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Connect with thousands of Veteran and Service Disabled Veteran Business Owners – Place your Requests for Proposal (RFPs) in front of this audience.  VAMBOA has over 4, 500 registered members.   This service is reserved for our Corporate Sponsors.  Please contact us today, if you are interested in sponsorship at jjames@vamboa.org

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Join now and be featured in the VAMBOA Veteran and Military Business Owner Directory.  Membership is free.

Government contracting for veteran owned businesses can be a valuable resource for veterans looking to start their own businesses. It is important to understand the positive aspects of government contracts when reviewing options for a veteran business or a service disabled veteran owned business because it may save money and time. It is especially important to review veteran business qualifications as you consider government contracts to ensure you meet all necessary guidelines for veteran-owned business status. Government contracting can not only benefit veteran diversity in the work place, but it can help make your veteran business much more successful in the long run.

For starters, you can generally count on government contracts for veteran owned businesses to be available because unlike normal businesses affected by the economy, the government is never out of business. Therefore, government contracting can be a reliable source of income for a veteran owned business looking to stay afloat in tough times. Don’t be disheartened by talk of government downsizing and strict budgeting. There is plenty of money to be spent and veterans looking to increase veteran diversity by investing in a veteran owned business or service disabled veteran owned business have a good chance at getting to that money first.

There are disbelievers out there that say government contracting is a long shot for small or disadvantaged businesses but that is not true. Due to decreased and simplified paperwork and a government program called the Very Small Business Program, a veteran owned business, service disabled veteran owned businesses and other veteran businesses have access to government contracts and, more specifically, government contracts for veteran owned businesses. Pending adherence to veteran business qualifications, veterans have the ability to do business with government contracts that can help build veteran diversity as well as increase revenues and create strong foundations for a struggling veteran business and new veteran owned businesses.

In order to be considered for government contracts for veteran owned businesses, veterans must first meet veteran business qualifications and then complete all the necessary paperwork to apply for government contracting. By meeting the veteran business qualifications, veterans are confirming that at least 51% of their business is owned by a veteran(s), including at least 51% of the stock holdings, and the daily management is performed by one or more veterans. Service disabled veteran owned business status includes the previous stipulations, including the veteran(s) to have been disabled due to his or her service. These qualifications are in place to protect veteran diversity in the workplace.

Upon meeting these qualifications and filing the proper request forms, a veteran business can then pursue government contracts for veteran owned businesses.

Opening a veteran owned business is a rewarding experience for both veterans and their non-veteran employees. Even increasing veteran diversity in a workplace can reflect positively on both performance and company morale in a service disabled veteran owned business or a veteran business. Service disabled veterans increase diversity in the workplace. There are many incentives for veterans to start a business, but there are also many qualifications that need to be met in order to start and maintain a veteran owned business. Beginning a veteran owned business requires adherence to certain standards set by the Veteran Administration and the U.S. Government, as listed below.

For instance, veteran owners or service disabled veterans looking to own a business with veteran employees must be “veterans” as defined by the law, including having served and been discharged from a sector of the military under conditions other than dishonorable. For National Guard and Reserve members looking to increase diversity and veteran diversity in the workplace, being called to Federal active duty, incurring an injury from duty or becoming disabled from a disease serve as qualifications for veteran status. These qualifications also enable veterans to open a service disabled veteran owned business.

Service disabled veterans are also catching the veteran owned business bug. The government defines service disabled veterans as a veteran who received a disability determination from the Department of Defense or obtained a disability rating letter from the Department of Veterans Affairs, indicating a service-connected rating between 0% and 100%. The VA puts these qualifications into effect in order to better track veteran diversity and veteran employees in service disabled veteran owned business organizations and the diversity of business as an entity.

A veteran owned business is generally defined by a rate of not less than 51% of ownership belonging to one or more veterans as well as the same percent for stock holdings. Also, the management of the business and daily operations must be controlled by one or more veteran employees. The same ownership and management qualifications apply to service disabled veteran owned businesses. The best chance of increasing veteran diversity and diversity in general within in the workplace is by establishing veteran owned businesses through specific qualifications.

The Patriot Express Loan was created by the Small Business Administration to help veterans, military members and their spouses acquire the loans necessary to begin or expand a small business. Patriot Express Loans are available to service disabled veterans and military members who meet specific eligibility requirements. Some of the requirements for a loan from the Small Business Administration include being an active-duty service member who is eligible for the military’s Transition Assistance Program, current veterans or service disabled veterans, spouses of military members, veterans or service disabled veterans or the widow of a service member who died during service or from a service-connected disability. Any of those qualify for eligibility for a Patriot Express Loan for the expansion or beginning of a small business.

Patriot Express Loans are under a Loan Guarantee policy from the Small Business Administration. This means that the Small Business Administration, rather than actually lending money, guarantees repayment of loans. By doing this, it allows a small business to receive much needed loans they might not otherwise be able to obtain via normal lenders. This kind of loan is the primary kind the Small Business Administration offers small business owners. Patriot Express Loans can be used for things such as purchasing equipment and machinery, real estate or facilities, funding for working capital, fixtures and furniture, refinancing loans and debt (under extremely particular occasions) and for many other necessities veterans, service disabled veterans and military members need to keep their small businesses thriving.

In order to obtain a Patriot Express Loan, you’ll have to confirm that you meet all necessary eligibility requirements. Once you have stated your eligibility, you will be able to be considered for a Patriot Express Loan.  Patriot Express Loans are available in varying amounts up to $500,000. Depending on the amount of the loan, the Small Business Administration’s maximum loan guarantee can be as high as 75 percent. Some loans have maximum guarantees as high as 85 percent.

The Patriot Express Loan program is set to expire December 31, 2010, so military members, service disabled veterans and other veterans have until then to obtain a loan through the Small Business Administration.