Monday, September 14, 2015

G.I. Bill Proposal Would Help Veterans Receive Small Business Loans



A proposed change to the popular post-9/11 G.I. Bill would allow veterans to use their education benefits as startup collateral to start their own businesses.

"If we could do this, it would change the landscape for our veterans" who choose not to go to college, said C. Lynn Lowder, a retired major who was a Force Reconnaissance Marine in Vietnam.

Lowder formed 1 Vet at a Time, an organization built about one year ago to advocate for jobs and entrepreneurship for the 40 percent of current generation veterans who don't use the G.I. Bill's education benefits valued at about $186,000. He said he works with mostly junior enlisted troops -- "those PFCs, lance corporals, corporals, and young sergeants."

"They're focused, motivated and loyal to a fault," Lowder said. "They're trying to get their feet on the ground, feeling for zero," and they can be clueless on how to start a business. The problem for the young veterans with a business dream in most cases is that "there's no way to get a loan. The access to capital is a challenge," he said.

Lowder has teamed up with Marine Lt. Col. Joe Plenzler to devise a plan to modify the post-9/11 G.I. Bill to allow veterans to use the education benefits be used as collateral for a business venture.

Read more: http://www.military.com/daily-news/2015/03/03/gi-bill-proposal-would-help-veterans-receive-small-business-loan.html


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