What are economic development grants/loans and are they available to veterans?
Economic development grants or loans are typically provided by municipal, regional or state agencies that target specific areas for new business. These loans are sometimes also provided by private concerns. The best place to locate these types of financing are through your state’s economic development organization or through the Council for Urban Economic Development. In an effort to improve their local economies, most states, and many municipalities and counties, sponsor a variety of public funding sources for small business concerns. At the state level, nearly all states have some form of state economic development agency and/or state finance authority that make loans or loan guarantees to small businesses. State Commerce Departments often have direct or participating loan programs that may be even more attractive than SBA-guaranteed loan programs. See our State Pages for more information on your state. Also, don’t forget to check local colleges, universities, or trade schools to see
