AMGEN
 

VAMBOA no fee loans

There is great news for veteran entrepreneurs! The U.S. Small Business Administration (SBA) is extendingits Veterans Advantage program through September 30, 2015. The Veterans Advantage program is also being expanded to include loans up to $5 million. The SBA will continue to offer its provision to eliminate the upfront fee paid by all borrowers for the guaranteed portion of 7(a) loans of $150,000 or less.

Prior to the change, entrepreneurs using the SBA guarantee through private lenders had to pay up to 2% of the guaranteed portion of their loans. This would leave small business owners with fees of up to $2,700.

The SBA is also waiving servicing fees for participating lenders paid by them on loans of $150,000 or less.  Beginning on October 1, 2014, the servicing fee that lenders pay each month on 7(a) loans greater than $150,000 will drop to 0.519% on the guaranteed portion of the outstanding balance.

The up-front guaranty fee is being waived for qualified Veteran owned small business owners using SBA Express loans for amounts up to $350,000.  For Veterans using 7(a) loans outside the Express program, upfront fees continue to be waived for loans up to $150,000.

For loans of $150,000 to $5 million, with a maturity in excess of 12 months, the no upfront-fee will drop by 50% using this formula:

Loans of $150,001 to $700,000 will be at 1.5% of the guaranteed portion.

Loans of $700,001 to $5,000,000 will be at 1.75% of the guaranteed portion up to $1,000,000, plus an additional 1.875% of the guaranteed portion over $1,000,000.

Loans with a maturity of 12 months or less can expect to pay an upfront fee of 0.125% of the guaranteed portion.

In order to qualify for SBA Veterans Advantage, small businesses must be at least 51% owned and managed by an individual or individuals who are veterans, service-disabled veterans, active duty military service member participating in the military’s Transition Assistance Program (TAP), Reservists and National Guard members. Also eligible are the current spouses of any of the previous,  or the widowed spouses of service members who died while in service, or of a service-connected disability.  Verifying documentation proving eligibility is required.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: SBA Extends No-Fee Loans: By Debbie Gregory

SBA Michigan District Office

Take advantage of Early Bird Registration through September 30th!

Ford Motor Company’s Dan Fortunato, Director of Construction and Services Purchasing will be providing the luncheon keynote address for this year’s conference.  To register click on:  http://private.vetbizcentral.com/main.sc

Veterans Business Confernce

VAMBOA DOTThe U.S. Department of Transportation (DOT) views military Veterans as a valuable resource, one that needs to be cultivated and utilized. Proving that the department isn’t just offering lip service, the DOT’s Office of Small and Disadvantaged Business Utilization (OSDBU) has been teaming with the U.S. Small Business Administration (SBA) and other partners to administer the Boots to Business: Reboot program to Veterans and Veteran entrepreneurs.

Through the summer of 2014, Boots to Business: Reboot has presented instructional events with discussions on topics such as developing a business plan, molding business concepts, and overall business fundamentals. Veterans were also connected to a network of resources through the OSDBU and its Small Business Transportation Resource Centers.

The OSDBU’s centers work closely with the transportation contracting community to assist transportation-related businesses in their respective regions. The resource centers also serve to provide business counseling to Veteran-owned businesses.

Veteran entrepreneurs participating in the Boots To Business: Reboot were also connected with resources conducive to locating access start-up capital and additional technical assistance. These resources include: Veteran Business Outreach Center, Women’s Business Centers, Small Business Development Centers, and SCORE Counselors.

The DOT sees Veterans as natural entrepreneurs who can make a real impact on the transportation industry. Veterans are disciplined and mission-oriented. Veterans are also decisive and are used to being held accountable.

Unemployment among Post-9/11 Veterans has been consistently higher than the national average. With an increasing number of locally and federally sponsored business ownership programs available to current and former Military personnel, it only makes sense for Veterans to pursue entrepreneurship.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Training for Veteran Entrepreneurs: By Debbie Gregory

VAMBOA and brazzlebox for VAMBOAThe Veteran and Military Business Owners Association (VAMBOA) is partnering with Brazzlebox to provide more services to Veteran owned businesses. This co-op is great news for Veteran entrepreneurs!

At VAMBOA, we are proud to provide resources and information for our members. To that end, we have joined forces with Brazzlebox, a social media website that is set to officially launch on September 18, 2014. The website is a networking resource, designed to connect and promote small and home-based businesses. Brazzlebox will allow small owners to create profiles and setup their own custom outreach, based not only on their geographic location, but also their industry.

Brazzlebox’s Founder and CEO Glen Zinszer came up with the idea for the resource through his own experience as a small business owner. Zinszer has owned and operated a retail store and an insurance firm. Brazzlebox is intended to bring small business owners together in order to share ideas and experiences.

As a team, Brazzlebox and VAMBOA will provide Veteran and service-disabled Veteran small business owners with useful information for starting, maintaining and expanding their companies. The co-op will also allow VAMBOA members to use Brazzlebox to create a network of Veteran small business owners so that they can share knowledge, experience regarding their common needs, concerns and goals.

VAMBOA membership is free to all military and Veteran business owners.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: VAMBOA to Team with Brazzlebox: By Debbie Gregory

VAMBOA VA RFPOn August 25, 2014, the U.S. Department of Veterans Affairs (VA) announced that it plans to issue a Request for Proposal (RFP) for a new Medical Appointment Scheduling System. This will be the next step in a series of actions that the VA is taking to replace its current scheduling system. The new system is expected to improve access to care for Veterans by offering medical schedulers with innovative scheduling software.  The RFP will be made public by the end of September, 2014. From the day of issuance, eligible vendors will have 30 days to respond.

The VA will issue a draft RFP prior to releasing the full RFP to maximize industry and stakeholder input. The solicitation will require a two-part demonstration of capabilities, consisting of a written proposal and a technical demonstration to scheduling staff. The VA hopes to award the contract by the end of the calendar year.

“VA chose a full- and open-competitive strategy to acquire a ‘commercial, off-the-shelf’ scheduling system,” said Stephen Warren, VA’s Chief Information Officer. “We want a system that is user-friendly and tailored specifically for our Veterans.”

VA Secretary Robert McDonald stated, “We want this process to be open to all eligible vendors to make sure the nation’s Veterans have the full benefits the innovative marketplace has to offer. When we can put a solid scheduling system in place, this will free up more human resources to focus on direct Veterans’ care. As VA recommits to its mission of caring for Veterans and evaluating our actions through the lens of what serves them best, we know a better scheduling system is necessary to provide them the timely, quality health care that they have earned and deserve.”

Even as the VA plans to issue its RFP to replace the existing system, efforts are progressing to make the current system better. The VA recently awarded a contract to improve the existing scheduling interface, providing schedulers a calendar view of resources instead of the current text-based, multiple-screen view.  This update is scheduled to begin roll out in January, 2015.

The VA is also developing two new mobile applications, one which will enable Veterans to directly request certain types of primary care and mental health appointments. The other app will give VA schedulers an easier-to-use interface to schedule medical appointments. Both apps are scheduled to roll out in December, 2014.

Veteran business owners will want to throw their hat in the ring, or at least closely watch which company or companies get this large contract with the VA. The companies who win contracts will most likely be looking for Veteran owned small business to sub-contract to, as part of their agreement with the VA.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: VA To Issue RFP:  By Debbie Gregory