VAMBOA and MilitaryConnection.com Join Forces With StreetShares To Fund Veteran Owned Small Businesses
The Veteran and Military Business Owners Association (VAMBOA), MilitaryConnection.com and StreetShares are working together to secure capital for growing veteran owned businesses.
The Veteran and Military Business Owners Association (VAMBOA) and MilitaryConnection.com today announced their partnership with peer to peer small business lender, StreetShares, to further enable veteran business owners to secure growth capital for their businesses.
StreetShares recently secured $200 million to fund veteran businesses, the largest private funding commitment to veteran businesses in U.S. history. The VAMBOA and MilitaryConnection.com partnership with StreetShares includes joint marketing provisions, educational content sharing and referral agreements, with the goal of providing Veteran business owners access to capital. StreetShares also recently announced a monthly $5,000 award to qualifying veteran-owned businesses though it’s Commander’s Call Program. All VAMBOA members and MiltiaryConnection.com users who apply for a loan will be automatically considered for this $5,000 award.
“We know that given the current economic climate, strict lending regulations make it nearly impossible for small businesses to secure funding, leaving them with very few options,” MilitaryConnection CEO and VAMBOA founder Debbie Gregory said. “With StreetShares’ focus on veterans, and their ‘outside the box’ approach to lending capital, our affiliation should prove to be extremely beneficial to our membership and our users.”
Founded by Iraq War Veteran and former finance lawyer, Mark L. Rockefeller, StreetShares is a marketplace for small business loans, with a particular focus on funding veteran entrepreneurs. On StreetShares.com, small business owners pitch their business directly to investors, while retail and institutional investor members place bids to fund a portion of the loan.
“At StreetShares, our goal is to fund the next great generation of small business owners,” StreetShares CEO Mark L. Rockefeller said. “We believe military veterans-turned entrepreneurs will lead the way, which is why we’re thrilled to partner with VAMBOA and MilitaryConnection in their vision to equip and train veterans to succeed in business and in life.”
VAMBOA is a 501(c) 6 non-profit organization that provides its members with knowledge of government provisions that help service-disabled veteran business owners, Veteran business owners and military business owners. VAMBOA’s mission is to help drive the success of these veteran business owners by connecting its members to contacts within large corporations and government agencies for mentorships and contract opportunities.
MilitaryConnection.com offers one of the most comprehensive directories of military and Veteran resources on the web, focusing on employment and education. Military Connection has been named a Top 100 Employment Web Site by the International Association of Employment Web Sites for five years and its focus on employment garnered its prestigious Weddle’s Users Choice Awards for 2015.
StreetShares is an affinity-based small business lending marketplace that connects small business owners with qualified retail and institutional investors. Investors compete in an online auction to fund portions of the requested loan, and StreetShares combines the lowest bids into a single loan. StreetShares blends peer-to-peer lending with traditional banking. While open to all small business owners, StreetShares is veteran-owned and has a particular focus on funding veteran-owned business.