#United States #Austin #Military Spouses #PeopleFund #Veteran Loan Fund

Veteran Loan Fund Unveils New Accelerator

The Veteran Loan Fund (VLF), a national initiative of Community Development Financial Institutions (CDFIs), has announced an exciting development aimed at bolstering the entrepreneurial spirit among veterans and military spouses. This new initiative, the Veteran and Military Spouse Business Accelerator, seeks to provide crucial access to capital and comprehensive business support to military-connected entrepreneurs across the United States. The Accelerator is made possible with the backing of the Truist Foundation through a grant allocated to PeopleFund, Texas's CDFI member of VLF, allowing for nationwide expansion of this vital program.

Since its inception in 2021, VLF has successfully gathered around $30 million, which member institutions have strategically utilized to disperse over $110 million in small business loans, aiding more than 1,500 veteran and military spouse entrepreneurs. This effort has led to the creation or preservation of 8,000 jobs across the country, showcasing a substantial impact, particularly with nearly 20% of these achievements taking place in Texas.

Gustavo Lasala, the President and CEO of PeopleFund, expressed excitement about the Accelerator: "This Accelerator builds on the strong foundation created through the Veteran Loan Fund. By merging capital, coaching, and a national network of partners, we are creating a more effective pathway for veteran and military spouse entrepreneurs to launch, grow, and scale successful businesses."

What the Accelerator Offers

The Veteran and Military Spouse Business Accelerator employs an integrated model that offers a range of services including:

• - Business Education and Mentorship: Participants will benefit from structured learning and guidance.
• - Capital Readiness: Financial training to prepare entrepreneurs for funding opportunities.
• - Marketing and Operational Support: Enhanced tools for promoting businesses and managing daily operations.
• - Affordable Loan Capital and Grants: Access to essential funds, with successful program graduates eligible to receive up to $350,000 in loans and grants ranging from $3,000 to $5,000.

Participants will engage in a complimentary, eight-week program that integrates weekly lessons, structured assignments, one-on-one coaching, and complimentary access to LivePlan— a business planning and financial forecasting tool.

Upon completing the program requirements, entrepreneurs will receive ongoing technical support for up to three years and free entry into the Business Beyond Battlefield Conference at the National Medal of Honor Museum in Arlington, Texas, scheduled for October 2026.

This initiative is a collaboration with participant CDFIs and veteran-focused organizations, featuring contributions from the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC) and the Veteran Women’s Enterprise Center (VWEC), who are leading program instruction and content delivery.

How to Get Involved

Veterans and military spouses in Texas interested in participating in the Accelerator can apply through the PeopleFund website or by directly following this link. The launch represents a new phase of growth for the Veteran Loan Fund as it builds on a proven model of success. VLF is aiming to deploy an additional $15 million in loans and up to $1.5 million in grants over the next year, with plans to assist approximately 300 veteran and military spouse entrepreneurs.

About the Organizations Involved

The Veteran Loan Fund comprises an expanding network of CDFIs and technical assistance partners committed to empowering veterans and military spouses in their entrepreneurial endeavors. Current members include organizations from various states, each contributing to a robust support system for small business growth within military communities.

PeopleFund, operating since 1994, is a key player in this initiative, with a dedication to advancing economic opportunities for low- to moderate-income groups through capital provision, training, and diverse resources necessary for small business success. Over its 30-year history, PeopleFund has issued over 6,000 loans totaling more than $1.4 billion, aiding in the creation and retention of over 25,000 jobs.

Supported by the Truist Foundation, which promotes economic mobility and small business sustainability in communities, the Veteran Loan Fund aims to ensure a brighter future for veteran entrepreneurs as they navigate the complexities of starting and growing successful businesses.