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Tax Preparation Resources for Military – Free & Discounted Services 

It seems tax season is here sooner each year   It can be more complicated for military families.   There are some filing preparation services available that are either discounted or free.  It is VAMBOA’s pleasure to bring them to your attention and make this task just a little easier and less stressful.

Assembling Your Documents – If you are prepared and have assembled the important and necessary documents to file, it will be much easier, quicker and less stressful.   Below is a list of what you need;

  • Photo ID/Military ID
  • Social security cards for you and each family member claimed on the return
  • Wage and earning statement(s), such as Forms W-2, W-2G, and 1099-R – you can download from MyPay website here: https://mypay.dfas.mil/mypay.aspx
  • Child care costs
  • Investment income forms
  • Receipts for charitable donations
  • Receipts for deductible expenses
  • Your bank routing numbers and account numbers for direct deposit
  • Last year’s returns

We will begin with Online Tax Preparation Services that include:

  • TurboTax – offers discounts on software for active-duty military.   Servicemembers who are an E5 or below can obtain free federal and state filing with Free Edition or Deluxe.  There is also a $5 off discount available for Premier, Self-Employed and Turbo Tax Live federal products. Those with an E6 and above pay grade are eligible for a $5 discount or more on all TurboTax federal products.
  • TaxSlayer – has a military offer that allows active duty to file military to e-file a federal return for free.  State returns are additional.
  • IRS Free File Software – You can file your federal individual income tax return for free using tax-preparation-and-filing software.   If your income is below $66,000, it is free for federal and state return options. If your income is above $66,000 you can use Free File Fillable Forms.
  • Military OneSource – This is such a great resource in so many areas for those who serve.   They provide free tax preparation and e-filing software as well as easy access to tax consultants and free in-person preparation through approved Volunteer Income Tax Assistance offices.  Their easy to use software, MilTax is designed for the military community too.

Military Installation Tax Centers – Many large military installations worldwide offer servicemembers and their families free income ta filing assistance via VITA, the Volunteer Income Tax Assistance Program which is sponsored by the IRS.  VITA volunteers are trained by the IRS to provide assistance with military specific tax issues that include combat-zone tax benefits and more.  They know their stuff when it comes to military taxes!

H&R BLOCK – The Army & Air Force Exchange Service is joining forces with H&R BlOCK to offer military members and their families a 10% discount in select Exchange locations worldwide.  Please see a list of locations for CONUS and OCONUS at the bottom of this article.

https://bit.ly/2J6faU4

 

