When active United States Armed Forces personnel reach the end of their military careers, it can be daunting to think about what comes next. For many, the military is all they’ve known. They might start to wonder what the next step in their careers will look like and maybe even how to get a veteran small business loan to set them up for success.
At PuroClean, we believe the property damage restoration industry is one of the best veteran franchise opportunities on the market today! We give veterans the chance to use the skills they’ve learned and developed in the military in a different way that still helps their communities. Through our PuroVet program, we not only offer military veterans a discount off their franchise fees, but also provide industry-leading training and support that empowers them to lead boldly and work together to serve our clients with professionalism, ethics and compassion.
Why Veterans Thrive in the Restoration Industry
Restoration businesses like PuroClean are some of the most veteran friendly franchises out there because veterans are used to working hard, thinking on their feet, making quick decisions and caring for people in times of crisis. They care about their communities and are always looking for ways to give back. When they get involved in the damage restoration industry, these skills are a huge asset as they help residential and commercial property owners deal with incredibly stressful situations.
At PuroClean, we’ve been recognized as one of the best franchises for veterans by Entrepreneur magazine, the Military Times and Franchise Business Review. Currently, one in every seven of our Franchise Owners are military veterans. Through PuroClean, they have the chance to continue leading teams and serving their communities while also enjoying a measure of freedom that other jobs can’t match.
PuroClean’s veteran franchise discount is a big factor, too. Through our PuroVet program, we offer military personnel a 25% discount off the initial franchise fee! PuroClean is also a 5-Star member of VetFran, an organization devoted to helping veterans transition into franchising.
Veteran Small Business Loans
Many former military personnel get at least some of their veteran franchise funding through the Small Business Administration’s Office of Veterans Business Development (OVBD), which promotes veteran entrepreneurship and facilitates SBA programs for veterans. The OVBD also guides veterans on running their businesses and can link them to federal procurement and commercial supply chains.
To qualify for a business for an SBA veteran loan, a business must be majority-owned — that is, a 51% stake or higher — by a military veteran or their spouse. This can include:
- Active-duty members in the Department of Defense’s Transition Assistance Program
- Honorably discharged veterans
- Service-disabled veterans
- Reservists or active National Guard members
- Current spouses of veterans, active-duty members, reservists or National Guard members
- Widowed spouses of service members who died in service or from a service-related disability
To apply for an SBA veteran loan, you’ll have to fill out an application form and provide other documents that prove your status as a veteran and the time you served in the military. You’ll also have to submit a business plan, financial statements and information about taxes, business ownership and licenses and certification. Veterans will also have to provide a DD214 form or its equivalent for the application to move forward.
How to Obtain Your DD214
A DD214 form is another name for the Certificate of Release or Discharge from Active Duty, also called a Report of Separation. It lists the member’s type of discharge, the reason for the discharge, the last duty assignment, any medals or decorations earned and any wounds received in the course of service, among other information.
Requesting your DD214 is a straightforward process. You can fill out an online request on the U.S. Department of Veterans Affairs website or you can download a form that you can send in by mail or fax.
Simply having a DD214 doesn’t mean you’re a veteran, though. There are laws and regulations that define what a veteran is. Some people who have served but don’t meet those requirements can still get a DD214 form.
To legally qualify as a veteran, a military service member must have:
- 180 days of consecutive active duty (not counting training); or
- One day of active duty in a combat zone during a period of war or in a campaign for which a badge was authorized; or
- 20 years of service in the National Guard or Reserves, retiring under honorable conditions.
If you’re ready to find out more about how to get a veteran small business loan and set yourself up for success after your military career with your very own PuroClean franchise, get started today by downloading a FREE franchise kit!