Frequently Asked Questions

Question: What is the cost for UTAVBOC services?

Answer: Most UTAVBOC services are free to all transitioning service members, veterans, disabled veterans, National Guard, reserve component members and spouses.

Question: Do I qualify for UTAVBOC services?

Answer: You may request UTAVBOC assistance if you are seeking information for starting or growing a business in North Texas, Oklahoma, or Arkansas; and if you are:

- - An honorably discharged veteran
  - An Active Duty Military service member eligible for the military Transition Assistance Program (TAP)
  - An Active Reservist and/or National Guard Member
  - A current spouse of any of the above, or a widowed spouse of a service member who died while in service or as a result of a service-connected disability

Question: How do I receive UTAVBOC services?

Answer: The first step is to REQUEST FREE ASSISTANCE FOR YOUR BUSINESS. by clicking the banner on the UTAVBOC Home Page. The U.S. Small Business Administration requires all clients to register and complete the Request for Counseling form (Form 641), which also serves as our Confidentiality and Conflict of Interest Agreements (provided for your security). Next, you will complete a brief intake process, including "3 Steps To Get You On Your Way" which allows UTAVBOC to better understand your business and assist you.

Question: When can I see an advisor?

Answer: UTAVBOC is responsible for transitioning veterans, disabled veterans, National Guard, active and reserve component service members, and their spouses who are interested in becoming business owners in Arkansas, Oklahoma and Texas. Although 85% of our advisors' time is spent out of the office delivering the Boots to Business program, advocating for veteran resources and conducting outreach to create awareness of the program, advisors use technology (including email, text, Skype and webEx tools) to communicate and respond to your requests for information. To connect with an advisor face to face, an appointment is required. Reminder, the sooner you complete the "3 Steps To Get You On Your Way", the sooner you can receive direct assistance. The 3 Steps allow the advisors to better prepare for a productive conversation with you. If you have completed the 3 Steps, please contact us to follow up. You may also visit our resource partners at SCORE, SBDC, or the WBC.

In the meantime, the SBA Learning Center is a great place to begin.

Question: Are there any special grants for veterans or disabled veterans?

Answer: Please be advised, there are a lot of unscrupulous people out there promoting information on grants for a fee. The information at the SBA Grant/Lending Tool website is the same information they are selling. Thus, do not get caught up in someone selling you grant information that is available for free (http://www.sba.gov/loans-and-grants). Currently, UTAVBOC is unaware of specific grants for veterans to start or expand a for-profit business. However, small businesses and nonprofits conducting research and development can apply for grants at SBIR.gov. For general information on obtaining federal grants, please visit www.grants.gov. Also, despite what you might hear through misinformed sources, the government (federal or state), including the Veterans Benefits Administration (VA) offers a wide-variety of benefits and services to Veterans; however, the VA does not provide grants or loans to start a business.

**Scam Alert** Please be cautious of and thoroughly investigate the legitimacy of any organization stating they can get you a grant.

Question: How do I get a loan for my business?

Answer: The SBA does not typically offer direct loans (except in disaster situations). The SBA does, however, serve as a guarantor for a loan that you acquire through one if its many lending partners, i.e., similar to a co-signer. Your UTAVBOC advisor will discuss financing options available to you, including U.S.Small Business Administration loan guarantees. Before you start talking to lenders, have a look at the abbreviated checklist below to see if you're ready.

- - Business Plan: Most lenders expect a business plan when you apply for startup funding. If you need to create one, learn more at sba.gov.
  - Amount & Use of Funds: Know how much capital you need and how it will help your business.
  - Credit History: Lenders use credit scores to determine credit risk and interest rates. The SBA helps guarantee some loans that otherwise may not qualify.
  - Cash Flow and Financial Projections: Show you understand your business' finances, how the funds will be used, and how you'll pay back the loan.
  - Collateral: Many lenders require you to use another asset to guarantee your loan. This can be a home, car, inventory, or other property you own.
  - Competence and Industry Experience: Industry experience isn't required, but it's helpful. Firsthand knowledge about your industry can make your lender feel confident about your loan request.

Question: How do I become a Veteran Owned and/or Service Disabled Veteran Owned business?

Answer: You can simply self-declare if you, as the veteran, are the majority owner (51%). You do this by stating it on your business cards, your email signature line, your website, social media or any documentation/collateral that has your business name on it. However, if you are doing business with customers that require you to be certified, i.e., the federal government or large corporations, there are specific entities that can assist you in getting certified, including our office. Join the military connected business owners community on Alice and check out the guide to certification.

Question: Do I have to pay the LLC formation fee if I am a veteran?

Answer: Good news! Effective January 2022, the $300 LLC formation fee and five years of franchise taxes will be waived per Senate Bill 938 for Texas Veterans. This benefit waives the formation fee for new 100% veteran-owned business entities and relieves veteran-owned businesses of the Texas franchise tax for the initial 5-year period. Learn more

Question: Can I use the word 'veteran' in my business name?

Answer: An entity's name that reasonably implies that the entity is created by or for the benefit of war veterans or their families cannot include the words "veteran," "legion," "foreign," "Spanish," "disabled," "war," "world war", or abbreviations thereof, without written permission from a congressionally-recognized veterans organization with a name containing the same word or phrase, or variation or abbreviation. If such a veterans organization does not exist, then consent must be obtained from the state commander of the: American Legion, Disabled American Veterans of the World War, Veterans of Foreign Wars of the United States, United Spanish War Veterans, or Veterans of the Spanish-American War.

E-mail Bill West with the American Legion Texas Dept (billw@txlegion.org) and include the official business name and address that you are filing under. If approved, you will receive an approval letter to provide to the Texas Secretary of State. Learn more

Question: Can I bring a non-veteran business partner and/or employee with me to a UTAVBOC event or workshop?

Answer: Absolutely! As long as the eligible member is present, business partners and team members may also attend.