Detroit Regional Chamber > Racial Justice & Economic Equity > Small Business Association Awarding Up to $300K in Grants to 6 Women Veteran Entrepreneurs

Small Business Association Awarding Up to $300K in Grants to 6 Women Veteran Entrepreneurs

March 20, 2024

Black Enterprise
Jeffrey McKinney
March 20, 2024

A scarcity of capital and a shortage of ownership experience were cited as challenges women veteran entrepreneurs face pertaining to starting or expanding a business.

The Small Business Administration (SBA) aims to help women gain capital by offering funding up to $300,000 to business owners through its Office of Veterans Business Development. The Women Veteran Entrepreneurship Training Program is accepting up to six grantees.

Women veteran business owners and aspiring entrepreneurs can apply. Last year, more than 9,500 participants worked with the Women Veteran Training Program grantees to start or grow their business.

Timothy Green, acting associate administrator for the SBA’s Office of Veterans Business Development, said, “With more than two million women veterans living in the U.S. today and over 12 million businesses owned by women, there is an incredible need for more advocates and resources tailored to women veteran entrepreneurs.”

Green continued, “Through our Women Veteran Entrepreneurship Training Program, we are providing grants that train and empower women veterans as they take their next step with their business— whether that is taking the leap to open their doors or exploring new ways to grow what they’ve successfully built.”

Kristen Wright, owner of Kristen Wright Strategic Communications LLC in Tulsa, Oklahoma, according to the SBA, connected with and received funding from ONABEN, an SBA Women Veteran Entrepreneurship Training program grantee, by taking part  in “Beyond the Boots.”

The program was integral in educating Wright on the federal bidding process. With the knowledge she gained, Wright was able to scale her business and compete for federal contracts.

Potential awardees must act soon: The application deadline is 11:59 PM ET on March 21, 2024. Those interested can get more details and apply here.