Installation

CONUS

State

Zip Code

Office Phone#

PATRICK AFB 1221 S PATRICK DR FL 32925 321-868-0285
MACDILL AFB Bldg 926, 3108 N BOUNDRY BLVD, Tampa FL 33621 813-840-1512
BOLLING AFB Washington DC, 20 MAC DILL BLVD DC 20032 202-729-3920
ANDREWS AFB JOINT BASE ANDREWS, BLDG 1683 MD 20762 301-568-2154
FORT MEADE FORT MEADE AB BLDG 2790 2790 MACARTHUR RD MD 20755 410-672-0271
FT LEE PETERSBURG, 300 A AVE BLDG 1605 MAIN PX VA 23801 804-518-3850
FORT BELVOIR FORT BELVOIR, 8651 JOHN J KINGMAN RD VA 22060 703-337-9001
HANSCOM AFB HANSCOM AFB 1709 EGLIN ST- BASE EXCHANGE MA 01731 781-264-2228
WEST POINT WEST POINT, 1204 STONY LONESOME ACCESS RD NY 10996 845-446-5187
JBDML AAFES MAIN EXCHANGE BLDG 3452 BROIDY RD NJ 08641 609-723-3604
FT HAMILTON BROOKLYN, 123 GENERAL LEE AVE NY 11252 718-748-4282
FORT DRUM MAIN PX BLDG P 10730 A, 10730 ENDURING FREEDOM DR NY 13602 315-681-4810
FORT BRAGG BLDG 42171 REILLY RD NC 28310 910-436-0108
FORT BRAGG BLDG 85050 BUTNER RD N POST PX BLDG NC 28310 910-436-0475
FORT BRAGG SOUTH POST PX, BLDG Z 3252 CANOPY LN NC 28310 910-493-0491
LANGLEY AFB LANGLEY AFB – 61 SPAATZ DRIVE, 61 SPAATZ DR VA 23665 757-865-1024
FORT EUSTIS FORT EUSTIS BLDG 1527 VA 23604 757-243-2245
FORT GORDON FORT GORDON EXCHANGE BLDG 38200 3RD AVE GA 30905 706-793-1956
HUNTER AAF SAVANNAH 171 HALEY AVE BLDG 1286 GA 31409 912-692-1163
FORT JACKSON FORT JACKSON BLDG 4712 LEE RD SC 29207 803-782-7430
CHARLESTON AFB CHARLESTON AIR FORCE BASE, BLDG 1990 SC 29404 843-552-8881
FORT LEONARD WOOD 233 ILLINOIS AVE BLDG 498 MO 65473 573-329-5310
FORT SILL FORT SILL PX (IN THE FOOD COURT) 1718 MACOMB RD OK 73503 580-353-6347
FORT LEWIS FORT LEWIS MINI MALL WA 98433 253-964-2161
MCCHORD AFB MCCHORD AIR FORCE BASE, 6330 111TH ST SW WA 98438 253-581-0835
MCCHORD AFB FORT LEWIS-MCCHORD AFB, 41ST DIVISION DR AND A ST WA 98438 253-964-2488
FORT STEWART CONCESSION SHOP 112 VILSECK RD GA 31314 912-876-2224
FORT STEWART 345 LINDQUIST RD BLDG 71 GA 31315 912-877-3421
FORT BUCHANAN FORT BUCHANAN, BLDG 689 PR 00934 787-994-9384
LUKE AFB GLENDALE 7071 N 138TH AVE BLDG 1540 AZ 85307 623-979-3821
DAVIS MONTHAN AFB GLENDALE 5405 E GRANITE ST AZ 85707 520-514-9066
KIRTLAND AFB KIRTLAND AFB EXCHANGE, 8000 GIBSON BLVD BLD 20170 NM 87117 505-268-1222
FORT BLISS FORT BLISS 1 BLDG 1611 TX 79916 915-566-5639
FORT BLISS FORT BLISS 2 BLDG 13471 TX 79916 915-566-5758
TRAVIS AFB 461 SKYMASTER CIRCLE BLDG 650, PO BOX 1505 CA 94535 707-437-1448
MCCLELLAN ARMY AIR FORCE EXCH SERV AAFES, 5443 DUDLEY BLVD BLDG 911 CA 95652 916-921-1449
EDWARDS EDWARDS AFB 240 W FITZGERALD BLVD CA 93524 661-809-0676
HICKAM AFB HICKAM AFB, BXTRA BLG 1235 HI 96853 808-422-9098
