We'd like to give a big shout out to the National Veteran Owned Business Association (NaVOBA) for featuring StreetShares and our CEO Mark L. Rockefeller on the cover of this month's Vetrepreneur Magazine. StreetShares is proud to partner with NaVOBA, whose mission is creating opportunities for our nation's veterans who launched their own businesses after leaving the military.
In the article, the author states that a recent NaVOBA poll for Vetrepreneurs (Veteran Entrepreneurs) revealed that access to capital is the biggest business concern for 63% of small business owners. Our aim at StreetShares is to change that:
“The reason we started StreetShares is basically my own experience coming back from Iraq and realizing that the capital wasn’t there,” Rockefeller said. “We also realized that we had a certain skill set that could bridge that gap.”
Mark saw an opportunity to put working capital into the hands of today's vetrepreneurs, who make up one in nine small business owners:
"StreetShares creates a marketplace where small business owners share their stories with investors. Companies seeking funding fill out an application to pitch their business and, if approved, they are placed in an auction that usually lasts between three and seven days. Then, investors decide which business to invest in and the repayment terms they want. If the loan application is approved, StreetShares co-invests."
We proudly fund veteran-owned small businesses who are at least one year in business, incorporated or a single member LLC, and earning revenue:
"'We’re like Shark Tank meets eBay,' Rockefeller said. 'For a veteran-owned business, it costs them nothing to go on StreetShares and pitch for a loan. They get to pitch and see what investors think of their loan request. Then, they’re given a loan offer that they’re not obligated at all to accept and they can prepay it without penalty."
Interested in learning more about funding capital for your small business? Visit www.StreetShares.com
To subscribe to NaVOBA's Vetrepreneur Magazine, visit www.navoba.com