Applying for a business grant for veterans? Here’s what you need to know Are you a veteran? If so, you know that it’s challenging to adjust to civilian life once you’ve exited from the military service. The challenge to live as a civilian becomes all the more intense if you’ve been in the service for quite a long time or if you’re disabled at the time of your service. The easiest and fastest way to get back to living the life of a civilian means you have to find a way to make the most of your time. What’s the best way to do that, you may ask? It’s by establishing your business. To your relief, a number of government agencies and non-profit organizations across the US are helping war veterans like you set up their business. These agencies and government bodies help vets get the resources for starting their own business. So, if you’re ex-military personnel looking for funds to build a business from scratch, then this explainer is just for you.
Funding opportunities: Grants and loans When you look for new funding opportunities to help your business get established, you’re actually looking for loans and grants. But most veterans want to make a beeline for grants instead of loans. Why? Well, that’s because of the basic nature of grants. The biggest difference between grants and loans is that grants offer free money, which isn’t the case with loans. The thing is, loans have to be repaid over a specific period. Even worse, they come with pocket-unfriendly interest. But that’s not the case with grants. Grants are known as free money because they needn’t be paid back. That’s exactly why it makes complete sense to go with grants because they bring a no-obligation funding opportunity to the table. But because of its nature alone, a veteran-exclusive grant may not be so easy to secure. Why? Well, the competition to get such a grant is super-intense. Other