SCHOFIELD BARRACKS SCHOFIELD BARRACKS, BLDG 694-PX HI 96857 808-853-4725
FORT SHAFTER FORT SHAFTER BLDG 537 HI 96858 808-487-6079
FORT CARSON FORT CARSON EXCHANGE 1510 CHILES AVE CO 80913 719-576-2070
COLORADO SPRINGS AAFES-PETERSON AIR FORCE BASE, 1030 E STEWART AVE BLDG 2017 CO 80914 719-596-3366
BUCKLEY AFB BUCKLEY AIR FORCE BASE, 365 TELLURIDE BLVD CO 80011 303-341-4472
HILL AFB 5845 E AVE, BLDG 412 UT 84056 801-776-9655
MALMSTROM AFB 7200 PERIMETER RD, BLD 1340 MT 59402 406-727-3577
FAIRCHILD AFB FAFB BASE EXCHANGE, 101 W SPAATZ RD WA 99011 509-244-7006
EXCHANGE HQ 3911 S WALTON WALKER RD DALLAS TX 75236 214-339-1669
NASJRB FT WORTH FT. WORTH, 1880 MILITARY PKWY TX 76127 817-732-4759
FORT HOOD FORT HOOD, 4250 CLEAR CREEK RD TX 76544 254-526-0139
FORT HOOD FORT HOOD BLDG 136, 761ST AT TANK BATALLION AVE TX 76544 254-532-8651
FORT HOOD FORT HOOD #3 BLDG 52021 TANK DESTROYER BLVD TX 76544 254-616-1634
FORT HOOD 19TH STREET MALL BLDG 9401 BATTALION AVE TX 76544 254-532-1675
RANDOLPH AFB UNIVERSAL CITY, 630 3RD ST W BLDG 1068 TX 78148 210-566-6243
LACKLAND AFB LACKLAND AFB 2180 REESE ST BLDG 1285 TX 78236 210-670-2216
FORT SAM HOUSTON 2406 REYNOLDS RD BLDG 366 TX 78234 210-588-2921
FORT SAM HOUSTON MINI MALL, 3150 HARDEE RD BLDG 1387 TX 78234 210-444-0219
JBER 5800 WESTOVER AVE AK 99506 907-222-2978
FORT IRWIN 308A LANGFORD LAKE RD CA 92310 760-267-8757
NELLIS AFB NELLIS AIR FORCE BASE, 5691 RICKENBACKER RD BLDG 431 NV 89191 702-309-2831
FORT BENNING FORT BENNING EXCHANGE, 9220 MARNE RD GA 31905 706-225-8830
MAXWELL AFB MONTGOMERY, 355 KELLY ST AL 36112 334-523-2866
KEESLER AFB AAFES, 506 LARCHER BLVD BLDG 2306 MS 39534 228-435-1335
BARKSDALE AFB BARKSDALE AFB, 455 CURTIS RD BLDG 4711 LA 71110 318-747-2883
FORT POLK FORT POLK, BLDG 850 – 7742 COLORADO AVE LA 71459 337-537-6355
EGLIN AFB EGLIN AIR FORCE BASE 1757 MEMORIAL TRAIL FL 32542 850-651-2254
TYNDAL AFB 108 OKLAHOMA BLDG 912 FL 32403 850-286-1415
ROBINS AFB BLDG 982 MACON ST, MAIN EXCHANGE LOBBY GA 31098 478-923-9501
WRIGHT PATTERSON AFB 2275 D ST, AREA BLD 16 OH 45433 937-639-3173
WRIGHT PATTERSON AFB 1250 CHESTNUT ST AREA A OH 45433 937-306-2100
OFFUTT A F B OFFUTT AFB EXCHANGE 106 MEYER AVE BLDG 166 NE 68113 402-292-1196
FORT RILEY FORT RILEY MILITARY BASE BLDG 2210 TROOPER DR KS 66442 785-717-2435
FORT LEAVENWORTH 330 KANSAS AVE, BLDG 700 KS 66027 913-364-2584
TINKER AFB TINKER EXCHANGE, 3360 N AVE BLDG 685 OK 73145 405-455-5178
FORT KNOX 127 GOLD VAULT RD KY 40121 502-799-0560
FORT CAMPBELL 2840 BASTOGNE AVE, LOCATED IN LEFT SIDE OF PX KY 42223 270-640-7510
LITTLE ROCK AFB 787 SIXTH ST LITTLE ROCK AR 72099 501-983-0001

