Illinois Veteran Business Assistance Programs
Illinois veteran entrepreneurs access SBA Veterans Advantage loans, state veteran business certification, and entrepreneurship training programs.
SBA Veterans Advantage Guaranteed Loan Program
Illinois has a large veteran-owned business community utilizing SBA programs.
What it provides: Reduced-fee SBA loans for veteran-owned businesses
Assistance: Reduced or waived guarantee fees saving thousands on borrowing costs.
Eligibility: Fee waivers on SBA 7(a) loans up to $5 million for SDVOSBs.
Who may qualify:
- Veteran-owned small businesses in Illinois
- Businesses 51%+ owned by veterans
- Service-disabled veteran-owned businesses
Requirements:
- DD-214
- Business financial statements
- SBA lender application
How to apply: Apply through SBA Preferred Lender; disclose veteran ownership.
Official source: SBA Veterans Advantage
Illinois Veteran-Owned Business Certification
Illinois state agencies consider veteran-owned status in procurement.
What it provides: State certification for veteran-owned businesses seeking government contracts
Assistance: Bid preferences and access to veteran set-aside contracts.
Eligibility: Honorable discharge required; certification enables procurement preferences.
Who may qualify:
- Businesses 51% owned by honorably discharged veterans in Illinois
- Active and operational ${s} businesses
- Businesses registered with the state
Requirements:
- DD-214 and ownership documentation
- State business registration
- Application through state procurement office
How to apply: Apply for certification through Illinois state procurement vendor system.
Official source: IL Veteran Business
Boots to Business
Illinois military installations host regular Boots to Business sessions.
What it provides: Entrepreneurship training for transitioning service members
Assistance: Entrepreneurship fundamentals and business plan development.
Eligibility: Two-day course plus optional online follow-on.
Who may qualify:
- Transitioning active duty in Illinois
- Veterans and military spouses
- Participants at military installations
Requirements:
- Registration for course
- Completion of curriculum
- Access to SBA resources
How to apply: Register through SBA at participating military installations.
Official source: SBA Boots to Business