What State and Federal Programs are Available for Veterans in California?
There are investments firms across the United States that are actively searching and helping veterans get back to the workforce but not as an employee. Instead, these groups of investment firms are focusing on helping veterans become successful by owning their own thriving business. Effectively being an important part of a retired armed forces arsenal to get back to the civilian lifestyle while contributing in more ways than just being an employee. Veterans can use the available programs via the government or private institutions to employ others and lead the way as the Rangers like to say.
California Governor's Office of Business & Economic Development
In California there is a mirad of government and private sector options to chose from when it comes small business lending. The GO-BIZ program provided by the California Governor’s Office of Business & Economic Development was created to become a point of junction for economic development and job creation. One of the most notable programs under this umbrella is called the California Business Investment Services”. The CalBIS team members provide site selection services that are tailored and at no cost to the employer, corporate real estate executives and site location consultants working with a business establishment that is looking to relocate or expand to the State.
California Investment Network
The California Investment Network community is a platform where independent business owners/entrepreneurs can connect. The investors create an account to keep an eye out on potential business opportunities that are presented. This provide flexibility, an investor can focus on searching for industries they are more interested in or are comfortable investing in. The entrepreneur can post and request funding for business start-up, expansion, equipment and more. The entrepreneur benefits by gaining access to another platform that has potential and can bridge the current obstacles the business or its owners are facing.
Local Business Finance Companies
Another great veteran business funding option is to get a combination of purchase order finance and account receivable factoring. This can help a veteran owned small business owner to meet large contractual obligations while freeing up their cash flow for day to day business operations. There are companies like ours at Meridian PO that know how to perfectly time these types of transactions. Funding your purchase orders while factoring your account receivables can help any company operate with flexibility and agility. Find a local finance company in your area or select the link above to call Meridian directly. We finance all across America for any industry that meet our guidelines.
Funding for Set-Asides & Government Contracts
Private finance companies like ours at Meridian PO, can help you finance any government contract over $10,000. Whether your looking to land that major contractor deal, get your foot in the door as a sub-contractor or land a set-aside government contract, alternative financing options is a solution that shouldn’t be overlooked. Set-aside contracts are a great opportunity for small businesses looking to get their feet wet in the government procurement sector. It allows you to work with a well established contractor that has been awarded a contract so that you and your business can begin to make a name for yourself. Make it a good one!
Other available programs that can be used in conjunction with PO financing and AR financing are mentioned below.
The Office of Financial Assistance | Resources
The “Community Adjustment & Investment Program” was established for those companies that are located in areas that had a negative impact due to the North American Free Trade Agreement. If your business is located in one of these defined locations you can reach out to CAIP and apply to a CAIP loan that allows for repayment of fees due to financing cost. They make financing more readily available while decreasing the cost of borrowing. A very creative way to help businesses increase their bottom line while borrowing.
We hope the information provided here was valuable to you. Please feel free to comment below and feel free to post any other veteran small business programs available by state or federal agencies.