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StreetShares Blog - The Resource Center for Veteran Small Businesses

StreetShares Blog

The Resource Center for Veteran Small Businesses

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Top 10 Most Influential Military Spouse Business Owners

By StreetShares on May 12, 2017

Life as a military spouse can be full of adventure, fun, new beginnings and discounts galore. It also can be full of uncertainty, sacrifice and self-reliance; moves are endless, friendships are constantly evolving, and children are uprooted. Unfortunately, the transitory nature of the military has an especially deep impact on spouse’s employment opportunities.

Recent statistics have shown more than 90 percent of military spouses are underemployed or overqualified for the jobs they currently hold, and salary for those jobs is 38 percent less than the civilian equivalent. Beyond that, unemployment among military spouses is extremely high at 26 percent, or three times higher than the national average. Hiring managers tend to look for longevity on resumes – one thing that military spouses cannot provide.

This year, May 12, 2017 is Military Spouse Appreciation Day. To memorialize this day we wanted to focus in on some incredibly influential military spouses who, through their successful businesses, have either worked to change the unemployment rate among military spouses or have simply found a way to defy the odds and have become influential through their admirable business models. We are excited to highlight these 10 amazing women as a way to show our appreciation for all they are doing in the military community and illuminate their own unique service to our country.

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May 2017 Finalists: Military Spouse Business Owners

In honor of the upcoming Military Spouse Appreciation Day on May 12, the StreetShares Foundation is dedicating its Veteran Small Business Award to Military Spouse business owners.

Military Spouses give a lot to our country by supporting their spouses while they serve locally or overseas. Military families may receive several Permanent Change of Station (PCS) orders over the lifetime of a military career. And military spouses are the backbones of those families. They’re the ones who are keeping the home and family running. This may be through caring for children, building their careers or starting small businesses.

The StreetShares Foundation recognizes Military Spouse business owners by including exclusively Military Spouse business owners in this month’s contest. Check out these amazing businesses and be sure to vote this month. Voting closes at midnight on May 25.

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April 2017 Veteran Business Grants Given to Veteran Business Owners

As we kick off National Military Appreciation Month the StreetShares Foundation is proud to announce the winners of the April Veteran Small Business Awards. These winners and veteran small business owners have a common business mission – to help veterans build their lives after leaving the military, whether it’s through a new therapy or working on an inspiring new idea. As veteran entrepreneurs, they’ve leveraged the veteran business community to help grow their small businesses through programs like the Bunker Labs, Entrepreneurship Bootcamp for Veterans (EBV) and through veteran business grants from the StreetShares Foundation. Without further ado, we are proud to announce this month’s winners:

First Place: Kendra Simpkins, Army Veteran, Owner/Clinical Practitioner at Sarasota Rapid Resolution Therapy (Sarasota, Florida)

Second Place: Eddy Mejia, Army Veteran, Founder/CEO of ShoeBoxOne (Chicago, Illinois)

Third Place: Maria Mayes, Army Veteran, Founder, Managing Partner at Morgan Veteran Recruiting Group (Tulsa, Oklahoma) 

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Highlighting Our Heroes: Military Spouse & Veteran Small Business Owners

It's week two of National Military Appreciation Month. This week is Public Service Recognition Week (PRSW) and today is Victory Day in Europe. Seventy-two years ago today, the world celebrated Victory in Europe Day as the Allies accepted the unconditional surrender of Nazi Germany. The veterans of World War II served their country both in uniform and as civilian leaders; 49 percent of veterans in this Greatest Generation would go on own to operate their own small business.

StreetShares works every day to power a "New Greatest Generation" taking on the challenge of leadership — Syracuse University reports that 25 percent of Iraq and Afghanistan veterans plan to start their own business in the next 10 years.

Let’s highlight five of the "New Greatest Generation" veterans and military community members in our ‘Highlighting Our Heroes’ joint campaign with iHeart Media. Tune in to BIG 100 in the Washington, DC metro region each day this week a 5:00pm Eastern or stream online at iheartmedia.com to hear their stories. Subscribe to the StreetShares blog to be the first to know who is featured each week at highlightingourheroes.com.

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Small Business Impact on the U.S. Economy & How Business Funding Helps

Do you realize how much our big economy relies on small business? As we celebrate National Small Business Week, let’s take a look at exactly how much small businesses impact the U.S. economy and more specifically how StreetShares small business owners and veteran business owners make an impact.

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Celebrating Small Business, Military Service and Veteran Entrepreneurs

It’s National Small Business Week and the beginning of National Military Appreciation Month! We’re honored to be associated with these two special celebrations and to get the Professional Services Innovator of the year award ourselves from the Greater Washington Innovation Awards.

At StreetShares, we recognize small businesses, military members and veterans every week as they are who we serve every day. The U.S. Small Business Administration has declared this week as National Small Business Week to highlight the impact of exceptional entrepreneurs and small business owners who fuel the U.S. economy by creating jobs and innovation. 

Senator John McCain designated May as National Military Appreciation Month. During this month, it’s encouraged for Americans to recognize U.S. service members. There are six national observance days to help everyone get involved.

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4 Secrets to Become a Successful Veteran Government Contractor

The U.S. Government constantly adjusts and grows as new needs arise with changes in technology and resources. As the nation's largest consumer, the government needs an army of contractors to support its massive consumption requirements. As a result, the benefits available through government contracts are abounding. Veteran contractors are perfect candidates to fill this growing landscape because of your previous employment by the government. You’ve also learned lessons, acquired tools, and made contacts from your military experience that could be valuable in the government contracting space.

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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.

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Earn 5% Interest While Helping Veteran Small Business

By StreetShares on April 19, 2017

Did you know that you can invest in small business loans even if you’re a ‘little guy’ retail investor? It’s true, you can.

Individual retail investors can back the small business loans we fund at Streetshares. Our investment product, called Veteran Business Bonds1, is open to retail investors thanks to our Regulation A+ offering, which is approved by the SEC.

StreetShares is the only company that allows unaccredited investors to invest in loans that help small businesses. You don’t have to be a veteran either. Any individual investor in the United States can participate.

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How Your Tax Refund Can Help You Score Better Credit

By StreetShares on April 12, 2017
If you’re getting a tax refund this year, you’ve got three major options when it comes to using the money: You can save it. You can invest it. Or you can splurge. But break things down a little further, and that check (back) from Uncle Sam can help you build credit, too. For serious.

Here are six ways your tax refund could help you build — or even establish — your credit scores.

1. Pay Down Credit Card Balances

Second rule of credit scores: Keep your debt level below at least 30% (and ideally 10%) of your total available credit. Anything beyond that is bad for your credit utilization ratio. If you’re over that limit or, worse yet, bumping up against your limits, putting your tax refund toward your credit card balances can help improve your credit score. Better yet …

2. Pay Off High-Interest Credit Card Debt

Because those balances are going to spike pretty fast. Plus, you’ll be saving money in the long run. Good rule of thumb when it comes to dealing with multiple credit card balances: Make all your minimums, but put more money toward either the smallest (because motivation) or the one with the highest annual percentage rate (because, like we said, it’ll cost you less). You can see how your credit card use is affecting your credit by viewing two of your scores, updated every 14 days, on Credit.com.

See also: How to Improve Your Personal Credit Score

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