Veteran grows business with help of SBA loan
As has been noted previously on this blog, veterans already possess many of the attributes that also make for successful small business owners. Therefore, whether it's to fulfill the desire to be their own boss or to take alternative career path, becoming a small business owner can be a great move for many veterans.
A recent article from outlet LocalSYR.com tells the story of how U.S. Army veteran Bob Hulchanski started his own business. Hulchanski was able to start Lakeside Innovate Technologies in 2006 by obtaining a Patriot Express Loan from the U.S. Small Business Administration (SBA). As the article details, this type of loan is no longer available from the SBA, but there are other ways for veterans to obtain funding for their ventures. The SBA now offers a program called the Veterans Advantage Loan Program.
The article goes on to explain the success that Hulchanski has been able to find by using the loan program. Over the past eight years, Lakeside Innovative Technologies has expanded to include 13 employees. With help from the loan he received, he was able to move into a large warehouse where more than $2 million worth of machinery is used to make the company's products.
Loans are certainly an important consideration for those looking to bring a business idea to life. However, there are other resources available to help veterans achieve their small business dreams. CorpCo recognizes the potential that veterans have and is a proud partner of the Whitman School of Management at Syracuse University, home of the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV).
With the help of organizations like the SBA and EBV, veterans can take one step closer to achieving their entrepreneurial dreams. CorpCo is here to assist with every aspect of incorporating your business.