Suzanne Delaney ⋅ Nashua , NH The Entrepreneur's Source ⋅ 4 years experience

No grants, but now crowdfunding is an option through www.boostahero.com . Also, the IFA has recently started Operation Enduring Opportunity and a lot of franchises are waiving or discounting franchise fees. Vetfran is the best way to see who is doing what. You can also join us in Veteran2Entrepreneur on Linked In and Facebook, we try to push any and all relevant info out to our members as soon as we have it. You can also contact me to discuss your current situation and I'll see what other resources I can point you to.

James Mingey ⋅ Oregon City , OR U.S. Army, Sergeant ⋅ 2 years served

No, No on the grants, definitely think loans or equity.

Although the Patriot Express or any SBA guaranteed loan product can be useful, typically lenders will limit their participation to those franchises listed in the Franchise Registry. Be prepared to need a 700+ credit rating, 20-25% of total capitalization in cash and 1/3 to 2/3 in either equipment or real estate assets to back up the loan. It's easier to ask the same bank if they will do the loan on a conventional basis before going down the SBA route.

Arthur Glover ⋅ Silver Spring , MD AECOM ⋅ 11 years experience

Terrance. I don't know of any grants either. However, if you are considering investing in franchise, do it through VetFran. Franchises that participate in the VetFran program often waive certain fees and will ofter give you a reduced price on the franchise. www.vetran.com is the web site.
Best Wishes

Jim Wilson ⋅ Richmond , VA Wilson Law Group ⋅ 20 years experience

Terrance, there are no "grants" widely available for starting a small business. There is possibly some money available locally to assist start-ups that will create jobs in certain locations, for example, or for re-conditioning older, worn, commerical properties that might house your franchise. One of the best sources of money right now is the Patriot's Express SBA loan that is available only to Veterans and members of a veteran's family. You will need to contact any bank that does SBA lending and ask if they are doing Patriot's Express loans. Also, check with military credit unions. These credit unions have not traditionally done comercial lending, but in recent years have begun to do some business lending.