PRESS OFFICE
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SBA Awards $100,000 for Veteran Owned Small
Business Growth Pilot Training Program
WASHINGTON – The U.S. Small Business Administration today
announced a partnership with the Veteran Entrepreneurial Training and
Resource Network (VETRN) to establish a pilot training program for military
veterans who are small business owners and their immediate family members.
The Veteran Owned Small Business Growth Training program will equip these entrepreneurs with the resources and networks necessary to grow their small businesses. An award of $100,000 from President Donald Trump’s salary from the second quarter of fiscal year 2018 will fund the program.
Starting in
September 2019, this 26-week program based in Portsmouth, New Hampshire will
feature 13 weeks of Saturday morning classroom sessions with 12 to 20
participants, as well as 13 weeks of peer-to-peer mentoring sessions. The
course curriculum will include strategic planning, financial management, cash
flow forecasting, marketing the small business, sales methods, human
resources, developing a growth plan, access to capital, legal issues, and
government contracting.
“While programs
exist that help veterans start their small business, there is a critical need
for programs that assist existing business owners with growing their
business,” said SBA Acting Administrator Chris Pilkerton. “Adding VETRN to
the SBA resource network will enable us to fill this gap and empower veterans
with the training, mentorship, tools, and network they need to achieve their
long-term goals.”
Applicants must
be a current business owner with at least one year of operation and one
employee (not including the owner), and annual revenues of $75,000 or more.
Also required is the passion, dedication and commitment to grow the small
business.
Veteran
business owners interested in finding out more information or applying for
the September 2019 program can visit the VETRN website to complete an application, or
send an email to info@vetrn.org.
To learn more
about other SBA veterans programs and resources, visit www.sba.gov/vets.
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Release Date: July 3, 2019
Release Number: MA19-37
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Contact: carol.chastang@sba.gov
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