Supporting Women Veterans Through Philanthropy And Entrepreneurship
According to DOL Veterans Employment and Training Service, there are over 2 million women veterans in the US. Currently, they make up 10% of the overall veteran population. Once they transition back to the civilian world, they need to become productive members of the community. Thankfully, there are many programs to enrich their lives and build a supportive network. Most of them are tailored to provide individual needs and personal support for as long as needed. In this post, we’ll discuss how to start supporting women veterans through philanthropy and entrepreneurship.
The Woman Veteran-Owned Small Business Initiative program is offered by the federal government. Its mission is to educate and empower veteran entrepreneurs on economic opportunities. In addition, the program helps women leverage government agencies’ intellectual capital, access learning opportunities, and foster collaborations among strategic partners. The Woman Veteran-Owned Small Business Initiative is available across the nation. Veterans are advised to leverage the benefits set aside to start their business. That said, this program is linked to a pool of venture capital offered by SBA. The team helps veterans understand the resources and benefits they are entitled to.
Women Veterans Entrepreneurship Training (WVET) Program
The WVET program aims at training vet women to start, grow, and diversify small businesses. It’s designed to stabilize their business and help them make a difference in the community. Even better, women veterans can submit their proposal for funding from eligible local and state agencies. To qualify for the funding, one must demonstrate a history of quality entrepreneurship. Depending on individual needs, women vets can access funds from $500 to $500k. According to the Lit Fund, the WVET program was designed to support vets during the COVID-19 period. It also provides mentorship.
The US government has ensured that getting a hero loan is easy for women veterans. This type of loan is offered by private lenders and backed by the US department of affairs. Unlike traditional mortgages, hero loan lenders don’t ask for a down payment. Plus, the loan doesn’t require private mortgage insurance. Keep in mind that Hero Loan is exclusive to both active and retired service members. To apply, the loan officers help with the paperwork. On average, the closing is done within 14 days. In addition to that, the program supports veteran-owned businesses.
Center for Women Veterans
The CWV highlights the contributions of women veterans during their years of service. The annual campaign not only helps to transform the culture of the Department of Veteran Affairs but also changes the public notion of what it means to be a veteran. Since CWV is more of a philanthropic campaign, veterans can showcase their impact in areas of education, entrepreneurship, employment, and mental health wellness. It’s worth mentioning that women veterans are the fastest-growing demographics in the Department of Veteran Affairs. And they are estimated to reach 20% by 2045. Some of the renowned women veteran philanthropists include Zaneta Adams, Danielle Applegate, Beverly A. Charley, Ms. Chitwood, and Maureen Elias.
Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
This program empowers women with an entrepreneurial spirit. V-WISE helps women veterans learn business-savvy skills and turn ideas into a reality. Because it’s more of skill development, it incorporates the needs of both starters and growing businesses. As veteran women start a new venture, they can learn actionable strategies to profit from a business. Furthermore, veterans can benefit from services provided by SBA and IVMF partners. The program accommodates honorably discharged women veterans from any military branch. It’s one of the most resourceful initiatives for veterans who want to grow their businesses.
Women veterans possess traits that make them ideal business owners. They are dependable and conditioned to make hard decisions. But to sustain their businesses, the government should increase resources and awareness programs. The stakeholders should also empower women to develop sound businesses.