The process of transitioning from active-duty military into a traditional business office setting is, for some, a daunting one. Luckily there is an option that marries procedure with technology, and those fundamentals result in something tangible. And edible.
Farming inside an upcycled, controlled-climate shipping container offers an environment rich with therapeutic benefits. It also provides the surrounding community with access to fresh veggies, ones that are grown locally by someone who takes great pride in their work. Building a indoor farming business, possibly by using a VA business loan for startup costs, is not just attainable, but it’s a practical solution for those who just can’t stomach a 9-5 grind in a stuffy office building.
VA business loans act as financial tools designed to assist veterans, active-duty service members, and, in many cases, their families in starting, growing or sustaining a business. While the U.S. Department of Veterans Affairs (VA) does not directly provide business loans, it collaborates with programs such as the U.S. Small Business Administration (SBA) to offer loan options with favorable terms for veteran entrepreneurs. One such option is the SBA Veterans Advantage Program, which provides fee reductions and competitive interest rates on popular loan types like the SBA 7(a) loan, used for working capital and equipment purchases, and the SBA 504 loan, intended for real estate and major fixed assets. Through these programs, veterans can access up to $5 million in funding.
Eligibility for VA business loans generally includes honorably discharged veterans, active-duty military personnel in the Transition Assistance Program, National Guard members, reservists, and military spouses, including those who have lost a spouse due to service-connected reasons. These loans offer several benefits, such as lower fees, flexible repayment terms, and access to capital for a variety of business purposes, including working capital, purchasing equipment, real estate acquisition, and even franchising opportunities.
To apply for a VA business loan, potential borrowers must prepare a comprehensive business plan that outlines their business model, financial projections and funding needs. Supporting documentation, such as proof of veteran status (e.g., DD-214 form), personal financial records, and business financial statements, is required. Applicants should identify participating lenders that offer SBA-backed loans and submit their applications for review. Upon approval, funds are disbursed for business use.
In addition to loan programs, veterans can access resources such as Veterans Business Outreach Centers (VBOCs), which provide mentorship, training, and guidance. Other financial assistance options include the Military Reservist Economic Injury Disaster Loan (MREIDL), which supports businesses affected by the deployment of essential employees. Some organizations also offer grants specifically for veteran entrepreneurs.
Those who are interested in exploring VA business loan options should research lenders and available resources to ensure the best fit for their business needs.
So, in short, fulfilling work after retirement from the military can be found inside a tech-assisted farm. For those who wish to explore purchasing a FarmBox and building a business around it, contact us for information that can help you put together a solid business plan.