Just as we stated in the narrative for the “Investment Fund”, the United States is still a capitalist country (though, without us and similar organizations, there’s no guarantee how long we will be able to make that statement) and small business drives our economy. The “Veteran and Member Business Incubator Fund” is a way of helping veterans, members of our organization, and, in turn, benefiting our organization.
If you’ve ever gone to a bank or other lending institution in order to get a small business loan, my guess is that many of you have gone away empty handed. And, even though veterans are supposed to receive preferential treatment and better terms in the process, it rarely works out that way (I speak from experience–after my military service, I’ve always had good jobs, great credit, and the drive to succeed but have been turned away repeatedly for not having enough capital). If you don’t currently have money on hand, ton’s of collateral, or some sort of private funding, in today’s lending environment, it is going to be nearly impossible to receive a standard business loan from a bank. How someone who has served in our low paying military is supposed to save enough capital to meet these bank requirements escapes me.
We feel we can remedy this situation–both to the benefit of our veterans, members, and the organization. Our goal is to organize this endeavor as a charitable organization, allowing members and others who donate to claim this on their taxes as a write-off just as they would for funds donated to any other tax exempt organization. Any funds donated to this will be utilized as business loans to veterans and members of our organization. The process to receive these funds will be a much simplified version of your typical loan application. However–and this is a big HOWEVER–we are not going to throw these funds away on just any business idea; any proposed business plan will need to be feasible to get approved for funding. We will assist you in the entire process, to include providing assistance in determining how feasible the business plan is for the locale where it will be opened (this is where our organization will need volunteers/employees, located across the country, who have experience in various businesses and who can function as subject matter experts in these situations).
If our experts determine the business plan justifies funding, chances are very good that funding will be made available to you.
Of course, just as with a typical bank loan, these funds will have strings attached: they will need to be repaid (but they will be interest free loans). Additionally, for the consideration for funding, the providing of subject matter experts to help in insuring the success of your business, and the ongoing support (if needed), any person receiving funding will be required to pay an ongoing three percent (3%) “franchise fee” (for lack of a better term) on gross revenue back to the Second Continental Army. This three percent franchise fee will be deposited back into the Veterans and Member Business Incubator Fund so that we may continue to assist others.