply: Contact the WEDC organization for application information.
Wisconsin Center for Technology Commercialization (CTC) Micro-Grants
- Program description: The Wisconsin CTC provides micro-grants to eligible technology and research-based Wisconsin businesses that intend to apply for Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) federal funds.
- Incentive: Be reimbursed up to $4,500 for expenses related to developing a Phase I SBIR/STTR research and development proposal or Phase II SBIR/STTR commercialization plan.
- General requirements: Here are some of the general requirements for these grants:
- Be a research or technology business based in Wisconsin
- Intend to develop a Phase I SBIR/STTR research and development proposal or Phase II SBIR/STTR commercialization plan
- Your SBIR/STTR technical proposal is vetted by a federal program officer who gives the go-ahead
- How to apply: You can access the grant application portal through the Wisconsin CTC website.
Wisconsin Entrepreneurial Training Program (ETP) Grant
- Program description: The ETP grant covers most of the tuition costs of qualified applicants who participate in the ETP course offered at select University of Wisconsin campuses.
- Incentive: Receive a grant covering 75% of the ETP course fee that typically costs $1,000, and receive training that can help you develop or improve your entrepreneurial business plan.
- General requirements: Here are some of the general requirements for this grant:
- Register for an Entrepreneurial Training Program course
- Meet attendance requirements
- Complete a satisfactory business plan within the given timeframe by the hosting UW campus
- How to apply: Contact the Wisconsin Small Business Development Center if you wish to apply.
Wisconsin Fast Forward (WFF) Grants
- Program description: This program can reimburse eligible employers who implement a workforce training program that provides trainees with transferable skills or industry-recognized credentials.
- Incentive: Receive up to $400K in reimbursement for your training program expenses, such as the costs of curriculum development, instructor salaries, training materials, or supplies.
- General requirements: Here are some of the general requirements for this grant if you’re a small business owner:
- Be a Wisconsin-based employer or partnered with a Wisconsin-based employer
- Propose a workforce training program
- Provide trainees with workforce training in Wisconsin
- Train economically disadvantaged individuals or people who are seeking higher wages and new opportunities
- Be financially viable
- Be current on all federal and state tax obligations
- Match 50% of the amount of the grant with cash or in-kind contributions
- How to apply: Access the online grant application system through the Wisconsin Fast Forward site.
Who Provides Small Business Grants in Wisconsin?
State-funded organizations and the Office of Skills Development at the Wisconsin Department of Workforce Development offer a variety of small business grants in the Badger State.You can compare small business grants in Wisconsin with similar programs in other states, such as:
- California small business grants
- Colorado small business grants
- Florida small business grants
- Indiana small business grants
- New York small business grants
- Texas small business grants
Do You Have to Pay Back a Small Business Grant?
A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, small and midsized business owners are not required to pay back an SMB grant absent any violations.
You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.
Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.
Who Is Eligible for Small Business Grants in Wisconsin?
Local business owners or operators of an enterprise with fewer than 500 employees may be eligible for small business grants in Wisconsin.
The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. A small business, including individuals with freelancing business ideas, may be eligible for small business grants.
What Industries Does Wisconsin Support With Grants?
Virtually all industry sectors in the Badger State can be eligible for Wisconsin small business grants, including:
- Agriculture
- Construction
- Customer service
- Financial services
- Health care
- Information technology
- Manufacturing
- Research and development in biotechnology
- Scientific research and development services
- Transportation, logistics, and distribution
Wisconsin Resources for SMB Owners Looking for Funding
Here are some resources for small and medium-sized businesses looking for funding in the Badger State:
Wisconsin Small Business Development Center (SBDC)
The Wisconsin SBDC is a statewide program that can provide Wisconsin’s small business owners with the following services:
- Business training courses
- Confidential business consulting at no cost
- Specialized initiatives and webinars
SBA District Office in Wisconsin
The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA Wisconsin District Office has locations in Milwaukee and Madison, and both of those locations serve all 72 counties in the Badger State.
Alternative Funding Sources for Small Businesses in Wisconsin
Here are some alternative funding sources for small businesses in Wisconsin:
Wisconsin State Small Business Credit Initiative (SSBCI)
Wisconsin’s SSBCI is a federally funded program for small business owners in the Badger State. Federal law — the American Rescue Plan Act of 2021 — allocates nearly $80 million to Wisconsin’s State Small Business Credit Initiative program.Here’s how Wisconsin plans to use its SSBCI funding:
- Wisconsin Forward Venture Fund — $25 million. This program will help eligible startups access venture capital.
