At the U.S. Small Business Administration (SBA), we believe supporting veteran entrepreneurs isn’t just the right thing to do for our vets, but it’s also the right thing to do for our nation. With more than 21 million veterans in America and more than 250,000 service members transitioning from the military annually, the SBA is […]
At the U.S. Small Business Administration (SBA), we believe supporting veteran entrepreneurs isn’t just the right thing to do for our vets, but it’s also the right thing to do for our nation. With more than 21 million veterans in America and more than 250,000 service members transitioning from the military annually, the SBA is focused on ensuring that they have access to the capital, counseling, and contracting needed to start and grow successful businesses.
The military trains soldiers with the skills, discipline, and leadership necessary to kick-start and operate a successful business. After serving in the military, many veterans return to their hometown and choose to run a business. As small-business owners, veteran entrepreneurs are able to pursue their passion to serve our country by creating jobs and spurring economic growth.
Veteran business owners:
- Are responsible for nearly one of every 10 small businesses in America
- Employ nearly 6 million workers
- Generate more than $1.5 trillion in receipts each year
- Are 45 percent more likely to be self-employed than non-veterans
I want to commend the many veteran entrepreneurs who have taken the risk to start the next chapter of their lives, including three here in Central New York that we have been privileged to assist.
U.S. Marine Corps veteran Herbert Dwyer recently graduated from our intensive Emerging Leaders program with a strategic growth action plan for his company, ASI Energy.
U.S. Air Force veteran Jerry Garritillo used the Entrepreneurship Bootcamp for Veterans (EBV) program, run by Syracuse University’s Institute for Veterans and Military Families (IVMF) and funded in part by the SBA, to take his insurance company to the next level.
U.S. Air Force veteran Bharpur (Bo) Singh, president and CEO of T. Gschwender & Associates, Inc., and SBA’s 2014 Veteran-Owned Business Achievement Award winner, used our 7(a) loan program as his company’s revenue and staff expanded rapidly since buying the business in 2008.
Speaking of our loan programs, I am proud to say that the SBA is continuing the Veterans Advantage program through fiscal year 2015, eliminating guaranty loan fees for SBA Express loans, up to $350,000, and reducing fees by 50 percent for SBA 7(a) loans, up to $5 million for veteran entrepreneurs.
If you are a veteran and ready to begin your next chapter as an entrepreneur, contact our office at (315) 471-9393 or visit www.sba.gov/ny/syracuse. With counseling, contracting, and access to credit programs, the SBA is ready to help you join the ranks of veteran small-business owners making a difference in our Central New York community.
We thank and honor all those who selflessly served our nation.
Bernard J. Paprocki is district director for the SBA’s Syracuse District Office, which covers a 34-county region of upstate New York.