Wisconsin Veterans Chamber announces partnership with StreetShares
Veteran-owned national lender takes leadership role to support Wisconsin’s veteran-owned businesses
MILWAUKEE – The Wisconsin Veterans Chamber of Commerce announced Monday their partnership with StreetShares, the veteran owned small business lending platform based in Virginia. The partnership will provide Wisconsin’s veteran entrepreneurs and business owners with access to StreetShares’ peer-to-peer small business lending marketplace that connects small business owners with qualified retail and institutional investors.
“We are excited to partner with StreetShares to offer veteran entrepreneurs and business owners the resources they need to be successful,” said Saul Newton, Executive Director of the Wisconsin Veterans Chamber of Commerce. “StreetShares is a national leader in lending to veteran entrepreneurs. Wisconsin’s veteran business community is fortunate to have them as partners.”
Generations of veterans have been leaders in innovation and entrepreneurship, but today’s veterans face barriers to success because of their military service. According to the Institute for Veterans and Military Families at Syracuse University, 49% of veterans in 1945 went on to own or operate their own business. Today, 25% of Iraq and Afghanistan veterans want to own their own business. Research from the National Veteran Owned Business Association (NaVOBA) shows that veterans are twice as likely to start their own business as non-veterans. However, while 30% of non-veteran owned businesses survive after 10 years, only 7% of veteran-owned businesses will meet this benchmark.
Chamber members will have fast access to small business loans at competitive. StreetShares can handle loan requests in range from $2,000-100,000 and can deposit funds in just a day or two. Also, every member of the chamber is eligible to open a Veteran Business Bond account with as little as $25 that earns interest at 5%. An unprecedented savings tool.
“Veterans are a critical part of Wisconsin’s business community and our state’s economy,” Newton concluded. “The fundamental truth is that our communities and state is stronger when veterans succeed. Thanks to partners like StreetShares, they have that opportunity.”
StreetShares is America’s veteran small business funding community. Veteran business owners get fast, affordable small business loans and meet investors and backers who support their business. Investors earn solid returns and back businesses they believe in. Membership is free and open to qualified small businesses and investors. StreetShares is veteran-run and located outside of Washington, D.C.
About Wisconsin Veterans Chamber of Commerce
The Wisconsin Veterans Chamber of Commerce is a nonprofit organization dedicated to supporting military veterans, veteran-owned and veteran-friendly businesses. The group advocates for Wisconsin’s veteran business community, and promotes economic opportunity for military veterans, military families, and veteran-friendly businesses.
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