- Wisconsin Forward Co-Investment Fund — $25 million. These funds will also help eligible businesses access venture capital.
- WEDC Technology Development Fund — $8.1 million. This funding will expand WEDC’s Technology Development Loan program for eligible new businesses that need financing.
- Wisconsin Housing and Economic Development Authority (WHEDA) Collateral Support Program — $6 million. This program will provide cash collateral to help eligible small business owners access credit.
- WHEDA Subordinate Loan Participation Program — $6 million. This program uses SSBCI funds to expand Wisconsin’s loan participation. A loan participation program typically allows a state to partner with private lenders to support small business lending.
- WEDC Capital Catalyst Fund — $6 million. This program will help Wisconsin provide matching funds to nonprofits that operate small business loan programs.
- WHEDA Capital Access Program — $3 million. This program will promote small business lending activity in Wisconsin. WHEDA can use SSBCI matching funds to support portfolio insurance on small business loans.
Wisconsin Microloan Lenders
Community-based nonprofits may offer microloans of up to $50,000 to small business owners in Wisconsin, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50K and may be available to startups.
Wisconsin SMB Loans from Private Lenders
Banks, credit unions, and private lenders may offer different types of small business loans to Wisconsin business owners.Here are some of the funding products you may consider depending on your needs:
- Commercial real estate loans
- Equipment financing
- Small business loans for startups
- Working capital lines of credit
This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.
Lantern By
SoFiSoFi receives compensation in the event you obtain a loan, financial product, or service through the Lantern marketplace. This Lantern website is owned by SoFi Lending Corp., a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS number 1121636. (nmlsconsumeraccess.org
https://www.nmlsconsumeraccess.org/
). This site is NOT owned and operated by SoFi Bank. Loans, financial products, and services may not be available in all states.
All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. The actual terms you may receive depends on the things like benefits requested, your credit score, usage, history and other factors.
*Check your rate: To check the rates and terms you may qualify for, Lantern and/or its network lenders conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender(s) you choose will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown on this website are from lenders and are estimates based upon the limited information you provided and are for information purposes only. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the lender you select, their underwriting criteria, and your personal financial factors. The loan terms and rates presented are provided by the lenders and not by SoFi Lending Corp. or Lantern. Please review each lender’s Terms and Conditions for additional details.
Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website on credit (consumer.ftc.gov)
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.¹
SoFi’s Insights tool offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score provided to you is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
Personal Loan
SoFi Lending Corp. (“SoFi”) operates this Personal Loan product in cooperation with Engine by MoneyLion. If you submit a loan inquiry, SoFi will deliver your information to Engine by MoneyLion, and Engine by MoneyLion will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Engine by MoneyLion, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.Personal loan offers provided to customers on Lantern do not exceed 35.99% APR. An example of total amount paid on a personal loan of $10,000 for a term of 36 months at a rate of 10% would be equivalent to $11,616.12 over the 36 month life of the loan.
Student Loan RefinanceSoFi Lending Corp. (“SoFi”) operates this Student Loan Refinance product in cooperation with Engine by MoneyLion. If you submit a loan inquiry, SoFi will deliver your information to Engine by MoneyLion, and Engine by MoneyLion will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Engine by MoneyLion, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.
NOTICE: The debt ceiling legislation passed on June 2, 2023, codifies into law that federal student loan borrowers will be reentering repayment. The US Department of Education or your student loan servicer, or lender if you have FFEL loans, will notify you directly when your payments will resume For more information, please go to https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf https://studentaid.gov/announcements-events/covid-19
If you are a federal student loan borrower considering refinancing, you should take into account the new income-driven payment plan, SAVE, which replaces REPAYE, seeks to make monthly payments more affordable, and offers forgiveness of balances that were originally $12,000 or lower after 120 payments, among other improvements. Also, please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans, such as SAVE, or extended repayment plans.
Auto Loan RefinanceAutomobile refinancing loan information presented on this Lantern website is from Caribou, AUTOPAY, Engine by MoneyLion, and each of Engine’s partners (along with their affiliated companies). Caribou, AUTOPAY, and Engine by MoneyLion pay SoFi compensation for marketing their products and services on the Lantern site.
Auto loan refinance information presented on this Lantern site is indicative and subject to you fulfilling the lender’s requirements, including but not limited to: credit standards, loan size, vehicle condition, and odometer reading. Loan rates and terms as presented on this Lantern site are subject to change when you reach the lender and may depend on your creditworthiness, consult with the lender for more details. Additional terms and conditions may apply and all terms may vary by your state of residence.
