On July 20, 2022, the U.S. Small Business Administration (SBA) announced it would fund a new entrepreneurship training program for veterans at several nonprofit organizations, local and state governments, private sector companies, and institutions of higher education. With these funds, respective agencies and organizations can expand training opportunities to veterans, service-disabled veterans and reservists looking to start their businesses or expand an existing small business. Eligible companies and institutions are encouraged to apply.
The SBA designed the Service-Disabled Veteran Entrepreneurship Training Program (SDVTEP) to train any former servicemen or women who have been affected by armed combat but still dream of running their businesses. The current administration has prioritized promoting increased entrepreneurship among American citizens. The goal is to make sure veterans don’t get left behind.
A total of $300,000 in funding for training will be provided to any business or organization deemed eligible and has completed 12 full months of training veterans. Awards will be given to companies that meet the expectations and values of the SDVTEP, which includes more financial support for small businesses.
“Through this funding opportunity, awarded organizations will help us extend our reach to the service-disabled veteran small business community to help them succeed at every stage of their entrepreneurial journey,” said Larry Stubblefield, associate administrator for SBA’s Office of Veterans Business Development. Much of Stubblefield’s work has been implementing and advocating policy for veterans, active service members, and military spouses regarding small business counseling and education.
If you believe your small business is eligible for the SBA’s funding, you are encouraged to apply.
For specific information, head to www.grants.gov, search “SB-OVSD-22-001” in the Opportunity Number search bar, and read the synopsis of the grant application. Organizations must submit applications by 11:59 p.m. ET on Aug. 18, 2022.
Use the link in the last paragraph to join the video conference. Direct any other inquiries to Jerry Godwin (jerry.godwin@sba.gov) via email.
The SBA’s veteran entrepreneurial training fund helps to continue to diversify American businesses. All veterans are encouraged to take up the SDVETP with their nearest local business or higher education institution.
