9 crowdfunding sites for your business

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For

entrepreneurs and startups with big business plans, taking the next step to
raise capital can require a serious leap of faith. How will the project be
funded? Who can help weed out the strong ideas from the weak ones? What will
potential customers think of the product itself? Crowdfunding sites are a
great way to answer all those questions and more, and there are more than 1,500
crowdfunding companies to choose from in the U.S. alone. Find out what
crowdfunding sites are, the four main types of crowdfunding, and some of the
top crowdfunding sites for business owners and entrepreneurs.

Related: 38 ways to earn passive income streams

 

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What Are Crowdfunding Sites?

Crowdfunding
sites are websites that allow investors to select from hundreds of startups and
business ventures and invest as little as $10 on the growth of the one(s) they
choose. These platforms generate revenue by taking a percentage of the funds
raised through the site. The U.S. is the largest source of global
crowdfunding, with transaction values reaching $537 million in 2021 and some of
the top crowdsourcing sites on the internet.

What Are the Different Types of Crowdfunding?

 

There are
four main types of crowdfunding:

  1. Donation-Based Crowdfunding: People give money
    to a person, company, or campaign without receiving anything in return.
    For example, if someone needs an expensive piece of equipment for their
    new startup, they might ask for donations to help them make that purchase.
  2. Peer-to-Peer Lending or Debt-Based
    Crowdfunding: Backers pledge money as a loan to help a company or campaign
    get off the ground. The loan accrues interest and has to be repaid within
    a set period of time.
  3. Reward-Based Crowdfunding: Donors receive
    something in return for their donations. That can range from a discounted
    product or service to a branded perk like a t-shirt, coffee mug,
    etc.
  4. Equity-Based Crowdfunding: Startups or
    small businesses give away equity or shares of their company in exchange
    for investment funding from backers. Usually, the more the backers give,
    the more shares they receive.

What Are the Benefits to Using Crowdfunding?

 

A few of
the advantages of using crowdfunding for a startup business include:

  • Access to non-traditional funding. Entrepreneurs
    and small business owners can qualify for funds outside the standard
    sources and avoid the rigid requirements that accompany them.
  • A more efficient way to raise
    funds. Especially with some of the more popular crowdfunding
    platforms, it can be easy to tell your startup’s story, feature compelling
    media and messaging, offer incentives and rewards and have a one-stop-shop
    for potential backers to find you.
  • A built-in brain trust. Customers (and
    backers) are only ever a click or two away. This gives you the chance to
    call on them for feedback and ideas and field their questions, concerns,
    and complaints. This continuous communication loop creates a built-in
    brain trust.
  • Added marketing and media exposure. The
    more popular the crowdfunding platform, the more eyes on your campaign,
    the higher the potential for press coverage and building brand awareness.
    This can be a great way to reach backers outside your existing
    network.

What Are Sites for Crowdfunding?

Lantern
by SoFi took a look at some of today’s most popular sites for crowdfunding,
conducted thorough research on each, and evaluated them based on the varying
needs of many different business types. In the end, we whittled our list
down to these eight crowdfunding sites for businesses, all of which have the
most flexible funding options:

Kickstarter

Kickstarter is
a creativity-focused crowdfunding site based out of Brooklyn, NY. It’s arguably
the most popular crowdfunding site in existence. Kickstarter launched in
2009 and it has since helped people pledge $6.2 billion to the 210,099 projects
that have been successfully funded on the platform.

 Kickstarter Pros

  • Massive marketplace with many users
  • High visibility, exposure, and familiarity as
    a platform
  • Transparent, all-or-nothing funding
  • Exclusive service providers
  • Subscription-based model

Kickstarter
Cons 

  • A massive marketplace means massive
    competition
  • You can’t keep your funds if you don’t reach
    your crowdfunding goal
  • Subpar customer service
  • More creative-minded than
    business-minded
  • Rules and restrictions on how to launch a
    product or project

Indiegogo

Indiegogo is
a San Francisco-based crowdfunding platform that was founded in 2007 with an
emphasis on PRE-mainstream funding. Indiegogo lets people solicit funds
for an idea, charity, or startup company, and backers can evaluate campaigns
and support entrepreneurs and their innovations from the earliest stages of
product development.

