The Small Business Association has several programs that are designed specifically for veteran business owners. These programs are available to active-duty, retired, and transitioning military, including those who are service disabled. In addition, veterans’ dependents and survivors have access to these programs. These are a few veteran-owned business programs you may qualify for.

Government Surplus

Small businesses owned by veterans also have access to government property that is no longer used. The General Services Administration donates this property and oversees the program. Federal personal property is allocated to the states so that it can be donated to your business. You can visit your State Agency for Surplus Property to learn about the assets that are available.

To receive these donations, your business address must be in the state. In addition, you and other veterans must have full ownership of the company. The assets need to be used in your business. You cannot sell or lease them, and they cannot be disposed of for a specified period of time. The assets also need to be used within one year of their donation, and the government needs to be allowed to inspect your business and the property you received.

Federal Contracts for Disabled Veterans

If you already own a business, the federal government has a program that gives priority to your company when bidding on federal contracts. The government actually reserves a specific dollar amount of federal contracts for veteran businesses. For example, service-disabled veteran-owned businesses have access to at least three percent of federal contract dollars every year. However, veterans who were not wounded in the military also have a preference for federal contracts.

Because these contracts are reserved for companies owned by veterans only, competition is limited, so your chance of being awarded the contract is higher. The Department of Veterans Affairs (VA) has a list of available contracts and can help you with the paperwork and verification necessary to make a bid.

You must own at least 51% of the business, and it must be considered a small business based on the SBA’s definition. In addition, your disability must be the result of your military service. The VA also needs to verify that you are a veteran. The SBA will also provide you with guidance in your business operations and contract bids.

If you have a veteran-owned business or plan to open one up, check with the VA and SBA to learn about all the available programs that can increase your income.