Secured Lending DisclosureTerms, conditions, state restrictions, and minimum loan amounts apply. Before you apply for a secured loan, we encourage you to carefully consider whether this loan type is the right choice for you. If you can’t make your payments on a secured personal loan, you could end up losing the assets you provided for collateral. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on the ability to meet underwriting requirements (including, but not limited to, a responsible credit history, sufficient income after monthly expenses, and availability of collateral) that will vary by lender.
BankingSoFi Lending Corp. (“SoFi”) operates this website in cooperation with Engine by MoneyLion presenting promotions for products and services offered by other banks, lenders, and financial institutions. If you select a promotion above, you will be connected to the website of the company offering the product. The promotions presented on this site are from companies that pay SoFi and Engine by MoneyLion compensation for marketing their products and services. This may affect whether a provider is featured on this site and could affect the order of presentation. Lantern and Engine by MoneyLion do not include all providers in the market or all of their available offerings. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.
More from MediaFeed:
Small business grants for veterans
After serving in the military, many veterans turn to small business ownership. The appeal of creating something from scratch and doing what they love has attracted millions of vets to become entrepreneurs in the United States. But as you know, running a business typically has a hefty price tag attached to it.
Funding one can include small business loans for veterans as well as small business grants for veterans. There are pros and cons to both types of funding, and small business owners may rely on a combination of the two. We’ll cover information to help you better understand small business grants for veterans, including:
- What small business grants for veterans are
- Where to find small business grants for veterans
- How to get a small business grant for veterans
- General eligibility requirements
- Other funding options for veteran business owners
- Additional training and resources for veterans
Drazen Zigic / istockphoto
When it comes to finding money to help you launch or grow a business, you have a few options. One is a business loan, which needs to be paid back over time. You can also seek investors who, in exchange for giving you capital, will typically then own a piece of equity in your business. Your third option is a small business grant.
Unlike a loan, a grant doesn’t usually have to be paid back. It is essentially debt-free financing that allows you to have the capital you need to start or grow a business. Almost any business can apply for a grant, but there are some grants specifically geared toward veteran-run businesses. Given the amount of competition the average federal grant sees, you may have more of a fighting chance of getting one if the pool is limited to only veteran business owners.
Grants provide capital that can be used for many purposes in a business, from covering startup costs to allowing you to hire employees. You could use the funds to buy equipment or technology that helps you work more productively — it all depends on the grant itself.
Olivier Le Moal / Getty
There are many government small business grants available to veterans. It’s just a matter of knowing where to look in order to find the right one for you and your business. Whether you’re seeking small business startup grants for veterans or business grants for disabled veterans, here are some resources to get a start on your search.
DepositPhotos.com
Grants.gov is a large database of all the federal grants available to anyone, including vets. You can search by agency, category or eligibility. Each grant has different eligibility requirements, and only certain types of organizations may apply. It’s important to read those requirements carefully to make sure you qualify.
Another database to spend some time on is GrantWatch. Here, you can find grants from federal, state and local government agencies, as well as foundations and corporations in each state.
DepositPhotos.com
Most states have web portals with resources for veterans living in that state. For example, California’s CalVet lists resources for veterans and service-disabled vets, which may include self-employment grants for service-disabled veterans. You can also find local Veteran Business Outreach Centers (VBOCs) by zipcode here.
Motortion / istockphoto
There are small business grants for veterans in a variety of situations, from disabled vets to those starting a brand new business. Requirements will vary, but most require you to be a veteran, reserve or transitioning active duty member of any branch of the U.S. military. Some grants are also open to spouses or children of military members.
Zinkevych / istockphoto
To apply for a grant, first review the eligibility requirements to ensure you meet them. Pay attention as well to deadlines so you don’t waste time filling out paperwork for a grant that’s already closed its window for applications.
DepositPhotos.com
Gather the required paperwork, which might include a business plan, financial statements or mission statement. Next, allot plenty of time to write your grant proposal and/or fill out the application. You may be asked how your business started or what you plan to do with the funds. Answer honestly, but don’t be shy about singing your company’s praise. This is your opportunity to display what is unique about your business.
DepositPhotos.com
Finally, carefully review your application and make sure you included everything required. Proofread your proposal, maybe asking a colleague to provide a second set of eyes. You want your application to be as flawless and engaging as possible.
You may also consider hiring a grant writer. This is someone who fills out grant applications for a living. They will likely be more familiar with the process and what reviewers are looking for in an application.
