Trump funds pilot program for military veteran small-business owners

PRESIDENT DONALD TRUMP provided $100,000 from his 2018 salary to fund a new training program for military veterans to grow their small businesses. / BLOOMBERG NEWS FILE PHOTO/AL DRAGO

PROVIDENCE – The U.S. Small Business Administration is partnering with the Veteran Entrepreneurial Training and Resource Network to establish a pilot training program for military veterans who are small-business owners and their immediate families.

An award of $100,000 from President Donald Trump’s salary from the second quarter of fiscal 2018 will fund the program, the SBA said.

The program is intended to equip veteran entrepreneurs with resources and networks needed to grow their businesses.

Starting in September, the 26-week program based in Portsmouth, N.H., will feature 13 weeks of Saturday morning classroom sessions with 12-20 participants, as well as 13 weeks of peer-to-peer mentoring sessions.

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The course curriculum will include strategic planning, financial management, cash flow forecasting, marketing a small business, sales methods, human resources, developing a growth plan, access to capital, legal issues, and government contracting.

Applicants must be a current business owner with at least one year of operation and one employee, not including the owner, and with annual revenue of $75,000 or more.

“While programs exist that help veterans start their small business, there is a critical need for programs that assist existing business owners with growing their business,” said SBA Acting Administrator Chris Pilkerton. “Adding VETRN to the SBA resource network will enable us to fill this gap and empower veterans with the training, mentorship, tools and network they need to achieve their long- term goals.”

Veteran business owners seeking more information or wishing to apply for the September program should visit the VETRN website to complete an application, or send an email to info@vetrn.org.

Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.