 Indiegogo Pros 

  • Campaign creators can continue to raise
    money after a successful fundraiser
  • The earliest backers get limited-time perks
    and pricing
  • Two types of funding options: all-or-nothing
    or keep-what-you-raise
  • Diverse range of categories you can create
    campaigns for — from Tech & Innovation to Film, Theater, Comics,
    Charity, Personal Causes and more

Indiegogo
Cons 

  • Less visibility than bigger-name sites like
    Kickstarter
  • Campaigners must personally ship out perks and
    rewards to backers who claim them
  • A 5% fee per standard crowdfunding campaign
    plus payment processing fees of 3%+$0.20

Seedinvest

When it
comes to funding for startups, Seedinvest is an equity-based
crowdfunding platform that easily connects startups with investors
online. Headquartered in New York and founded in 2012, Seedinvest thoroughly
vets its startup applications and only puts forth the ones (less than 2% of all
applicants) that pass its self-proclaimed “comprehensive due-diligence
process.”

 

Pros of Seedinvest

  • Minimum investments for backers as low as $500
  • Accepts non-accredited investors
  • Doesn’t involve any ongoing fees
  • Its Auto-Invest feature helps investors easily
    build a diversified portfolio

Cons of
Seedinvest 

  • Charges a 2% processing fee (up to $300 max)
    per investment, although it’s returned if the company doesn’t reach its
    fundraising goal
  • Investments are risky and highly
    illiquid

Quirky

Quirky is another
NYC-based crowdfunding site, but with a bit of a twist. It’s more of a service
that connects a large community of inventors so they can collaborate, gather
feedback and facilitate the production and sale of their inventions. Quirky
then helps produce them and bring them to market. Even though it went
bankrupt in 2015, Quirky came back with brand-new financing and owners and it’s
moving forward fast.

 

Quirky Pros

  • Free to use
  • Entrepreneurs have the idea, Quirky creates
    the product
  • Easy idea-submission form and process
  • Great platform for inventors and “fixers” who
    see everyday challenges and offer solutions

Quirky
Cons

  • The process for inventors getting paid is
    overly involved
  • If an inventor’s idea is rejected, there isn’t
    always an opportunity to refine it
  • Quirky retains the rights to the inventor’s
    intellectual property
  • It can alter royalty payment amounts “for any
    reason”

Fundable

Fundable is a SaaS
crowdfunding platform with a focus on small business
funding
. Headquartered in Powell, Ohio. Fundable generated over $80
million in funding commitments from investors, customers, and friends in its
first year alone. Fundable’s main claim to fame is offering hands-on
support to startups and small businesses as they navigate the fundraising
process.

 

Fundable Pros

  • Created by startup founders who can relate on
    a personal level
  • A hands-on approach from staff during every
    step of the process
  • Offers both reward-based and equity-based
    crowdfunding
  • Minimal fees for successful campaigns
  • Campaigns are prescreened, which benefits
    backers

Fundable
Cons

  • Entrepreneurs don’t get funds if they don’t
    reach their funding goal
  • Flat monthly fees can get costly for
    unsuccessful campaigners
  • Campaigns are prescreened before they get
    approval, which hurts pitching companies

CircleUp

CircleUp is an equity-based
crowdfunding platform based out of San Francisco, CA. It was created with
social enterprises and B Corporations in mind. CircleUp uses a
proprietary, data-centric technology called Helio to
predict breakout companies and shine a light on untapped potential, and it
caters mainly to early-stage consumer brands with physical retail products.
Think: SmartyPants
vitamins
.