OCONUS

Location Office Phone#
EU Baumholder Bldg. 8243 06783-9049003
EU Kleber Kaseme Bldg. 3231 0631-41456444
EU KMCC Bldg. 3336 0631-8020410
EU Stuttgart Panzer Mall Bldg. 2903 07031-6314800
EU Grafenwoehr Tower Barracks Bldg. 700 49173-5736112
EU Grafenwoehr Rose Barracks Bldg. 2203 49173-5736112
EU Vincenza Bldg. 305 Via Aldo Moro 0444-303327
EU Lakenheath Bldg. 1034 Bury St Edmunds 01638-533919
PAC Hickam 1232 Hickam CT 808-422-9098
PAC Schofield 694 McComack Rd 808-853-4725
PAC Ft Schafter 550 Pierce Rd 808-487-6079
PAC OKI Kadena Bldg. 412 036-868-2278
PAC OKI Foster Bldg. 1002 Foster 098-971-9307
PAC OSN Bldg. 965, Unit 2038 Osan Air Base 070-7597-0132
PAC Hump Bldg. P-4600 Room H101 Camp Humphreys 070-7727-6100
PAC Korea-Yongsan Yongsan Main Post S 2209 070-4186-6890

 

2019 VA Disability Rates

The 2019 VA Disability rates saw a 2.8% increase based on the Cost-of-Living Adjustment (COLA) increase that was announced by the Social Security Administration. To calculate the VA disability rate increase the average of the indices of July, August, and September 2018 was compared with the 2017 3rd quarter average. 2019 disability rates will be effective 12/1/2018.

See the 2019 VA Disability Rates below!

VA disability rate increases are determined by Cost-of-Living-Adjustments (COLA). See our COLA increase watch for more information.

As tax reminder, do not include VA disability benefits as gross income on income tax statements.

VA disability rate tables for veterans with a disability rating of 10 percent or higher.  Eligible veterans with disabilities can receive up to $3,625.99 per month as a tax free monetary benefit. Veterans with disabilities can use the following VA disability charts to determine how much financial assistance they are eligible for.

 

2019 VA Disability Rates – Effective 12/1/2018

Basic Rates – 10% – 100% Combined Degree Only.

10% – 20% (No Dependents)
Percentage Rate
10% $140.05
20% $276.84

 

30% – 60% Without Children
Dependent Status 30% 40% 50% 60%
Veteran Alone $428.83 $617.73 $879.36 $1,113.86
Veteran with Spouse Only $479.83 $685.73 $964.36 $1,215.86
Veteran with Spouse & One Parent $520.83 $739.73 $1,032.36 $1,297.86
Veteran with Spouse and Two Parents $561.83 $793.73 $1,100.36 $1,379.86
Veteran with One Parent $469.83 $671.73 $947.36 $1,195.86
Veteran with Two Parents $510.83 $725.73 $1,015.36 $1,277.86
Additional for A/A spouse (see footnote b) $47.00 $62.00* $78.00 $94.00

 

70% – 100% Without Children
Dependent Status 70% 80% 90% 100%
Veteran Alone $1,403.71 $1,631.69 $1,833.62 $3,057.13
Veteran with Spouse Only $1,522.71 $1,767.69 $1,986.62 $3,227.58
Veteran with Spouse and One Parent $1,617.71 $1,876.69 $2,109.62 $3,364.37
Veteran with Spouse and Two Parents $1,712.71 $1,985.69 $2,232.62 $3,501.16
Veteran with One Parent $1,498.71 $1,740.69 $1,956.62 $3,193.92
Veteran with Two Parents $1,593.71 $1,849.69 $2,079.62 $3,330.71
Additional for A/A spouse (see footnote b) $109.00 $125.00 $141.00 $156.32

 