Prostock-Studio/ istockphoto
Grants are often difficult to get, with so much competition for each of them. You may still have other financing options, many of which are also geared specifically for veterans.
istockphoto / yacobchuk
While you may qualify for any business loan, when applying for small business loans, look for those that offer preference to vets. StreetShares, for example, offers both small business loans and lines of credit at low rates for veterans.
The SBA provides a variety of small business loans for veterans, including the Military Reservist Economic Injury Disaster Loan program, which provides capital to eligible small businesses to cover expenses it couldn’t otherwise cover because an essential employee was “called up” to active duty in the military reserve. There is also the Veteran’s Advantage Guaranteed Loans program, which provides up to $150,000 fee-free loans to veteran-owned businesses.
When evaluating loan options, it’s important to look at interest rates and terms. This includes how long you will be paying back the loan and how much you will spend over the length of that loan.
DepositPhotos.com
Angel investments or venture capital can provide another option for financing. Hivers and Strivers is an angel investment group that funds early-stage startup companies founded and run by graduates of the U.S. Military Academies. In addition to investing capital, the organization also provides useful contacts, industry experience and mentorship.
Ridofranz // istockphoto
If you happen to be a female vet, you may have even more resources at your disposal. There are small business loans for women, as well as small business grants for women, that can help you find the capital you need to grow your business.
Some cater specifically to female vets, like StreetShares Foundation’s Female Founders Veteran Small Business Award. This award gives three women $25,000 in total and provides them with the opportunity to pitch their ideas to investors.
To qualify for StreetShares Foundation’s grant, you must be a veteran, reserve or transitioning active duty member of any of the United States Armed Forces, a spouse of a military member or the child or immediate family member of a military member who died on active duty.
You must be 21 and own at least 51% of the veteran-owned business. The grant is given to qualified applicants who lack financial means to start or grow an early-stage business or non-profit.
vadimguzhva / istockphoto
Beyond grants and loans, there are resources that can help you plan, launch, and grow your veteran-owned business.
The Small Business Administration’s Office of Veterans Business Development provides resources and small business programs as well as training, counseling, and mentorship, as well as information on Federal procurement programs for veterans.Who is eligible for these services?
- Veterans
- Service-disabled veterans
- Reserve component members
- Their dependents or survivors
Here are some other funding options to consider.
AndreyPopov/istock
The federal government has the aim to award at least 3% of all federal contracting dollars to service-disabled veteran businesses each year. The Service-Disabled Veteran-Owned Small Businesses program assists service-disabled veterans in securing those government contracts. Their eligibility criteria is as followings:
- Small business
- At least 51% owned and controlled by one or more service-disabled veterans
- Have one or more service-disabled veterans manage day-to-day operations and make long-term decisions
- Service-connected disability
EvgeniyShkolenko / istockphoto
The Warrior Rising program includes the Warrior Academy, designed to help “vetrepreneurs” at every stage of business growth succeed. It also provides vets with mentoring, assistance in finding funding options, and a community of veteran business owners who offer one another support. Warrior Rising’s process includes:
- Intake and tracking: Phone interview to understand your background and determine where you most need help
- Instruction: Warrior Academy: Self-paced video modules with homework and feedback
- Mentoring: One-on-one coaching in specific areas like marketing or accounting
- Funding opportunities: Assistance helping you find the best grants or loans
- Warrior Community: Connects you with other “vetrepreneurs” in your area
Peppersmint / istockphoto
Patriot Boot Camp provides educational small business programs, mentors, and a community of experts and peers to active duty service members, veterans and their spouses looking to start a business. Programs offered include:
- 3-day bootcamps
- Lunch and learn sessions
- Webinars
Johnrob
Veterans Business Resource Center provides counseling and mentoring services for new veteran business owners, as well as training and webinars to continue their education. Services offered include:
- Marketing plan assistance
- Training and events
- Financial analysis
- Business strategy
- Consulting
- Government contracting assistance
DepositPhotos.com
Another entrepreneurship program, V-WISE IGNITE, targets women veterans looking to start a business. The one-day training event provides resources and support to help them on their path.Who is eligible for these services?
- National Guard and Reserve components
- Active duty women service members of any military branch, including National Guard and Reserve components
- Women spouses/same-sex life partners of above (including widowed spouses/partners)
DepositPhotos.com
The U.S. Department of Veterans Affairs has a program, Veteran Readiness and Employment (VR&E) Self-Employment Track, that provides assistance to veterans with service-connected disabilities or employment barriers. The program assists in creating a business plan, analyzing your business concept, and providing you with the resources you need to succeed. Who is eligible for these services?