 

CircleUp Pros

  • An emphasis on diversity, inclusion, and
    holding people accountable
  • A quality marketplace with access to over 800
    investors, 50% of which are institutions
  • A separate $125 million Growth Partners Fund,
    which uses its Helio software to identify startups that deserve
    investment

CircleUp
Cons

  • Fee structure is vague, and it varies
  • Investors must be accredited
  • Only 7% of startups are approved to raise
    money on its website
  • Campaigns have fundraising minimums and maximums

LendingClub

LendingClub
is a peer-to-peer lending-based loan crowdfunding site that’s headquartered in
San Francisco, CA. LendingClub borrowers
apply for loans within its network of lenders to back up to $40,000 in
investments. The company thinks accessing money should be seamless and offers
everything from personal loans to business loans, education loans, and
more.

 

LendingClub Pros

  • The minimum credit score to apply for a loan
    is 600 — a pro for subprime borrowers
  • No hard credit inquiry is required to check
    loan rates on the site, which means less credit score damage while you’re
    shopping around for a loan
  • Borrowers can stretch the loan repayment terms
    to three years or even five years

LendingClub
Cons

  • There’s a medley of fees for borrowers, like a
    $7 fee if you pay by check, a $15 low balance fee, and a 5% late fee
  • It can take up to seven days for LendingClub
    to actually turn the money around and get it into the borrower’s
    account
  • LendingClub charges an origination fee, which
    is a payment associated with the establishment of an account with
    them.

Patreon

 

If you’re
searching for crowdfunding for a small business or a platform that lets
you raise money for your artistic endeavors, Patreon might be a solid fit for
you. Patreon helps
artists give their fans exclusive access to their content and insight into
their creative process. In doing so, artists can create a recurring revenue
stream, feature work their audience loves and build a connection with their
fanbase.

 

Patreon Pros

  • Helps creators crowdfund continuously
  • Offers rewards-based crowdfunding
    opportunities and multiple subscription plans
  • Keeps it light on the restrictions in
    comparison to other crowdfunders

Patreon
Cons 

  • There can be snags in collecting funds for
    creators
  • There aren’t any built-in promotional tools
  • Many people have complained publicly about the
    platform

Alternatives to Crowdfunding for Your Business

For some
startups, aspirers, and creators, crowdfunding seems like an ideal platform to
raise seed funds. Still, there are other options for those who want to take a
more traditional approach. Here are a couple of alternatives to
crowdfunding for your business:

Small
Business Grants
 – Grants for small businesses are a great way to gather
funds for a product or project. Grants are lump sums that are awarded to a
business or business owner by federal, state, or local governments or even
private corporations. Unlike loans, grants don’t have to be repaid, although
they may have stipulations about how the money can be spent. If you visit Grants.gov, you can find a
list of small business grants and search them based on a variety of
criteria.

Small
Business Loans – 
Small business loans offer a variety of
options to entrepreneurs and startups that need to borrow funds to grow their
company. They often come in the form of an SBA loan,
which is partially-guaranteed by the U.S. Small Business Administration (SBA)
and issued by participating lenders. They can also come in the form of a
personal loan, term loan, line of credit, cash advance, or even as equipment or
startup financing. If you’re trying to put your best foot forward by
getting small business
funding
 for your startup or even invention or idea, a small
business loan can help you get on the right track.

 

The Takeaway

Crowdfunding sites are websites that allow
investors to select from hundreds of startups and business ventures and invest
as little as $10 on their growth. There are four different types of
crowdfunding: donation-based, debt-based, reward-based and equity-based. For a
business or entrepreneur, the benefits of crowdfunding include access to
non-traditional funding sources, a more efficient way to raise funds, having a
built-in braintrust to refine a project or business plan, and extra
marketing/media exposure.

Learn more:

This article originally appeared on LanternCredit.com and was syndicated by MediaFeed.org.

 

Lantern by SoFi:

This Lantern website is owned by SoFi Lending Corp., a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS number 1121636. (www.nmlsconsumeraccess.org)

 

All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. The actual terms you may receive depends on the things like benefits requested, your credit score, usage, history and other factors.