30% – 60% With Children
Dependent Status 30% 40% 50% 60%
Veteran with Spouse and Child $516.83 $735.73 $1,026.36 $1,290.86
Veteran with Child Only $462.83 $662.73 $935.36 $1,181.86
Veteran with Spouse, One Parent and Child $557.83 $789.73 $1,094.36 $1,372.86
Veteran with Spouse, Two Parents and Child $598.83 $843.73 $1,162.36 $1,454.86
Veteran with One Parent and Child $503.83 $716.73 $1,003.36 $1,263.86
Veteran with Two Parents and Child $544.83 $770.73 $1,071.36 $1,345.86
Add for Each Additional Child Under Age 18 $25.00 $33.00 $42.00 $50.00
Each Additional Schoolchild Over Age 18 (see footnote a) $82.00 $109.00 $136.00 $164.00
Additional for A/A spouse (see footnote b) $47.00 $62.00 $78.00 $94.00

 

70% – 100% With Children
Dependent Status 70% 80% 90% 100%
Veteran with Spouse and Child $1,609.71 $1,867.69 $2,098.62 $3,352.41
Veteran with Child Only $1,482.71 $1,722.69 $1,935.62 $3,171.12
Veteran with Spouse, One Parent and Child $1,704.71 $1,976.69 $2,221.62 $3,489.20
Veteran with Spouse, Two Parents and Child $1799.71 $2,085.69 $2,344.62 $3,625.99
Veteran with One Parent and Child $1,577.71 $1,831.69 $2,058.62 $3,307.91
Veteran with Two Parents and Child $1,672.71 $1,940.69 $2,181.62 $3,444.70
Add for Each Additional Child Under Age 18 $59.00 $67.00 $76.00 $84.69
Each Additional Schoolchild Over Age 18 (see footnote a) $191.00 $218.00 $246.00 $273.58
Additional for A/A spouse (see footnote b) $109.00 $125.00 $141.00 $156.32

 

2018 VA Disability Rates – Effective 12/1/2017

Basic Rates – 10% – 100% Combined Degree Only.

10% – 20% (No Dependents)
Percentage Rate
10% $136.24
20% $269.30

 

30% – 60% Without Children
Dependent Status 30% 40% 50% 60%
Veteran Alone $417.15 $600.90 $855.41 $1,083.52
Veteran with Spouse Only $466.15 $666.90 $937.41 $1,182.52
Veteran with Spouse & One Parent $505.15 $719.90 $1,003.41 $1,261.52
Veteran with Spouse and Two Parents $544.15 $772.90 $1,069.41 $1,340.52
Veteran with One Parent $456.15 $653.90 $921.41 $1,162.52
Veteran with Two Parents $495.15 $706.90 $987.41 $1,241.52
Additional for A/A spouse (see footnote b) $46.00 $61.00* $76.00 $91.00

 

70% – 100% Without Children
Dependent Status 70% 80% 90% 100%
Veteran Alone $1,365.48 $1,587.25 $1,783.68 $2,973.86
Veteran with Spouse Only $1,481.48 $1,719.25 $1,932.68 $3,139.67
Veteran with Spouse and One Parent $1,574.48 $1,825.25 $2,051.68 $3,272.73
Veteran with Spouse and Two Parents $1,667.48 $1,931.25 $2,170.68 $3,405.79
Veteran with One Parent $1,458.48 $1,693.25 $1,902.68 $3,106.92
Veteran with Two Parents $1,551.48 $1,799.25 $2,021.68 $3,239.98
Additional for A/A spouse (see footnote b) $106.00 $122.00 $137.00 $152.06

 

30% – 60% With Children
Dependent Status 30% 40% 50% 60%
Veteran with Spouse and Child $503.15 $714.19 $998.41 $1,255.52
Veteran with Child Only $450.15 $644.90 $910.41 $1,149.52
Veteran with Spouse, One Parent and Child $542.15 $767.90 $1,064.41 $1,334.52
Veteran with Spouse, Two Parents and Child $581.15 $820.90 $1,130.41 $1,413.52
Veteran with One Parent and Child $489.15 $697.90 $976.41 $1,228.52
Veteran with Two Parents and Child $528.15 $750.90 $1,042.41 $1,307.52
Add for Each Additional Child Under Age 18 $24.00 $32.00 $41.00 $49.00
Each Additional Schoolchild Over Age 18 (see footnote a) $79.00 $106.00 $133.00 $159.00
Additional for A/A spouse (see footnote b) $46.00 $61.00 $76.00 $91.00

