Veteran Loan Fund launches Accelerator to boost Veteran and Military Spouse businesses
Major initiative supported by Truist Foundation
AUSTIN, Texas, April 7, 2026 /PRNewswire/ -- The Veteran Loan Fund (VLF), a national effort of Community Development Financial Institutions (CDFIs) advancing economic opportunity for military-connected entrepreneurs, today announced the launch of the Veteran and Military Spouse Business Accelerator, created to expand access to capital, training, and business support for Veteran and Military Spouse entrepreneurs across the country. The initiative is supported by Truist Foundation, through a grant to PeopleFund, Texas' member of VLF, to establish and scale the Accelerator nationally through VLF.
"At Truist Foundation, we believe small businesses are powerful engines of economic mobility. And within our communities, Veterans and Military Spouses bring extraordinary leadership, resilience, and ingenuity as they bring their entrepreneurial ideas to the table," said Lynette Bell, head of Philanthropy and president of Truist Foundation. "Through this Accelerator, we're proud to partner with the Veteran Loan Fund to expand access to capital, training, and support, helping participants turn their vision into thriving businesses and lasting economic opportunity."
Since launching in 2021, VLF has raised approximately $30 million, which member CDFIs have leveraged to deploy more than $110 million in business loans to 1,500 Veteran and Military Spouse entrepreneurs, supporting approximately 8,000 jobs nationwide and delivering more than 30,000 hours of free technical assistance. The launch of the Accelerator kicks off a new phase of growth for the Veteran Loan Fund. Building on a strong national momentum, this initiative seeks to deploy $15 million in loans and up to $1.5 million in grants among 300 Veterans and Military Spouses supporting 1,500 jobs within 12 months.
This Accelerator uses a coordinated model that delivers business education and mentorship, capital readiness, financial training, marketing, operational support, access to affordable loan capital and grants. Participants will complete a free, 8-week program combining weekly instruction, structured assignments, one-on-one business coaching and free access to LivePlan, a business planning and financial platform used to build plans, model projections, and track performance. Those who successfully complete all program requirements will receive ongoing technical assistance for up to three years, access to up to $350,000 in loan capital, a grant ranging from $3,000 to $5,000, and complimentary access to the Business Beyond Battlefield Conference at the National Medal of Honor Museum in Arlington, Texas in October 2026.
"This Accelerator reflects what's possible when mission-driven lenders and partners come together at a national scale," said Patrick Alcorn, Founder of the Business Beyond Battlefield Conference. The program is delivered in collaboration with member CDFIs and veteran-serving organizations, with the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC) and the Veteran Women's Enterprise Center (VWEC) leading the curriculum and content delivery. "Through this program, we are creating stronger, more accessible pathways for Veteran and Military Spouse entrepreneurs to build, grow, and sustain successful businesses," added VR Small, CEO of Veteran Women's Enterprise Center.
Veterans and Military Spouses can learn more and apply to participate in the Accelerator by following this link or by connecting with their nearest member CDFI.
About Veteran Loan Fund
The Veteran Loan Fund is a national effort of a growing number of Community Development Financial Institutions (CDFIs) and specialized technical assistance partners dedicated to helping Veterans and Military Spouses start and grow small businesses. Member CDFIs currently include Access to Capital for Entrepreneurs (GA), Ascendus (NY), Appalachian Community Capital (VA), BBIF (FL), Business Impact Northwest (WA), Colorado Enterprise Fund (CO), DreamSpring (NM), Economic and Community Development Institute (OH), Justine Petersen (MO), Pathway Lending (TN), PeopleFund (TX), Pursuit (NJ), Wisconsin Women's Business Initiative Corporation (WI) and African American Alliance of CDFI CEOs. Learn more at www.veteranloanfund.com.
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE:TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an opportunity to thrive. Embodying these focus areas are the Foundation's leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truistfoundation.org.
Media Contacts
Jenny Palecek
SVP, Philanthropic Partnerships, PeopleFund
[email protected]
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SOURCE Veteran Loan Fund