By Debbie Gregory.
I recently was able to talk with a new non-profit in California called Veteran Launch. They are offering what I like to call “Smart Money” to veteran entrepreneurs. I call it “Smart” because of the attractive interest rates and the network and services they offer to Veterans for free as a part of their support.
First – “smart” interest rates. It always surprises me that about two-thirds of veterans do not shop around to get the best interest rates on their business financing. Veteran Launch is very attractive offering prime plus 4% which is about 7.5% right now. On loans up to $250,000 this is not only close to what banks offer but also much better then most of the online and peer lending options for Veterans.
The next “smart “thing that impressed me about Veteran Launch was how they work with the veteran business owner going into the transaction and help them refine their financials and business plan using some very sophisticated tools. What’s even better is on the back end of the transaction Veteran Launch is there to support the veteran business with free financial software and one-to-one business consulting to help reduce costs, increase revenue, and make sure they stay on top of their finances as they grow their business – I don’t see many lenders doing this for veterans.
They also bring a growing network of organizations that want to work with veteran owned businesses. This network is another “smart” reason to consider Veteran Launch because they can help you find new clients and business partners.
Perhaps the “smartest” thing I saw in Veteran Launch was that they are lead and staffed by military veterans. Their managing director and Army veteran, Noah Harris, brings a no nonsense approach to their support a veteran business owners and it seems to really work. Today they have worked with over 25 veteran business owners and loaned them almost $2.5 million dollars. If you’re a California-based business I suggest you check them out at www.veteranlaunch.org.