 

70% – 100% With Children
Dependent Status 70% 80% 90% 100%
Veteran with Spouse and Child $1,566.48 $1,816.25 $2,041.68 $3,261.10
Veteran with Child Only $1442.48 $1,675.25 $1,882.68 $3,084.75
Veteran with Spouse, One Parent and Child $1,659.48 $1,922.25 $2,160.68 $3,394.16
Veteran with Spouse, Two Parents and Child $1,752.48 $2,028.25 $2,279.68 $3,527.22
Veteran with One Parent and Child $1,535.48 $1,781.25 $2,001.68 $3,217.81
Veteran with Two Parents and Child $1,628.48 $1,887.25 $2,120.68 $3,350.87
Add for Each Additional Child Under Age 18 $57.00 $65.00 $74.00 $82.38
Each Additional Schoolchild Over Age 18 (see footnote a) $186.00 $212.00 $239.00 $266.13
Additional for A/A spouse (see footnote b) $106.00 $122.00 $137.00 $152.06

 

 

FOOTNOTES:

  1. Rates for each school-aged child are shown separately. They are not included with any other compensation rates. All other entries on this chart reflecting a rate for children show the rate payable for children under 18 or helpless. To find the amount payable to a 70% disabled Veteran with a spouse and four children, one of whom is over 18 and attending school, take the 70% rate for a veteran with a spouse and 3 children, $1,680.48, and add the rate for one school child, $186.00. The total amount payable is $1,866.48.
  2. Where the veteran has a spouse who is determined to require A/A, add the figure shown as “additional for A/A spouse” to the amount shown for the proper dependency code. For example, veteran has A/A spouse and 2 minor children and is 70% disabled. Add $106.00, additional for A/A spouse, to the rate for a 70% veteran with dependency code 12, $1,623.48. The total amount payable is $1,729.48.

By Debbie Gregory.

Making and sticking to a realistic budget is an effective way to help keep your business profitable. Budgets involve making revenue forecasts and estimating your costs, which will determine whether you make a profit or loss.

In this day and age, where there seems to be an app for most things, here are some apps to help you navigate your business finances:

Albert is your financial genius – a smart and powerful financial assistant. Albert connects to all of your accounts and helps you put your financial plan on auto-pilot. The app provides a team of human financial geniuses to guide you through your financial journey and answer your most complex questions.

Clarity displays your financial picture, helps you cancel wasteful accounts, and delivers insights to you. The built-in service scans your accounts for subscription fees and verifies your usage of the service or product. It also has tools to remind you to pay bills, budget, and save.

Fudget is a simple and fast alternative to feature-rich, complex budget planner / personal finance apps. There are no categories to manage, no charts to interpret and no learning curve.

If you share expenses with another person, Honeyfi allows you to choose what to share with your partner and see all of your balances and transactions in one place. You save time when you simplify your finances.

Mint keeps all of your bills and money together in one place, making it easier than ever to track.The more accounts, cards and bills you link, the more the app will help you stay on budget. See what you have and what you owe. Understand where money goes and where you can cut back. Create budgets, track investments, discover new ways to save and more.

Wally lets you take control of your money. Balance your income and expenses. Understand where your money goes. Set and achieve your financial goals. Seamlessly and intuitively. The app gives you a 360 view on your money; what comes in, what goes out, what you have saved, what you have budgeted.

You Need a Budget helps you to be mindful of how you are spending your money, asking you to think about what you want your money to do before you spend it.


