About Veterans Assistance in Starting a Small Business

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Veterans assistance for starting a small business requires a business plan, researching about the business and visiting advisers to discuss grants and loans. Understand the terms of a veteran's loan with help from a financial consultant in this free video on business financing.

Part of the Video Series: Business Financing
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Video Transcript

My name is Bill Rae. I'm with Alumni Financial Services. I've been in business in the finance world for well over twenty years, and today the question is about Veteran's Assistance in starting a small business. Well, as in any start-up of a small business, what you're going to need to do is make sure that you have a business plan. And in order to have a business plan that's well thought out and written, you need to understand that you have a product or a service that you think you can bring to the market place that is unique, a little different or a little better than what's currently out there, and more importantly that you're the person that can bring it to fruition and make a profit out of the business. With that being said, whether you're a Veteran or not, one of the best places to start is to look for the SBA, the Small Business Administration. They provide advisers that will talk to you and give you counseling. When you talk to an SBA, again, you're going to have to have a written business plan. You're going to have to have a cash projection meaning that you can show how much money is going to be made over what period of time and that the business truly can make a profit. Once all those things are done, again, visit the website: grants.gov. See if there's any grants or loans available that will give special preferences to Veterans. As always, I tell you, make sure you understand the contracts that you sign. Make sure you understand the cost of the monies that you're borrowing. Make sure you understand the terms and more importantly, seek outside council. Talk to a trusted adviser or your accountant. Without a doubt, do your homework. My name is Bill Rae. I'm with Alumni Financial Services and we're here to help you build wealth.

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