Veteran Business Project guides heroes in entrepreneurship
- A nonprofit offers veterans mentorship and resources needed to start a business
- Veterans can match with existing business owners through a “V-Harmony” model
- "We put people in business," said Lynn Lowder, the nonprofit's CEO
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CHICAGO (NewsNation) — The Veteran Business Project has helped hundreds of our nation’s former military personnel grow their small businesses after they leave the service.
The nonprofit provides veterans with the mentorship and resources they need to succeed when growing their businesses.
Lynn Lowder, co-founder and CEO of the Veteran Business Project and also a Vietnam veteran, said the organization established a business model called “V-Harmony,” in which veterans and military spouses that want to become small business owners can match with existing business owners who are looking to divest in their businesses. The business model was modeled after the famous eHarmony dating site.
Lowder said there are about seven steps in the process, starting with looking for the business and going all the way through buying and selling the business.
“We establish a one-on-one relationship between the veteran or military spouse and a seasoned, experienced entrepreneur who’s done exactly what it is that they are looking to do,” he said.
Lowder explained that veterans have a history of starting successful businesses after their time serving the country. Two businesses successfully supported by the nonprofit include Chicago Fire Boat Tours and Korner Beehive, located in Villa Grove, Illinois.
The nonprofit, said Lowder, has been principally self-funded by the co-founders, including himself and Dale Eisenberg. However, this year, the Veteran Business Project received a $1 million donation from the Duchossois Family Foundation.
To learn more about the Veteran Business Project, visit their website here.