 

*Check your rate: To check the rates and terms you qualify for, Lantern conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender(s) you choose will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

 

All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown on this website are from lenders and are estimates based upon the limited information you provided and are for information purposes only. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the lender you select, their underwriting criteria, and your personal financial factors. The loan terms and rates presented are provided by the lenders and not by SoFi Lending Corp. or Lantern. Please review each lender’s Terms and Conditions for additional details.

 

Personal Loan:

SoFi Lending Corp. (“SoFi”) operates this Personal Loan product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Even’s Licenses and DisclosuresTerms of Service, and Privacy Policy.

 

Student Loan Refinance:

SoFi Lending Corp. (“SoFi”) operates this Student Loan Refinance product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lender’s receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Even’s Licenses and DisclosuresTerms of Service, and Privacy Policy.

 

Student loan refinance loans offered through Lantern are private loans and do not have the debt forgiveness or repayment options that the federal loan program offers, or that may become available, including Income Based Repayment or Income Contingent Repayment or Pay as you Earn (PAYE).

 

Notice: Recent legislative changes have suspended all federal student loan payments and waived interest charges on federally held loans until 01/31/22. Please carefully consider these changes before refinancing federally held loans, as in doing so you will no longer qualify for these changes or other future benefits applicable to federally held loans.

 

Auto Loan Refinance:

Automobile refinancing loan information presented on this Lantern website is from Caribou. Auto loan refinance information presented on this Lantern site is indicative and subject to you fulfilling the lender’s requirements, including: you must meet the lender’s credit standards, the loan amount must be at least $10,000, and the vehicle is no more than 10 years old with odometer reading of no more than 125,000 miles. Loan rates and terms as presented on this Lantern site are subject to change when you reach the lender and may depend on your creditworthiness. Additional terms and conditions may apply and all terms may vary by your state of residence.

 

Secured Lending Disclosure:

Terms, conditions, state restrictions, and minimum loan amounts apply. Before you apply for a secured loan, we encourage you to carefully consider whether this loan type is the right choice for you. If you can’t make your payments on a secured personal loan, you could end up losing the assets you provided for collateral. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on the ability to meet underwriting requirements (including, but not limited to, a responsible credit history, sufficient income after monthly expenses, and availability of collateral) that will vary by lender.

 

Life Insurance:

Information about insurance is provided on Lantern by SoFi Life Insurance Agency, LLC.

More from MediaFeed:

Small business grants for veterans

 

After serving in the military, many veterans turn to small business ownership. The appeal of creating something from scratch and doing what they love has attracted millions of vets to become entrepreneurs in the United States. But as you know, running a business typically has a hefty price tag attached to it.

 

Funding one can include small business loans for veterans as well as small business grants for veterans. There are pros and cons to both types of funding, and small business owners may rely on a combination of the two. We’ll cover information to help you better understand small business grants for veterans, including:

  • What small business grants for veterans are
  • Where to find small business grants for veterans
  • How to get a small business grant for veterans
  • General eligibility requirements
  • Other funding options for veteran business owners
  • Additional training and resources for veterans

Related: Pros & cons of working after retirement

 

Drazen Zigic / istockphoto

 

When it comes to finding money to help you launch or grow a business, you have a few options. One is a business loan, which needs to be paid back over time. You can also seek investors who, in exchange for giving you capital, will typically then own a piece of equity in your business. Your third option is a small business grant.

 

Unlike a loan, a grant doesn’t usually have to be paid back. It is essentially debt-free financing that allows you to have the capital you need to start or grow a business. Almost any business can apply for a grant, but there are some grants specifically geared toward veteran-run businesses. Given the amount of competition the average federal grant sees, you may have more of a fighting chance of getting one if the pool is limited to only veteran business owners.

 

Grants provide capital that can be used for many purposes in a business, from covering startup costs to allowing you to hire employees. You could use the funds to buy equipment or technology that helps you work more productively — it all depends on the grant itself.

