Frequently Asked Questions

Most UTAVBOC services are free to all transitioning service members, veterans, disabled veterans, National Guard, reserve component members and spouses.

You may request UTAVBOC assistance if you are seeking information for starting or growing a business in North Texas, Oklahoma, or Arkansas; and if you are:

• An honorably discharged veteran
• An Active Duty Military service member eligible for the military Transition Assistance Program (TAP)
• An Active Reservist and/or National Guard Member
• A current spouse of any of the above, or a widowed spouse of a service member who died while in service or as a result of a service-connected disability

The first step is to REQUEST FREE ASSISTANCE FOR YOUR BUSINESS. by clicking the banner on the UTAVBOC Home Page.   The U.S. Small Business Administration requires all clients to register and complete the Request for Counseling form (Form 641), which also serves as our Confidentiality and Conflict of Interest Agreements (provided for your security).  Next, you will complete a brief intake process, including “3 Steps To Get You On Your Way” which allows UTAVBOC to better understand your business and assist you.

UTAVBOC is responsible for transitioning veterans, disabled veterans, National Guard, active and reserve component service members, and their spouses who are interested in becoming business owners in Arkansas, Oklahoma and Texas.  Although 85% of our advisors’ time is spent out of the office delivering the Boots to Business program, advocating for veteran resources and conducting outreach to create awareness of the program, advisors use technology (including email, text, TEAMS and other webEx tools) to communicate and assist you.  To connect with an advisor face to face, an appointment is required.  Reminder, the sooner you complete the “3 Steps To Get You On Your Way” intake process, the sooner you can receive direct assistance.  The 3 Steps intake process allow the advisors to better prepare for a productive interaction with you.  If you have completed the 3 Steps intake process, please contact us to follow up.    You may also contact other resource partners at SCORE,  SBDC, or the WBC.

In the meantime, the SBA Learning Center is a great place to begin. 

Please be advised, there are many unscrupulous people promoting information for a fee. The information at the SBA Grant/Lending Tool website is free. Thus, do not fall victim to someone selling you grant information that is freely available (http://www.sba.gov/loans-and-grants). In general, grants are for not-for-profit businesses. Currently, UTAVBOC is unaware of any specific grants for veterans to start or expand a for-profit business. However, for-profit businesses conducting research and development can apply for grants through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs at SBIR.gov. For general information on federal grants, please visit www.grants.gov.  NOTE: despite what you might learn through various misinformation sources, the government (federal, state and local agencies), including the Department of Veterans Affairs(VA) offers a wide variety of benefits and services to Veterans and military families; however, the VA does not provide grants or loans to start a business.

*Scam Alert** Please be cautious of and thoroughly investigate the legitimacy of any organization stating they can get you a grant.

The SBA does not typically offer direct loans (except in disaster situations) to small businesses.  The SBA does, however, serve as a guarantor for a loan that you receive through one if its many lending partners, i.e., similar to a co-signer.  Your UTAVBOC advisor can discuss small business funding options with you, including U.S. Small Business Administration loan guarantees.  Before you start talking to lenders, look at the abbreviated checklist below to see if you’re ready.

Competence and Industry Experience:  Industry experience isn’t required, but it’s helpful. Firsthand knowledge about your industry can give your lender confidence regarding your business and your loan request. The SBA does not typically offer direct loans (except in disaster situations).  The SBA does, however, serve as a guarantor for a loan that you acquire through one if its many lending partners, i.e., similar to a co-signer.  Your UTAVBOC advisor will discuss financing options available to you, including U.S. Small Business Administration loan guarantees.  Before you start talking to lenders, have a look at the abbreviated checklist below to see if you’re ready.

Business Plan:  Most lenders expect a business plan.  If you need to create one, talk with your advisor and learn more at sba.gov.

Amount & Use of Funds:  Know precisely how much capital you need, how it will help your business, and how you will pay it back.

Credit History:  Lenders use credit scores to determine credit risk and interest rates.  The SBA loan guarantee program helps mitigate some of the risk for the lender.

Cash Flow and Financial Projections:  Show you understand your business’ finances, how the funds will be used, and how you’ll pay back the loan.

Collateral:  Many lenders require you to use another asset to guarantee your loan. This can be a home, car, inventory, or other business assets.

You can simply self-declare if you, as the veteran, are the majority owner (51%).  You do this by stating it on your business cards, your email signature line, your website, social media or any documentation/collateral that has your business name on it.  However, if you are interested in doing business with customers that require you to be certified, i.e., the federal government or large corporations, there are specific entities that can assist you in getting certified, including our office, National Veteran Owned Business Association (NaVOBA), National Veterans Business Development Council (NVBDC), etc.  Visit the Veterans Small Business Certification portal at https://veterans.certify.sba.gov/ to begin the federal veteran certification process. 

Good news in Texas! Effective January 2022, the $300 LLC formation fee and five years of franchise taxes will be waived per Senate Bill 938 for Texas Veterans. This benefit waives the formation fee for new 100% veteran-owned business entities and relieves veteran-owned businesses of the Texas franchise tax for the initial 5-year period. Learn more

An entity’s name that reasonably implies that the entity is created by or for the benefit of war veterans or their families cannot include the words “veteran,” “legion,” “foreign,” “Spanish,” “disabled,” “war,” “world war”, or abbreviations thereof, without written permission from a congressionally-recognized veterans organization with a name containing the same word or phrase, or variation or abbreviation. If such a veterans organization does not exist, then consent must be obtained from the state commander of the: American Legion, Disabled American Veterans of the World War, Veterans of Foreign Wars of the United States, United Spanish War Veterans, or Veterans of the Spanish-American War. 

E-mail Bill West with the American Legion Texas Dept (billw@txlegion.org) and include the official business name and address that you are filing under. If approved, you will receive an approval letter to provide to the Texas Secretary of State. Learn more

Absolutely!  As long as the eligible member is present, business partners and team members may also attend.