There’s no other way to put it—for many military families, times are hard. Having a job as a milspouse looks different for everyone, but with fewer options due to federal government cuts, rising prices cutting into household budgets, and evolving needs involving national security, families are having to get creative. Fortunately, there are small business loans for military spouses​ available and the resilience of the community is fostering an intriguing ecosystem based on self-reliance.

How Small Business Loans Can Benefit Military Spouses

While local opportunities may exist, one of the greatest opportunities offering small business loans for military spouses​ comes right from the U.S. Small Business Administration (SBA).

SBA-backed loans are an easy way for milspouses starting small businesses to secure funding without the barriers they may face elsewhere.

For example, since milspouses are prone to moving every few years, some lenders may hesitate to invest in your venture; however, the SBA takes a different approach, providing your business with the capital you need.

Furthermore, because of PCSing, using state and local government assistance programs for capital can be difficult.

But leaning on the SBA allows you when starting businesses allows milspouses to secure a loan with competitive terms, flexible requirements, and there are even chances to receive training for your venture.

Best of all, milspouses are provided with the same SBA benefits as most active duty service members and Veterans when they apply.

From $500 to $5.5 million, SBA loans are prepared to help military spouses get the funding they need for their business.

The SBA Provides Milspouses With Small Business Loans

There are many different loans available, and by using the SBA’s Lender Match portal, you’ll be connected with lenders that meet your business needs.

Simply create your account and connect with lenders who can approve your loan while also managing it.

Keep in mind that the SBA won’t make a direct loan for small business owners unless there is a need due to recovery efforts involving a declared disaster.

Partnerships play a huge role in allowing the SBA to help more military families in their pursuit of starting and funding a business.

Training Is Also Available

Securing small business loans for military spouses​ is vital, but if you aren’t equipped with the tools to succeed, your venture could face a number of hardships and barriers.

Fortunately, in addition to providing milspouses with loans, the SBA is a great educational resource for your business.

Offering free training programs, these options are available in over 180 communities throughout the United States, meaning no matter where you’re stationed, chances are, there’s a Transition Assistance Program event near you.

The Military Spouse Pathway to Business program is also a great starting point, offering classes tailored specifically for milspouses who want to understand the basics of business ownership.

For business owners who have a bit more of a foundation, the SBA’s Boots to Business looks at the fundamentals of running a company, along with help on business plans and finding available resources. Best of all, it’s held on military bases.

Similarly, the Boots to Business Reboot program is open to milspouses of those who serve in the National Guard or Reserves through local community settings or online.

For military spouses looking to take things up a notch, there are specialized training options available thanks to partnerships with the SBA, including:

• Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE), which focuses on business and management skills for women in the military community and is available from the comfort of your home or in-person.
• The Startup Training Resources to Inspire Veteran Entrepreneurship (STRIVE) program offers a course at multiple colleges in the U.S. to provide milspouses with a structured, hands-on approach to learning.
• Finally, for milspouses that are part of the Native and Indigenous communities, ONABEN offers resources no matter which stage your business is in to equip you with the skills and tools you need for success. This program is available both in-person and online.

Note: Although separate from the SBA, if you’re looking for support, offering certification, resources, and connections to larger companies, the Military Spouse Chamber of Commerce is another great place to start.

Small Business Loans for Military Spouses and Modern Financial Support

Families across America are facing a variety of financial challenges, but the cost of living from city to city, state to state, can vary wildly.

While civilians have a bit of an influence on whether or not they live in a certain area, military families do not.

When PCS orders send you to a location with a high cost of living, it’s a burden milspouses face all in the name of sacrifice and duty.

For some, remote areas that may not have as high of a cost of living will still present challenges finding food, adding costs to transportation, and presenting other financial challenges not found in urban settings.

Then there are places like Twentynine Palms, California, where military spouses like Madie Chapman have found themselves living in a somewhat remote locale compounded by local economics that present a high cost of living.

Furthermore, where you live is going to play a big hand in the job market, yet another factor Chapman would learn first hand.

Facing few job opportunities in the remote desert town, Chapman launched C&O Gifts, creating themed gift baskets that bring comfort to others.

Similarly, fellow milspouse Emma Salazar turned her jewelry-making hobby into a full-time business, crafting handmade pieces from home while caring for her baby.

Stories like these are prime examples of self-reliance, the evolving financial needs of military families, and the community being built on and near bases across the United States.

Small business loans for military spouses are more than just capital for turning a dream into a reality, but are great ways to work towards greater financial freedom and a brighter future for your family.