 

Olivier Le Moal / Getty

 

There are many government small business grants available to veterans. It’s just a matter of knowing where to look in order to find the right one for you and your business. Whether you’re seeking small business startup grants for veterans or business grants for disabled veterans, here are some resources to get a start on your search.

 

DepositPhotos.com

 

Grants.gov is a large database of all the federal grants available to anyone, including vets. You can search by agency, category or eligibility. Each grant has different eligibility requirements, and only certain types of organizations may apply. It’s important to read those requirements carefully to make sure you qualify.

 

 

Another database to spend some time on is GrantWatch. Here, you can find grants from federal, state and local government agencies, as well as foundations and corporations in each state.

 

 

DepositPhotos.com

 

Most states have web portals with resources for veterans living in that state. For example, California’s CalVet lists resources for veterans and service-disabled vets, which may include self-employment grants for service-disabled veterans. You can also find local Veteran Business Outreach Centers (VBOCs) by zipcode here.

 

 

Motortion / istockphoto

 

There are small business grants for veterans in a variety of situations, from disabled vets to those starting a brand new business. Requirements will vary, but most require you to be a veteran, reserve or transitioning active duty member of any branch of the U.S. military. Some grants are also open to spouses or children of military members.

 

 

Zinkevych / istockphoto

 

To apply for a grant, first review the eligibility requirements to ensure you meet them. Pay attention as well to deadlines so you don’t waste time filling out paperwork for a grant that’s already closed its window for applications.

 

 

DepositPhotos.com

 

Gather the required paperwork, which might include a business plan, financial statements or mission statement. Next, allot plenty of time to write your grant proposal and/or fill out the application. You may be asked how your business started or what you plan to do with the funds. Answer honestly, but don’t be shy about singing your company’s praise. This is your opportunity to display what is unique about your business.

 

 

DepositPhotos.com

 

Finally, carefully review your application and make sure you included everything required. Proofread your proposal, maybe asking a colleague to provide a second set of eyes. You want your application to be as flawless and engaging as possible.

 

You may also consider hiring a grant writer. This is someone who fills out grant applications for a living. They will likely be more familiar with the process and what reviewers are looking for in an application.

 

Prostock-Studio/ istockphoto

 

Grants are often difficult to get, with so much competition for each of them. You may still have other financing options, many of which are also geared specifically for veterans.

 

 

istockphoto / yacobchuk

 

While you may qualify for any business loan, when applying for small business loans, look for those that offer preference to vets. StreetShares, for example, offers both small business loans and lines of credit at low rates for veterans.

 

The SBA provides a variety of small business loans for veterans, including the Military Reservist Economic Injury Disaster Loan program, which provides capital to eligible small businesses to cover expenses it couldn’t otherwise cover because an essential employee was “called up” to active duty in the military reserve. There is also the Veteran’s Advantage Guaranteed Loans program, which provides up to $150,000 fee-free loans to veteran-owned businesses.

 

When evaluating loan options, it’s important to look at interest rates and terms. This includes how long you will be paying back the loan and how much you will spend over the length of that loan.

 

DepositPhotos.com

 

Angel investments or venture capital can provide another option for financing. Hivers and Strivers is an angel investment group that funds early-stage startup companies founded and run by graduates of the U.S. Military Academies. In addition to investing capital, the organization also provides useful contacts, industry experience and mentorship.

 

 

Ridofranz // istockphoto

 

If you happen to be a female vet, you may have even more resources at your disposal. There are small business loans for women, as well as small business grants for women, that can help you find the capital you need to grow your business.

 

Some cater specifically to female vets, like StreetShares Foundation’s Female Founders Veteran Small Business Award. This award gives three women $25,000 in total and provides them with the opportunity to pitch their ideas to investors.

 

To qualify for StreetShares Foundation’s grant, you must be a veteran, reserve or transitioning active duty member of any of the United States Armed Forces, a spouse of a military member or the child or immediate family member of a military member who died on active duty.

