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Veterans are widely recognized as valuable contributors to the success of many franchise systems. With their proven track record of self-discipline and teamwork, along with their ability to understand and execute an operational plan, former service members often find success in franchise ownership. For many, though, gathering the resources to get the business off the ground can be one of the hardest steps.Fortunately, there are multiple financing options available, and the community is supported by a network of passionate advocates.<h3>SBA Loans Provide Flexible Options</h3>The Small Business Administration (SBA) offers multiple loan programs that cater specifically to veteran business owners."The U.S. Small Business Administration offers a wealth of resources and flexible financing options, typically requiring a smaller equity contribution than conventional loans,” said&nbsp;<a href="https://www.linkedin.com/in/mark-gibson-ba15811b/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=business-financing-options-for-veterans-2726171" target="_blank" rel="nofollow">Mark Gibson</a>, national sales manager at&nbsp;<a href="https://www.firstib.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=business-financing-options-for-veterans-2726171" target="_blank" rel="nofollow">First Internet Bank</a>. “It also provides avenues for veterans to seek outside investors and organizations that can assist in securing capital and lending opportunities. Reputable lenders are able to guide veterans through the process, discussing and explaining the various options available."The&nbsp;<a href="https://www.sba7a.loans/sba-7a-loans-small-business-blog/sba-veterans-advantage-program/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=business-financing-options-for-veterans-2726171" target="_blank" rel="nofollow">Veterans Advantage Program</a> offers larger loans with more competitive rates and fees. To qualify for this program, a business must be at least 51% owned by qualified veterans or military family members. The&nbsp;<a href="https://www.sba.gov/partners/lenders/7a-loan-program/types-7a-loans?utm_source=1851franchise.com&utm_medium=article&utm_campaign=business-financing-options-for-veterans-2726171#id-sba-express" target="_blank" rel="nofollow">SBA Express</a> option tends to have quicker approval times, making it a great fit for veterans who need funding on a tighter timeline.By seeking financing through the SBA, veterans also gain access to&nbsp;<a href="https://www.sba.gov/business-guide/grow-your-business/veteran-owned-businesses?utm_source=1851franchise.com&utm_medium=article&utm_campaign=business-financing-options-for-veterans-2726171#id-training-programs" target="_blank" rel="nofollow">training programs</a> like Boots to Business, Warrior Rising and Entrepreneurship Bootcamp for Veterans.<h3>Private Lending Offers Additional Support</h3>The terms associated with private loans can vary widely depending on the lender, business type and veterans’ qualifications. However, for veterans who need additional financial support, traditional bank loans and loans from local or veteran-centric credit unions can be a great option.&nbsp;Because private lenders may be operating from a different set of standards than the SBA, it is important to do thorough research and weigh the pros and cons of each option before finalizing a loan.&nbsp;<h3>Franchisor Support May Close the Gap for Franchisees</h3>Like private lenders, the support offered by franchisors will vary between brands and circumstances, but many franchisors offer some type of supplemental support.&nbsp;This most frequently comes in the form of a discounted franchise fee, which reduces the initial financial burden for veterans as they work to launch the business. Many franchisors also have preferred lending partners that know the franchise well and can provide more specific financing guidance as it relates to the specific business a veteran is starting.Access to tailored financing options is crucial in empowering veterans to pursue their entrepreneurial dreams and build up flourishing veteran-owned businesses. Though there is no one-stop shop for veteran-specific financing, the variety of approaches and range of expertise available within the industry supports veterans in creating a multi-pronged strategy that will serve their unique needs.Read more about veterans in franchising and veterans’ firsthand success stories on 1851:<ul><li><a href="https://1851franchise.com/low-cost-franchises-offer-veterans-a-pathway-to-entrepreneurial-success-2725549">Low-Cost Franchises Give Veterans a Path to Business Ownership</a></li><li><a href="https://1851franchise.com/veterans-and-franchising-make-the-perfect-combination-2724723">Veterans and Franchising Make the Perfect Combination</a></li><li><a href="https://1851franchise.com/10-reasons-why-veterans-should-consider-franchising-2722624">10 Reasons Why Veterans Should Consider Franchising</a></li><li><a href="https://1851franchise.com/from-serving-our-country-in-the-marine-corps-to-serving-the-community-as-a-griswold-franchisee-2725397">From Marine Corps Service to Griswold Franchise Owner</a></li><li><a href="https://1851franchise.com/navy-veteran-continues-to-serve-now-as-a-seniors-helping-seniors-franchisee-2725413">Seniors Helping Seniors Franchisee Has a Passion for Service</a></li></ul>

Small Business Financing for Veterans: Key Insights

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Franchising offers a pathway for many veterans as they transition into civilian life. These are some of the most important resources to know about as you begin the journey.

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