SBA Administrator Announces $1 Million for Grant Awardees to Expand Resources for Veteran Entrepreneurs

WASHINGTON - Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA)and the voice in President Biden's Cabinet for America's more than 34 million small businesses, announced more than $1 million in grant awards to three organizations in Ohio, Pennsylvania, and Puerto Rico. The grants will provide funding to establish new Veterans Business Outreach Centers (VBOCs), which will enhance training and counseling services for both new and existing veteran and military spouse small business owners. The three new centers will begin their project periods on Sept. 1.

"The expansion of SBA's network of Veterans Business Outreach Centers has been a top priority of the Biden-Harris Administration as we work to ensure our military-connected entrepreneurs have better access to SBA's resources to pursue their entrepreneurial dreams following their service to our nation," said Administrator Guzman. "With these new grants, veterans, service members and military families in Ohio, Pennsylvania, and Puerto Rico will have local, trusted institutions ready to help them start and grow their businesses - strengthening their communities and our economy."

"Thanks to this additional funding, we can increase our Veterans Business Outreach Centers and significantly support thousands of transitioning service members, National Guard and Reserve members, and their spouses in starting and growing their businesses," said Robert Yannuzzi, Assistant Administrator for the SBA's Office of Veterans Business Development. "VBOCs supported more than 53,000 clients in fiscal year 2023, and this expansion will help grow that number year over year."

Today's announcement expands the VBOC program from 28 to 31 locations, fully servicing all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa. Organizations receiving VBOC grants from the SBA have shown dedication to helping veterans work toward solutions to challenges they face and are positioned to support their coverage areas through the Department of Defense's Transition Assistance Program. Grants will support a range of services, including:

• Business planning: Providing veterans with training and counseling on accounting, financial planning, and management.
• Assistance accessing capital: Providing veterans with help understanding the capital available to them, as well as accessing financing, loans, and grants.
• Government contracting guidance: Providing training on veteran business certification and best practices for doing business with the government.
• Marketing and outreach: Providing marketing and outreach services to promote veteran-owned businesses in their communities and beyond.
• Transitioning: Providing Boots to Business instruction to help active-duty service members transition out of the military.

Grant awardees are as follows:

Economic and Community Development Institute, Inc. (ECDI) - Columbus, OH

Coverage Area: Ohio

Pennsylvania State University - University Park, PA

Coverage Area: Pennsylvania

Corporación para el Financiamiento Empresarial del Comercio y de las Comunidades (COFECC) - San Juan, PR

Coverage Area: Puerto Rico and the U.S. Virgin Islands

For more information or to find a VBOC near you, visit www.sba.gov/vboc. To learn more about SBA's programs for veterans, visit www.sba.gov/veterans.

The SBA will celebrate National Veterans Small Business Week on Nov. 11-15 with events around the country. More information is forthcoming.

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About SBA's Office of Veterans Business Development

The SBA Office of Veterans Business Development (OVBD) works through SBA's extensive resource partner network, which includes Small Business Development Centers, the SCORE mentoring program, Women's Business Centers, and 28 VBOCs located throughout the nation. VBOCs are the leading partner in hosting the "Boots to Business (B2B)," "Boots to Business Reboot," and "Military Spouse Pathway to Business" programs, which are entrepreneurship courses offered on military installations and in local communities. Since B2B's inception in 2013, these programs have collectively trained and graduated more than 211,000 service members, veterans, National Guard and Reserve members, and military spouses. For more information on the resources available for veteran entrepreneurs, visit www.sba.gov/veterans.

About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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