StreetShares Blog - The Resource Center for Veteran Small Businesses

StreetShares Blog

The Resource Center for Veteran Small Businesses

Topics

Shauna Vo Pulayya, Director of Content Marketing

Recent Posts

How to Read an OnDeck Loan Offer and Prepayment Discount Fine Print



Not everyone has enough time to apply for a traditional bank or a SBA business loan or can pass the stringent underwriting criteria. So, many veteran business owners turn to online lenders who make it quick and easy to get business funding. However, small business lending doesn’t have near as much regulation as mortgage or student lending. So, some lenders find ways to explain their terms that may be confusing to any small business owner. Understanding the terrain of business loan offers is a challenge and we want to help you discern the differences and the fine print.

A few weeks ago, we provided loan calculators that presented the true cost of capital for a Kabbage loan offer. Today, we’d like to do the same for an OnDeck business loan offer as well as help you understand their prepayment charges.

OnDeck Loan Offers

Annual Percentage Rate (APR) is the main number you’ll want to look at to understand the true cost of capital. The APR takes every fee into consideration, including the factor rate, interest rate and other fees, and calculates it into a complete annual calculation.

Read More

Highlighting Our Heroes, Featuring StreetShares Members with iHeart Media

Honoring our veterans, active duty military service members and their families who support them is something we do every day at StreetShares. Now, together with iHeart Media, we’re ‘Highlighting Our Heroes’ through a campaign featuring 25 exceptional StreetShares members. We’ve partnered with iHeart Media to tell stories over the next few months of our members, including veteran and military spouse business owners, military members, veterans and families who support them.

As a veteran-owned and veteran-run company, we’re dedicated to serving veterans through our financial solutions such as veteran business loans, the Patriot Express* Line of Credit, and government contract financing.

“Veterans, military service members and their families sacrifice for our country. We’re honored and humbled to help share their stories through the ‘Highlighting Our Heroes’ campaign with iHeart Media,” said Mark Rockefeller, CEO and Co-Founder of StreetShares and Iraq war veteran. 

Tune in to BIG 100 in the Washington, DC metro region each weekday at 5:00pm EDT or stream online at iheartmedia.com to hear stories of our veterans, service members and military families. You can also subscribe to the StreetShares blog to be the first to know who we’re featuring or visit highlightingourheroes.com to see who's featured.

Read More

April 2017 Veteran Small Business Award Finalists

The Veteran Small Business Award continues! We have 10 great veteran business owners with very unique companies from 3D printing, recruiting services to children’s technology enrichment programs. Take a quick peak at the finalists below and remember to cast your vote on the StreetShares Foundation voting page. Vote now and help three veteran business owners get grant funding.

Read More

StreetShares Foundation Dedicates May to Military Spouse Business Owners

May 12, 2017 is Military Spouse Appreciation Day. On this day, Americans celebrate the backbone of the families who support our military service members during mission, deployment and reintegration.

The StreetShares Foundation is dedicating the full month of May to appreciate Military Spouse business owners through the Veteran Small Business Award. Military Spouses have a unique position as business owners. We’re looking forward to rewarding three exceptional Military Spouse business owners with $5,000, $3,000 and $2,000.

For the month of April, we will be accepting applicants from ONLY Military Spouse business owners. Eligibility requirements are the same, except you must be married to a member of the military, reserves, National Guard, or a veteran of these services and must prove it. To get started, download the ebook exclusively designed to give Military Spouse business owners resources to help them get started and to grow, all in one place. Then, apply with a 300-word summary of your business and a short video.

>> CLICK HERE TO APPLY <<

Read More

Veteran Business Grants Awarded $10,000 in March 2017

The March 2017 Veteran Small Business Award recipients are here! It was a very tight competition. Thank you to all of the finalists for your efforts and remember you can always apply again if you didn’t win this time. The goals of the StreetShares Foundation are to inspire, educate and support veteran business owners. Now, let’s get inspired by three impactful and exceptional veteran-owned businesses.

1st Place: Tom Cox, Army Veteran, CEO and Co-Founder of Candl, $5,000 (Atlanta, Ga.)

2nd Place: Brian Wood, Army Veteran, CEO of Good Shepherd Defense and Training, $3,000 (Morton, Ill.)

3rd Place: Charles Miller, Army Veteran, Founder and Designer of Charles Miller Brand Denim, $2,000 (Washington, DC)

Read More

Military Spouse Business Owner Interview: Fred Irwin of Her Corner

There are nearly 9.1 million women-owned businesses in the United States employing almost 7.9 million people and generating more than $1.4 trillion in revenues, according to, “The State of Women-owned Businesses Report,” by American Express OPEN. These numbers are growing as are the numbers of women enlisted in the military, female military spouses and the number of women veteran- and military spouse-owned small businesses.

We had a chance to sit down with Frederique Irwin, Founder and CEO at Her Corner and former military spouse. Her Corner is a membership community of women business owners who collaborate to grow their businesses. Her Corner provides in-person educational programs and an online community of resources and support. Frederique, or Fred, told us about her experience as a military spouse, how she started several businesses and is now running a very successful business accelerating growth for other women-owned businesses.

Read More

March 2017 Veteran Small Business Award Finalists

We’ve got another month of amazing veteran business owners to present as finalists for the Veteran Small Business Awards. Here’s a quick overview of the finalists, but as always, please vote for your favorite veteran small business at the StreetShares Foundation voting page. Some of these veteran-owned small businesses have just begun their entrepreneurial ventures and this could be their first veteran business grant or business funding. Help three of them win up to $5,000 this month to go toward their company and to continue to support the veteran and military community.  

Read More

Spotlight Veteran Business: Q&A with Government Contractor Terra Ferma

One of our long-time government contracting customers has seen a lot of changes since he won the Commander’s Call Award, now renamed the Veteran Small Business Award, back in 2015. Military service teaches many life lessons, including the value of taking the initiative: when you see a problem, you seek to solve it. Dennis Roark, Army Space Command veteran and President of Terra Ferma, took this approach several times throughout his career and entrepreneurial business ventures. With a broad background in telecommunications, he saw that his customers needed better, cost-effective power systems in place as well. We had the chance to catch up with Dennis and learn about his accomplishments in the energy industry and government contracting space.

Read More

StreetShares Foundation Rewards Veteran Business Owners with $10,000

Inspirational and life-changing organizations continue to dominate the competition for the Veteran Small Business Awards. The finalists put up a good fight for the most votes. Thank you to all of the applicants, finalists and voters for your participation in the third round of awards. The StreetShares Foundation aims to not only provide these cash awards but to also be an inspiration and educational tool for other veteran small business owners.

This week is National Entrepreneurship Week. The StreetShares Foundation and StreetShares, Inc. celebrate entrepreneurs every week because of our focus on small businesses across the country. Today is the perfect time to celebrate and announce the winners of the February Veteran Small Business Awards. We announced the winners at the Bunker Labs DC Muster event on Facebook Live. 

1st Place: Brian Zimmerman, Marine Veteran and Founder of Income Designers

2nd Place: Richard Sanders, Army Veteran and CEO of SHplates

3rd Place: Jaime Velez, Army Veteran and Co-Founder of PingMomo

Read More

Veteran Business Award Finalists Announced at Governor McAuliffe’s Visit

We’re kicking off the third month of the Veteran Small Business Award program with a bang. Today, Virginia Governor Terry McAuliffe visited the StreetShares office to announce his new initiative for the Virginia Values Veterans (V3) Program.

Read More