 

You must be 21 and own at least 51% of the veteran-owned business. The grant is given to qualified applicants who lack financial means to start or grow an early-stage business or non-profit.

 

vadimguzhva / istockphoto

 

Beyond grants and loans, there are resources that can help you plan, launch, and grow your veteran-owned business.

 

The Small Business Administration’s Office of Veterans Business Development provides resources and small business programs as well as training, counseling, and mentorship, as well as information on Federal procurement programs for veterans.Who is eligible for these services?

  • Veterans
  • Service-disabled veterans
  • Reserve component members
  • Their dependents or survivors

Here are some other funding options to consider.

 

AndreyPopov/istock

 

The federal government has the aim to award at least 3% of all federal contracting dollars to service-disabled veteran businesses each year. The Service-Disabled Veteran-Owned Small Businesses program assists service-disabled veterans in securing those government contracts. Their eligibility criteria is as followings:

  • Small business
  • At least 51% owned and controlled by one or more service-disabled veterans
  • Have one or more service-disabled veterans manage day-to-day operations and make long-term decisions
  • Service-connected disability

 

EvgeniyShkolenko / istockphoto

 

The Warrior Rising program includes the Warrior Academy, designed to help “vetrepreneurs” at every stage of business growth succeed. It also provides vets with mentoring, assistance in finding funding options, and a community of veteran business owners who offer one another support. Warrior Rising’s process includes:

  • Intake and tracking: Phone interview to understand your background and determine where you most need help
  • Instruction: Warrior Academy: Self-paced video modules with homework and feedback
  • Mentoring: One-on-one coaching in specific areas like marketing or accounting
  • Funding opportunities: Assistance helping you find the best grants or loans
  • Warrior Community: Connects you with other “vetrepreneurs” in your area

 

Peppersmint / istockphoto

 

Patriot Boot Camp provides educational small business programs, mentors, and a community of experts and peers to active duty service members, veterans and their spouses looking to start a business. Programs offered include:

  • 3-day bootcamps
  • Lunch and learn sessions
  • Webinars

 

Johnrob

 

Veterans Business Resource Center provides counseling and mentoring services for new veteran business owners, as well as training and webinars to continue their education. Services offered include:

  • Marketing plan assistance
  • Training and events
  • Financial analysis
  • Business strategy
  • Consulting
  • Government contracting assistance

 

DepositPhotos.com

 

Another entrepreneurship program, V-WISE IGNITE, targets women veterans looking to start a business. The one-day training event provides resources and support to help them on their path.Who is eligible for these services?

  • National Guard and Reserve components
  • Active duty women service members of any military branch, including National Guard and Reserve components
  • Women spouses/same-sex life partners of above (including widowed spouses/partners)

 

DepositPhotos.com

 

The U.S. Department of Veterans Affairs has a program, Veteran Readiness and Employment (VR&E) Self-Employment Track, that provides assistance to veterans with service-connected disabilities or employment barriers. The program assists in creating a business plan, analyzing your business concept, and providing you with the resources you need to succeed. Who is eligible for these services?

  • Service member or veteran with an employment barrier or handicap
  • Service-connected disability makes it hard for you to prepare for, obtain and maintain suitable employment

 

qingwa / istockphoto

 

Boots to Business (B2B) is a program created by the SBA and Office of Veterans Business Development, and it provides courses to help vets become successful business owners.Who is eligible for these services?

  • Transitioning service members (including National Guard and Reserve)
  • Their spouses on military installations worldwide

 

Depositphotos

 

The Entrepreneurship Bootcamp for Veterans (EBV) program is offered free of charge to post-9/11 veterans and their families. It targets businesses in early-growth mode, providing entrepreneurship and business management training. Programs available include:

  • EBV Accelerate: A bootcamp-style program that provides insight and education on financial, management, marketing, and strategic planning challenges established businesses encounter.
  • EBV Program: cutting edge, experiential training in entrepreneurship and business management for companies in early growth mode.
  • EBV-Families Program: Provides the same training to family of qualified veterans.

