Veterans’ Pathway to Business Success “Veterans’ Pathway” Grant Committee thoroughly reviews each application. If eligibility and established criterion are met, the Grant Committee recommends funding. Grants are accepted, reviewed and awarded on a quarterly basis from November 1 to October 31. Grants received after a cycle has ended will be rolled into the next cycle. The grant cycle is as follows:
January 1 to February 15: applications accepted with awards in March
April 1 to May 15: applications accepted with awards in June
July 1 to August 15: applications accepted with awards in September
Veterans’ Pathway Board of Directors gives final approval for any grants awarded. Criteria and use of funds include creation or expansion of a business. The average grant awarded is in the range of $2,500 – $15,000.
Use of funds:
- specific start-up costs
- specific marketing/advertising/public relations project
- inventory purchase to fulfill/secure new contract(s)
- workforce build out
- working capital for specific expansion
Criteria in addition to eligibility requirements:
- compelling financials/business plan
- applicant’s experience/ references
- impact of funding on job creation
To be eligible for a Veterans’ Pathway grant, Veterans must complete an application for funding. Approval of funding involves a two-step process.
Upon receipt of a grant application which includes a complete business plan, the Veterans’ Pathway Grant Committee reviews the application. If the applicant does not meet Veterans’ Pathway eligibility requirements and/or grant criteria, a Small Business Administration (SBA) program, such as SCORE or The Small Business Development Center (SBDC), that can help the applicant, will be recommended so that they may re-apply.
If the business plan and criteria meet the Veterans’ Pathway eligibility and grant criteria requirements, an interview will be scheduled for the Veteran to meet with the Grant Committee. Additional documents may be required such as tax returns and other financial documents that would substantiate an existing business performance.
If the Grant Committee determines that the eligibility and grant criteria have been met, the application is forwarded to the Veterans’ Pathway Board of Directors for final decision on funding and disbursement.