Veteran Loan Fund Surpasses $100 Million—A Defining Moment for Veteran Entrepreneurship
The Veteran Loan Fund has surpassed $100 million in small business lending nationwide, marking a defining milestone for veteran and military spouse entrepreneurship in the United States. Since launching in 2021, the fund has supported more than 1,350 veteran-owned businesses, helped create or retain over 7,500 jobs, and strengthened local economies through mission-driven capital, technical assistance, and cross-sector collaboration. As momentum builds with a new round of funding in 2026, this milestone underscores the growing recognition that investing in veteran entrepreneurs is not just a moral imperative—but an economic strategy.
A major milestone in veteran economic empowerment was reached this fall as the Veteran Loan Fund (VLF) announced it has surpassed $100 million in small business lending nationwide, supporting 1,350 veteran and military spouse entrepreneurs and helping create or retain more than 7,500 jobs since launching in 2021.
The announcement, led by PeopleFund, the managing member of the Veteran Loan Fund, underscores the growing national momentum behind veteran-owned businesses—and the power of coordinated public-private investment in those who served.
“This milestone is not just about capital deployed—it’s about confidence restored and opportunity unlocked,” said Angel Shuford, President of National Invest In Veterans Week®.
“When veterans and military spouses are given equitable access to capital and coaching, they don’t just build businesses—they strengthen local economies. The Veteran Loan Fund’s $100 million benchmark proves that veteran entrepreneurship is not a niche issue; it’s a national economic force.”
From Capital Gaps to National Impact
The Veteran Loan Fund brings together a nationwide network of Community Development Financial Institutions (CDFIs) and technical assistance partners to address long-standing barriers veterans face when seeking startup and growth capital. In addition to lending, veterans receive no-cost business coaching and education, regardless of whether a loan is awarded.
One example of the Fund’s impact is Sanford Sourdough Bakery in Round Rock, Texas. After being declined by traditional lenders, founders Meriann and Dave Sanford turned to PeopleFund for financing—first to open their bakery, and later to expand equipment and facilities, fueling growth and local job creation.
In October 2025, PeopleFund—supported by VLF and in partnership with the Veterans Business Outreach Center at UT Arlington and the Veteran Women’s Enterprise Center—graduated the first cohort of its Military-Connected Small Business Accelerator, further strengthening the pipeline from service to sustainable enterprise.
What Comes Next
Building on this momentum, the Veteran Loan Fund has launched its third $15 million round of funding, expected to support an additional 300 veteran-owned businesses in 2026.
As National Invest In Veterans Week® continues to elevate policies, partnerships, and platforms that drive veteran economic participation, milestones like this reinforce a clear truth: investing in veterans is not charity—it is smart economic strategy.
Learn more:
Veteran Loan Fund: https://www.veteranloanfund.com
PeopleFund: https://www.peoplefund.org
National Invest In Veterans Week®: https://www.investinveteransweek.com
Veterans Don’t Need Handouts — They Need Capital: What Happens When Investors Treat Them Like Growth Partners
A recent House hearing revealed what happens when banks and corporations stop treating veteran-owned businesses as checkbox suppliers and start investing in them as long-term growth partners. Testimony highlighted how a private-sector program helped veteran and military spouse entrepreneurs raise more than $1.3 billion in capital, create hundreds of jobs, and generate sustained revenue growth—demonstrating that investing in veterans isn’t charity, it’s smart economic development.
“Demonstrate what is possible when banks and corporations invest in veteran-owned firms not just as suppliers, but as long-term growth partners.”
TL;DR — When Capital Meets Capability
A recent House hearing revealed what happens when institutions really invest in veterans: CEOs raised over $1.3 billion and created 656 jobs through a program that treats veteran founders as long-term growth partners, not token suppliers.
🔗 Full testimony: https://docs.house.gov/meetings/SM/SM00/20251210/118731/HHRG-119-SM00-Wstate-FoxM-20251210.pdf
When most Americans hear “veterans,” they think service, sacrifice, medals and memorials. But a federal hearing last month made something very clear: that’s not what veterans need to power the next economy. Capital is.
At a December 10, 2025 House hearing, testimony from the Institute for Veterans and Military Families (IVMF) dropped hard data on what happens when organizations invest in veterans’ businesses — and treat founders as true partners, not incidental suppliers.
The key line, delivered under oath:
“These results demonstrate what is possible when banks and corporations invest in veteran-owned firms not just as suppliers, but as long-term growth partners.”
This wasn’t an opinion. It was backed by numbers.
The program at the center of the hearing, CEOcircle, is powered by JPMorgan Chase and run by IVMF. It has guided 318 veteran and military spouse entrepreneurs through intensive business scaling cohorts since 2021. The output is stunning:
💰 $1.3 billion+ in capital raised by participating firms
📈 656 documented new jobs created
📊 More than half of participants report revenue growth tied directly to the program
🤝 9/10 gained advisor or mentor connections that continue beyond graduation
💵 One participant generated $50,000+ in new sales through cohort relationships alone
These are not small-business giveaways. These are growth engines.
