Veteran-owned businesses represent roughly 6% of all businesses in the United States, with approximately $950 billion in combined annual revenue. The highest concentration of veteran-owned businesses is in Colorado Springs. These businesses create jobs and serve an important – and growing – role in the economy. Yet despite the strong numbers, veteran-owned businesses in Colorado Springs face challenges when trying to get the right financing to meet their needs.
Traditional Lenders and Local Businesses
Traditional lenders understand banking, debt, credit ratings, and bottom-line numbers. That is their field, so they cannot be faulted for not understanding the needs of small business owners, especially in Colorado Springs where the economic landscape is different from anywhere else in the country. They do not understand that local businesses need tailored solutions, as opposed to rubber-stamped loans with high requirements. Additionally, banks and similar lenders do not understand the unique journey of veterans who are trying to launch or grow companies in the private sector. We also listen to our clients to understand their vision, so we can put together a customized strategy to help veteran business owners reach crucial milestones.
Veteran-Owned Businesses Need Customized Solutions
Most veterans who are looking to become business owners do not have a background in financing. Business funding options go beyond traditional bank loans. 18 Sierra Financial specializes in working with veteran-owned businesses to provide customized solutions. Many of our offerings do not place debt on the books or require perfect credit, so veteran-owned businesses can get the financing they need without taking on unnecessary debt or lowering their credit ratings.
Finding Financing and Guidance in Colorado Springs
18 Sierra Financial is a veteran-owned firm committed to providing accessible funding to businesses throughout Colorado Springs. From established veteran-owned businesses to those pivoting from the military to launch their own companies, our team of former Green Berets will offer the guidance necessary to ensure success at every step. Whether you need working capital, equipment, cash flow solutions, commercial real estate, or something unique, contact the professionals at 18 Sierra Financial today.