According to the most recent census data, there are 2.45 million veteran-owned businesses in the U.S. Veteran entrepreneurs contribute to the economy through their businesses and their willingness to hire veterans.
There are a number of funding resources available to veterans in order to get their business off the ground, or expand an existing business.
• The Office of Veterans Business Development, through the Small Business Administration (SBA) supports new and existing veteran entrepreneurs and military spouses. The program offers a variety of training and financial services. The SBA Veterans Advantage Guaranteed Loans program offers loans of $150,000 or less with no guaranty fee. Larger loans carry a low guarantee fee. SBA Express Loans have no upfront borrower fee for eligible veterans and military spouses on loans up to $35,000. Leveraging Information and Networks to Access Capital matches businesses with SBA-approved non-profit lenders. The 7(a) Loan Program is the SBA’s most common loan program, and includes financial help for businesses with special requirements.
• The Department of Veteran Affairs is a great starting point when looking for financing, and has created the Veteran Entrepreneur Portal (VEP), which can help you quickly identify financing resources for your business.
• The Military Reservist Economic Injury Disaster Loan provide funds to eligible small businesses to meet necessary operating expenses that it could have met, but is unable to meet, because an owner/essential employee was “called-up” to active duty.
• The USDA Veteran and Minority Farmer Grant, run by the Department of Agriculture, aims to bring traditionally underserved people into farming through training and technical and financial assistance.
• The VetFran(R) program is designed to help veterans start their own business. While these aren’t traditional business loans for veterans, the program offers financial incentive for veterans to launch a franchise.
In addition to lending resources, don’t discount the value of networking resources. Who better to share advice than those who have walked the path before you?
• American Corporate Partners links veteran entrepreneurs with successful businesspeople for training and mentorship.
• National Veteran-Owned Business Association presents you with a great networking opportunity and the chance to learn much more about running a business.
• SCORE Foundation Veteran Fast Launch Initiative offers advertising, marketing and business mentoring, all at no cost.

• Syracuse University’s Institute for Veterans and Military Families provides entrepreneurial training. Their Entrepreneurial Bootcamp for Veterans program is free for post-9/11 veterans.
• Veterans Business Resource Center provides business consulting and mentoring.
• Veterans Business Services can assist in obtaining capital for your business.

portal

By Debbie Gregory.

Many U.S. military veterans leave their service branch with skills and attributes necessary to succeed as veteran business owners.

Often times, the main roadblock for these entrepreneurs is financing their new mission: to become a veteran business owner or a service disabled veteran business owner.

If you’re looking to start or expand your business, there are a number of financing options available.

Start with the Department of Veterans Affairs’ Veteran Entrepreneur Portal.  The website features all things related to veteran entrepreneurship, including a customized wizard that will identify financing resources to support the start-up, development, or growth of veteran owned small businesses.

The U.S. Small Business Administration created the Military Reservist Economic Injury Disaster Loan to offer very low-interest loans to help reservists rebuild their businesses after serving their country. Reservists who are also business owners have to balance those two responsibilities in addition to their families. This loan is limited to businesses that the SBA determines would be unable to recover without government assistance.

Another SBA program designed to serve a particular subsection military veterans is the Service Disabled Veteran Owned Small Business Program. Veterans with a service-connected disability who are principal owners of a small business may be connected with sole-source government contracts of up to $5 million.

StreetShares offers a loan platform where investors compete in an online auction format to fund different portions of an applicant’s business loans. The investor that offers the lowest interest rate “wins” the agreement.   StreetShares’ non-profit foundation has partnered with JP Morgan Chase to commit $10,000 per month in awards to eligible reserve or active-duty service members and military veteran small business owners. Three winners are chosen monthly to split a $10,000 prize based on the merits of their business plan and the potential impact of the business on the military and veterans communities.

Non-profit Accion Veteran-Owned Business Loans provides loans up to $1 million, depending on the business’ need. Accion is often able to fund loans for veteran business owners who may not be eligible for commercial loans.

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