What CEOcircle did was simple in concept — treat veteran entrepreneurs like investment opportunities and operational partners, not checklist vendors. The impact? Tangible growth, jobs, and new revenue streams.
Here’s the twist: banks and corporations don’t have to do this. Many treat veteran businesses as suppliers to fill diversity quotas or PR moments. But the IVMF testimony shows that when financial institutions treat veteran founders like long-term growth partners — with real access to capital, expert mentorship, and network opportunity — the results go far beyond goodwill.
This is exactly the kind of re-frame that powerful national observances like National Invest In Veterans Week® have been pushing for years — moving the country from thank you for your service to thank you for your economic contribution.
Veterans aren’t just a workforce demographic. They’re founders, innovators, and revenue generators.
This kind of investment model — where institutions partner with veterans for the long haul — doesn’t just help individual businesses. It reshapes local economies, creates jobs, and rewires stagnant entrepreneurial pipelines.
The House hearing made the case convincingly: you don’t need to invent new programs to “support” veterans — you simply need to invest in them the way you invest in high-growth companies.
And when that happens? The numbers speak for themselves.
Read the full 2025 hearing testimony
https://docs.house.gov/meetings/SM/SM00/20251210/118731/HHRG-119-SM00-Wstate-FoxM-20251210.pdf
National Invest in Veterans Week® Celebrates Passage of Service-Disabled Veteran Opportunities in Small Business Act
As part of this year’s National Invest in Veterans Week® (NIVW) celebrations, Congressman Brian Mast, a long-time advocate for veterans, has proudly announced the unanimous passage of the Service-Disabled Veteran Opportunities in Small Business Act in the U.S. House of Representatives. This landmark legislation, strongly supported by NIVW, aims to provide essential federal guidance for service-disabled veteran-owned small businesses, driving growth and fostering new opportunities for veteran entrepreneurs.
FOR IMMEDIATE RELEASE
Washington, D.C. – As part of this year’s National Invest in Veterans Week® (NIVW) celebrations, Congressman Brian Mast, a long-time advocate for veterans, has proudly announced the unanimous passage of the Service-Disabled Veteran Opportunities in Small Business Act in the U.S. House of Representatives. This landmark legislation, strongly supported by NIVW, aims to provide essential federal guidance for service-disabled veteran-owned small businesses, driving growth and fostering new opportunities for veteran entrepreneurs.
“Congressman Mast has been an unwavering advocate for veterans throughout his career, and his leadership in securing the passage of this critical legislation reflects our shared dedication to ensuring the success of veteran-owned businesses,” said Jeff Shuford, co-founder of National Invest in Veterans Week®. “The Service-Disabled Veteran Opportunities in Small Business Act ensures that our veterans, who have already sacrificed so much, have the resources and support they need to thrive in the business world and continue serving their communities in new, impactful ways.”
National Invest in Veterans Week®, recognized by Congress, is focused on promoting and empowering veteran entrepreneurs across the nation. This new legislation aligns directly with NIVW’s mission to amplify veterans’ voices and provide the tools necessary for a successful transition from military service to business ownership.
For more information about National Invest in Veterans Week® and how to support veteran-owned businesses, visit https://mast.house.gov/2024/3/invest-in-america-invest-in-veterans or contact.
Media Contact:
Lonnell McCall II
Spokesperson
info@investinveteransweek.com
(301) 453-2801
About National Invest in Veterans Week®
National Invest in Veterans Week® (NIVW), co-founded by Jeff Shuford, is a congressionally recognized initiative dedicated to supporting veteran entrepreneurs. NIVW amplifies the voices of veterans, promotes veteran-owned businesses, and advocates for policies that facilitate their seamless transition into civilian life.
About Jeff Shuford's Family Congressional Recognitions
Jeff Shuford was entered into the Congressional Record in 2024 for founding National Invest in Veterans Week®. His grandfather, Jim Freeman, a founding member of The Five Satins, was also honored in the Congressional Record in 2015 for his contributions to music and culture through the legendary recording of "In the Still of the Night." These honors reflect the family's lasting legacy of excellence and service across both veteran advocacy and the arts.
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National Invest in Veterans Week Celebrated Across the U.S.
National Invest in Veterans Week® (March 1-7) is an annual celebration dedicated to honoring the economic contributions of military veterans who have transitioned from service to entrepreneurship. The week provides an opportunity for the public to show their support for veteran-owned businesses by recognizing the leadership, innovation, and resilience veterans bring to the business community.
A video produced by Pfc. Jared Simmons of the 19th Public Affairs Detachment has been released, showcasing the importance of National Invest in Veterans Week and encouraging everyone to participate in this important observance. The video highlights the entrepreneurial spirit of veterans who continue to serve their communities through successful business ventures.
