FAQ
What does the Veterans Business Outreach Center (VBOC) do?
The VBOC’s mission is to provide business training and counselling services to active duty personnel, veterans from any era, and military connected individuals who want to learn more about, then start and grow a small business of their own. The VBOC network has 31 centers spread across the US to serve veterans and military spouses in all 50 states and US territories. Our office serves Nebraska and Iowa.
Is the VBOC part of the Veterans Administration (VA)?
No. We are an independent specialized program funded through a cooperative agreement by the Small Business Administration Office of Veterans Business Development to serve veterans in Nebraska and Iowa, with starting or expanding their businesses.
How do I qualify for VBOC services?
All U.S. military veterans, including Active Duty personnel and those with any prior military service, as well as military spouses, and surviving military spouses qualify for VBOC services. This VBOC serves Nebraska and Iowa. If you are in another state or U.S. Territory, please consult the list of http://bit.ly/4nH7SVT to determine which regional office to contact.
Does the VBOC lend money to businesses?
No. The VBOC is not a lending institution and does not lend money to small businesses. A veteran will have to obtain financing through a bank or credit union, other lenders, or by other means. The VBOC can help you understand the lending process, become familiar with SBA loan guarantee programs and traditional business financing, then help you prepare the documents you will need to take to a lender.
Does the Veterans Administration (VA) provide loans for veterans to start businesses?
No. However, the VA’s Vocational Rehabilitation and Employment (VR&E) services may be provided to assist Veterans in starting their own businesses or independent living services for those who are severely disabled and unable to work in traditional employment, due to a service related injury. For more information, go to http://bit.ly/4nCcIn3.
Who funds the Veteran Business Outreach Center?
The Veterans Business Outreach Centers were created by the U.S. Congress to enable men and women who have served in the Armed Forces to take full advantage of the opportunities presented by owning and operating their own business. Funding for the VBOC is provided by the Small Business Administration (SBA) Office of Veterans Business Development (OVBD). The OVBD was established to help Veterans become full partners in the economic development through small business ownership.
Does a Veteran have advantages for Government Contracts?
In general, a percentage of all federal contracting dollars go to businesses owned by service disabled veterans. While both state and federal agencies are actively seeking service-disabled veteran-owned small businesses (SDVOSB) as vendors, the road to successful federal contracting is a multi-year process and requires substantial registration and certification. Contact us to learn more about establishing a SDVOSB or a VOSB (Veteran Owned Small Business).
How much does it cost?
VBOC services are free! You have earned access to the VBOC’s services through your military service or your personal relationship to a military member. VBOC’s business counseling, training and resources are provided at no cost to you. All you have to do is register here: https://bit.ly/3XneuOA
Where can I get training to help me start and run a small business?
Check out our Training & Resources page where we cover many of the topics entrepreneurs need to know.
Are there any grants to start a for-profit business?
No. Currently, the VBOC is unaware of specific grants for veterans, or anyone for that matter, to open a for-profit business. Typically, grants go to non-profit social services, research and educational institutions. However, the VBOC advises anyone interested in grants to search www.grants.gov and other financial publications for information.
What is the SBA? Do they give loans for individuals to start businesses?
The US Small Business Administration (SBA), established in 1953, provides technical, financial, and management assistance to help Americans start, run, and expand their businesses. With a portfolio of business loan guarantees, surety bond loans and business disaster recovery loans, the SBA is the nation’s largest single financial backer of small businesses. However, the SBA does not give direct loans to start businesses. Much like the VA guarantees home loans for veterans, the SBA guarantees a portion of the loan to the lender, if you qualify. Learn more about the SBA business loan programs at https://www.sba.gov/loans-grants