In honor of National Veterans Small Business Week, we want to celebrate and empower current and aspiring service-members, veterans, and military-spouse entrepreneurs. According to the U.S. Small Business Administration (SBA) Office of Advocacy, veterans own nearly two million businesses, employ more than five million Americans, and generate $1.3 trillion in total annual sales. Veteran-owned businesses play a crucial role in local communities and the greater economy. Through business ownership, veterans continue to serve our country by contributing to the economy and creating opportunities for other Americans.
The same qualities that bring success in a military career—resilience, adaptability, discipline, and leadership—seamlessly transfer to civilian life and entrepreneurship. But veterans face unique challenges, including access to capital, lack of business experience, limited networks, and more. Stellar Bank is committed to helping local veteran-owned businesses succeed through tailored banking assistance and access to our small business resources.
Here are a few opportunities for veteran-owned business owners to explore.
- Veteran-Centric Resources and Opportunities Veteran entrepreneurs don't have to go it alone. As a veteran or military spouse, you have access to robust support networks, including government programs, veteran organizations, and the SBA. These resources offer mentoring, funding opportunities, and guidance to help veterans thrive in the business world.
- Boots to Business | U.S. Small Business Administration Boots to Business (B2B) is an entrepreneurial education and training program offered by the SBA as part of the Department of Defense Transition Assistance Program (TAP). Its “Introduction to Entrepreneurship” course introduces participants to the skills, knowledge, and resources needed to launch a business.
- Military Spouse Pathway to Business
Relocation is part of the landscape for many military spouses and families. Small business ownership can be a transportable vocation that supports this lifestyle. Military Spouse Pathway to Business provides classes that cover a broad range of entrepreneurial business topics and resources—at no cost to you.
- Houston Veterans Chamber Of Commerce
The Houston Veterans Chamber of Commerce (HVCC) encourages economic growth and development of veteran-owned businesses throughout the Houston region. By joining HVCC, you can access a wealth of networking, mentorship, education, and funding opportunities for veterans.
- Texas Veterans Commission
The Veteran Entrepreneur Program from the Texas Veterans Commission provides Texas veterans with individualized consulting, referrals, and educational services.
- Relationship Banking
Entrepreneurship is rewarding, but it’s not without challenges. Building a relationship with your local Stellar Bank team can give you the right financial foundation to start, expand, or maintain operations. The more you share, the better we can understand your unique needs and better serve you with a strategic, integrated approach for business banking and loan opportunities.
- For example, our partnership with the U.S Small Business Administration’s 7(a) and 504 SBA loan programs allow borrowers to contribute less of their own capital as a good faith down payment and provide longer payment terms than conventional loans. Our dedicated SBA team understands the intricacies of SBA financing, including eligibility, underwriting, closing, and funding, to help you reach your goals.
- Small Business and Financial Education
Whether you’re a seasoned entrepreneur or you’re just getting started, you can explore the Stellar Bank Financial Education Center for small business learning tools. Learn how to develop a business plan, overcome financial hardships, obtain funding, manage growth, and more.