February 28, 2020 – United States – National Invest in Veterans Week® (March 1-7) is an annual celebration dedicated to honoring the economic contributions of military veterans who have transitioned from service to entrepreneurship. The week provides an opportunity for the public to show their support for veteran-owned businesses by recognizing the leadership, innovation, and resilience veterans bring to the business community.
A video produced by Pfc. Jared Simmons of the 19th Public Affairs Detachment has been released, showcasing the importance of National Invest in Veterans Week and encouraging everyone to participate in this important observance. The video highlights the entrepreneurial spirit of veterans who continue to serve their communities through successful business ventures.
The event was established to empower the public to celebrate veteran-owned businesses and their contributions to the U.S. economy. By supporting these businesses, the public not only honors veterans' service but also strengthens local economies and promotes innovation.
The video is available for viewing and download through the Defense Visual Information Distribution Service (DVIDS) platform, where it is shared for public use. National Invest in Veterans Week videos and related content can be accessed on DVIDS, and additional support information can be found on the platform.
About National Invest in Veterans Week®
National Invest in Veterans Week® was co-founded by Iraq War veteran Jeff Shuford and is recognized by Congress. It aims to celebrate veteran entrepreneurs, promote veteran-owned businesses, and advocate for policies that support veterans’ transitions from military service to civilian life. The initiative provides veterans with resources, platforms, and networks to help them succeed in the business world.
For more information, visit InvestInVeteransWeek.com or follow the conversation on social media using #InvestInVeterans.
Media Contact:
Chynelle Washington
Press Office
Email: info@investinveteransweek.com
Phone: (301) 453-2801
“I'm Beau, Emmy Award-winning journalist and television host.
Every year, from March 1st to 7th, we celebrate National Invest In Veterans Week—a time to honor the incredible men and women who've served our country and now drive our economy forward as entrepreneurs.
Veteran-owned businesses employ millions and generate over a trillion dollars in revenue. They're innovators, leaders, and job creators who deserve our investment.
Let's invest in them: Shop veteran-owned. Partner with veterans. Ask your local legislators to honor local veteran entrepreneurs.
Because when we invest in veterans, we invest in America's future.
Join the movement at InvestInVeteransWeek.com.
Thank you for your service—and a salute to those who are investing in it.”
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![Logo of The Reis-Davis Graduate School in Los Angeles, California, featuring a black circle with white initials 'RD GS' and a light blue border with the school's name.]()
Reiss-Davis Graduate School
“Reiss-Davis Graduate School recognizes National Invest in Veterans Week (March 1-7, 2023). We asked noted veterans advocate and editor-in-chief of the Journal of Veterans Studies, Mariana Grohowski, PhD, to share her thoughts on advancing the cause of veterans and their families.”
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![Purple and beige Purdue University logo with the text "Military Family Research Institute" below.]()
Military Family Research Institute
“The first week of March is National Invest in #Veterans Week, designed to support the efforts of veterans building lives for themselves and their families through their work and businesses.”
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EnergyUnited
“Today marks the final day of Invest In Veterans Week, and we want to take a moment to recognize the important work being done by Purple Heart Homes. Founded in 2008, Purple Heart Homes is a non-profit organization that works to provide housing solutions to veterans and their families who are in need.”
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![Cintas logo with the slogan "Ready for the Workday" in red.]()
Cintas Corporation
“It's National Invest in Veterans Week! At Cintas we are proud to be a Top Veteran-Friendly Company and are committed to recruiting military talent. For all the sacrifices they have made, we are dedicated to providing opportunities for Veterans to succeed.”
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![Logo for GCIA Gary/Chicago International Airport.]()
Gary/Chicago International Airport
“Happy #NationalInvestInVeteransWeek! Back in November, GYY received the prestigious HIRE Vets Medallion Award, an honor bestowed by the @USDOL for our efforts to create jobs that recruit, employ and retain veterans’ who have served our country!”
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![Logo with a bald eagle's head, the text 'ARMED FORCES' with a small American flag between the words, and 'vacation club' underneath.]()
Armed Forces Vacation Club
"#DidYouKnow it's National Invest In Veterans Week? National Invest In Veterans Week is observed every year from March 1 through March 7. This is a week where we support and honor aspiring and established veteran business owners!”
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![Columbia Gas of Ohio logo with blue text and an orange star-like symbol]()
Columbia Gas of Ohio
“We're proud to support our veterans, and especially those on our team! #InvestinVeteransWeek is a good reminder to invest in veterans after all they've invested in our country.”
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![Logo of the National Academy of Sciences featuring a woman holding a balance scale inside a gold circle.]()
National Academy of Sciences
“#DYK It’s #NationalInvestinVeteransWeek! In this touching #TheScienceBehindIt video, meet Ray, Casey, and Raymond as they share their coming home stories and talk about the challenges facing millions of veterans.”
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![Waubonsee Community College logo with a shield and sunburst design]()
Waubonsee Community College
“#Waubonsee is proud to serve those students who have served our country, and we'll do everything we can to streamline the process, start you on the right foot, and support your endeavors every step of the way. #NationalInvestInVeteransWeek”
