Service Disabled Veteran Owned Small Business Grants – United States government is focused on providing the best service for the service-disabled veteran. As you know, getting a job or starting a new business can be a bit hard for these people. Therefore, the United States government through the Small Business Administration provides some aid to help these people to start and grow their own small business.
The Service Disabled Veteran Owned Small Business Grant program is a grant program which was creates consistently to the Public Law 109-461. The Veterans Administration and the Small Business Administration work together managing the grants. This post will be focusing on that, providing information about the grant process, requirements, etc.
Service-disabled veteran-owned small businesses are the top priorities of the Small Business Programs provided by the VA and SBA. People in this category are highly encouraged to participate in the grant award process.
Service Disabled Veteran Owned Small Business Grants – History and Eligibility
The grant was started by the establishment of Veterans Entrepreneurship and Small Business Development Act on 1999. On 2003, the Congress approved the Veterans Benefits Act. One of the sections of the Act focuses on the service disabled veterans who own small businesses. After a few years, the service-disabled veteran-owned small business grant started as well.
This is important information about the criteria used for the eligibility for the SDVOSBC. In order to receive the grant, you (and your business) have meet the following criteria:
- You have a disability that is related to your service, confirmed by the Department of Veterans Affairs or Department of Defense
- The business should be categorized as a small business, determined based on the North American Industry Classification System (NAICS)
- At least 51% of the business is owned by the service-disabled veteran
- The service-disabled veteran should sit on the highest position in the business, and control the management and daily operation of the business.
- The service disabled veteran should have the authority to control both long-term decision and day to day management.
There are some exceptions applied in some cases. To see what they are, we recommend you to contact your Contracting Officer (CO) to see if they can set aside the requirements and award you with the grant.
It is also important to note that the SBA doesn’t only provide financial aid such as a grant or low-interest loan. They also have a very good resource of information that can help you start, managing and developing your business. We highly recommend you to visit their official site and take a look into their guide for starting up a business.
Beside the Service Disabled Veteran Owned Small Business Grants, there are other ways for disabled veterans to get fresh money for their business. In general, on service disabled veterans are considered as the top priority on getting the financial aid. Aside of the Federal government help, you are also encouraged to seek help from your State government. Almost every state has some kind of program that can help these people and their small business.
Therefore, don’t just submit your application to Service Disabled Veterans Owned Small Business Grants only, because there are still lots of other possibilities available.