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Military Veteran Entrepreneurs - Small business loan comparison tool launched by nonprofit

Posted by Michael Horn on Fri, Jul 08, 2016 @ 09:30 AM

Kent Hoover, Business Chronicle Washington Bureau Chief, passed on some excellent information here. Veterans and transitioning military considering entrepreneurship need as many sources of funding as possible. Here is an excellent tool for finding funding. This is a valuable sourcing tool to use in Module 6 of the Entrepreneurship for Trainsitioning Military Program. Remember that funding for your business opportunity is available to veterans and transitioning military. The challenge is finding the sources that are right for you.

Hoover writes---A nonprofit organization has launched a loan comparison tool that’s designed to help small businesses get the type of financing that’s best for them.

Venturize is an online platform created by the Opportunity Finance Network, a Philadelphia-based national network of community development financial institutions that focus on helping entrepreneurs in underserved communities. The site includes information about the borrowing process for small businesses, and an interactive calculator that points borrowers to types of loans that best fit their situation. The site doesn’t offer loans itself, recommend specific products, or take advertising from lenders.

“Venturize was created to ensure small business owners across the country can find fair and affordable loans from responsible lenders that will help them keep their doors open, the lights on, and their customers happy,” said Miti Sathe, senior vice president at Opportunity Finance Network.

Small businesses owned by women and minorities “have historically faced barriers to securing lending capital and are disproportionately impacted by predatory online loans that can have devastating effects,” Sathe said.

Sam’s Club funded Venturize as part of its initiative to help more small businesses access capital. The new platform “will be an important resource for small business owners navigating the borrowing process to grow their business,” said Julie Gehrki, senior director of the Walmart Foundation.

Topics: Resources, Vets, Loans, Entrepreneurship, startups, vetrepreneur, VetToCEO.org