- Service member or veteran with an employment barrier or handicap
- Service-connected disability makes it hard for you to prepare for, obtain and maintain suitable employment
qingwa / istockphoto
Boots to Business (B2B) is a program created by the SBA and Office of Veterans Business Development, and it provides courses to help vets become successful business owners.Who is eligible for these services?
- Transitioning service members (including National Guard and Reserve)
- Their spouses on military installations worldwide
Depositphotos
The Entrepreneurship Bootcamp for Veterans (EBV) program is offered free of charge to post-9/11 veterans and their families. It targets businesses in early-growth mode, providing entrepreneurship and business management training. Programs available include:
- EBV Accelerate: A bootcamp-style program that provides insight and education on financial, management, marketing, and strategic planning challenges established businesses encounter.
- EBV Program: cutting edge, experiential training in entrepreneurship and business management for companies in early growth mode.
- EBV-Families Program: Provides the same training to family of qualified veterans.
istockphoto/Ridofranz
If you are interested in bidding on government contracts, explore the Vets First Verification Program. Run through the Office of Small & Disadvantaged Business Utilization (OSDBU), this program gives vets priority when bidding on federal and state government contracts, as well as better access to capital and tax relief.Who is eligible for these services?
- Veteran owns 51% or more of the company
- Veteran has full control over the day-to-day management, decision-making, and strategic policy of the business
- Veteran has managerial experience
- Veteran is the highest-paid person in the company
- Veteran works in the business full time
- Veteran holds the highest officer position in the company
DepositPhotos.com
Small business grants for veterans provide a unique opportunity: access to capital free of charge that can help you realize your entrepreneurial dreams. Realize that the grant process may be slow, so it’s important to start your homework early to find the grants that you qualify for. In general, you can apply for and accept multiple grants.
You can also combine multiple financing options to launch or expand your business. This can mean a combination of grants and loans, and possibly investors as well. It’s a good idea to evaluate all funding sources to find what works best for you.
Learn more:
This article originally appeared on LanternCredit.comand was syndicated by MediaFeed.org.
Lantern by SoFi:
This Lantern website is owned by SoFi Lending Corp., a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS number 1121636. (www.nmlsconsumeraccess.org)
All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. The actual terms you may receive depends on the things like benefits requested, your credit score, usage, history and other factors.
*Check your rate: To check the rates and terms you qualify for, Lantern conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender(s) you choose will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown on this website are from lenders and are estimates based upon the limited information you provided and are for information purposes only. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the lender you select, their underwriting criteria, and your personal financial factors.
The loan terms and rates presented are provided by the lenders and not by SoFi Lending Corp. or Lantern. Please review each lender’s Terms and Conditions for additional details.
Personal Loan:
SoFi Lending Corp. (“SoFi”) operates this Personal Loan product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers.
The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page.
Student Loan Refinance:
SoFi Lending Corp. (“SoFi”) operates this Student Loan Refinance product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lender’s receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website.
More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Even’s Licenses and Disclosures, Terms of Service, and Privacy Policy.
Student loan refinance loans offered through Lantern are private loans and do not have the debt forgiveness or repayment options that the federal loan program offers, or that may become available, including Income Based Repayment or Income Contingent Repayment or Pay as you Earn (PAYE).
Notice: Recent legislative changes have suspended all federal student loan payments and waived interest charges on federally held loans until 09/30/21. Please carefully consider these changes before refinancing federally held loans, as in doing so you will no longer qualify for these changes or other future benefits applicable to federally held loans.
Auto Loan Refinance:
Automobile refinancing loan information presented on this Lantern website is from MotoRefi. Auto loan refinance information presented on this Lantern site is indicative and subject to you fulfilling the lender’s requirements, including: you must meet the lender’s credit standards, the loan amount must be at least $10,000, and the vehicle is no more than 10 years old with odometer reading of no more than 125,000 miles. Loan rates and terms as presented on this Lantern site are subject to change when you reach the lender and may depend on your creditworthiness. Additional terms and conditions may apply and all terms may vary by your state of residence.
Secured Lending Disclosure:
Terms, conditions, state restrictions, and minimum loan amounts apply. Before you apply for a secured loan, we encourage you to carefully consider whether this loan type is the right choice for you. If you can’t make your payments on a secured personal loan, you could end up losing the assets you provided for collateral. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on the ability to meet underwriting requirements (including, but not limited to, a responsible credit history, sufficient income after monthly expenses, and availability of collateral) that will vary by lender.
Life Insurance:
Information about insurance is provided on Lantern by SoFi Life Insurance Agency, LLC.
DepositPhotos.com
Featured Image Credit: South_agency/istockphoto.
