According to the US Small Business Administration (SBA), veterans own 1.9 million businesses. Hello Alice co-founder and president Elizabeth Gore sits down with Wealth! Host Brad Smith to discuss the challenges military veterans face when navigating the journey to small business ownership.
Gore explains that one recurring challenge for veterans wanting to start a small business after their military career is having poor credit or no credit history at all, which can make it difficult to qualify for the loans required to kick-start a business. She adds that grants intended for veterans or military spouses are also a valuable resource that can help fund a small business.
Watch the video above for more about the resources available for veterans starting a small business.
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This post was written by Naomi Buchanan.