 

istockphoto/Ridofranz

 

If you are interested in bidding on government contracts, explore the Vets First Verification Program. Run through the Office of Small & Disadvantaged Business Utilization (OSDBU), this program gives vets priority when bidding on federal and state government contracts, as well as better access to capital and tax relief.Who is eligible for these services?

  • Veteran owns 51% or more of the company
  • Veteran has full control over the day-to-day management, decision-making, and strategic policy of the business
  • Veteran has managerial experience
  • Veteran is the highest-paid person in the company
  • Veteran works in the business full time
  • Veteran holds the highest officer position in the company

 

DepositPhotos.com

 

Small business grants for veterans provide a unique opportunity: access to capital free of charge that can help you realize your entrepreneurial dreams. Realize that the grant process may be slow, so it’s important to start your homework early to find the grants that you qualify for. In general, you can apply for and accept multiple grants.

 

You can also combine multiple financing options to launch or expand your business. This can mean a combination of grants and loans, and possibly investors as well. It’s a good idea to evaluate all funding sources to find what works best for you.

 

Learn more:

This article originally appeared on LanternCredit.comand was syndicated by MediaFeed.org.

 

Lantern by SoFi:

This Lantern website is owned by SoFi Lending Corp., a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS number 1121636. (www.nmlsconsumeraccess.org)

 

All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. The actual terms you may receive depends on the things like benefits requested, your credit score, usage, history and other factors.

 

*Check your rate: To check the rates and terms you qualify for, Lantern conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender(s) you choose will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

 

All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown on this website are from lenders and are estimates based upon the limited information you provided and are for information purposes only. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the lender you select, their underwriting criteria, and your personal financial factors. 

 

The loan terms and rates presented are provided by the lenders and not by SoFi Lending Corp. or Lantern. Please review each lender’s Terms and Conditions for additional details.

 

Personal Loan:

SoFi Lending Corp. (“SoFi”) operates this Personal Loan product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. 

 

The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. 

 

Student Loan Refinance:

SoFi Lending Corp. (“SoFi”) operates this Student Loan Refinance product in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lender’s receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. 

 

More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Even’s Licenses and Disclosures, Terms of Service, and Privacy Policy.

Student loan refinance loans offered through Lantern are private loans and do not have the debt forgiveness or repayment options that the federal loan program offers, or that may become available, including Income Based Repayment or Income Contingent Repayment or Pay as you Earn (PAYE).

 

Notice: Recent legislative changes have suspended all federal student loan payments and waived interest charges on federally held loans until 09/30/21. Please carefully consider these changes before refinancing federally held loans, as in doing so you will no longer qualify for these changes or other future benefits applicable to federally held loans.

 

Auto Loan Refinance:

Automobile refinancing loan information presented on this Lantern website is from MotoRefi. Auto loan refinance information presented on this Lantern site is indicative and subject to you fulfilling the lender’s requirements, including: you must meet the lender’s credit standards, the loan amount must be at least $10,000, and the vehicle is no more than 10 years old with odometer reading of no more than 125,000 miles. Loan rates and terms as presented on this Lantern site are subject to change when you reach the lender and may depend on your creditworthiness. Additional terms and conditions may apply and all terms may vary by your state of residence.

Secured Lending Disclosure:

 

Terms, conditions, state restrictions, and minimum loan amounts apply. Before you apply for a secured loan, we encourage you to carefully consider whether this loan type is the right choice for you. If you can’t make your payments on a secured personal loan, you could end up losing the assets you provided for collateral. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on the ability to meet underwriting requirements (including, but not limited to, a responsible credit history, sufficient income after monthly expenses, and availability of collateral) that will vary by lender.

 

Life Insurance:

Information about insurance is provided on Lantern by SoFi Life Insurance Agency, LLC.

 

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