Texas Benefits for Veterans: Home and Business Assistance
By Aaron Mead
As a veteran, you’ve earned access to specific benefits that can help you transition from military life to civilian life more smoothly. This article focuses on the home and business-related benefits available to veterans in the state of Texas. From housing assistance to property tax exemptions to small business grants, many programs can help you get back on your feet and position you for a strong start in this next chapter. Let’s look at some of your options!
Veterans Home Improvement Program
If you’re happy in your current home but it’s a little worse for wear or needs some styling updates, the Veterans Home Improvement Program (VHIP) can help you revamp your living space. The program offers low-interest loans for Texas veterans who want to tackle home improvement projects and repairs.
Veterans Housing Assistance Program
Say that your goal is to buy a home, but you don’t know how to do it in your current financial situation. The Veterans Housing Assistance Program (VHAP) can help you purchase a home that meets your and your family‘s needs. If eligible, you can get a low-interest loan and a small down payment; in some cases, you won’t have to pay a down payment at all.
Texas Veterans Land Board
As part of the Texas General Land Office (GLO), the Texas Veterans Land Board (VLB) offers services and benefits to Texas military members, veterans, and their families. The range of services includes low-interest home and land loans, skilled nursing home care, burial and interment services, and more.
Texas Property Tax Exemption
As you may already know, there is no state property tax in Texas. But the state takes it even further for veterans and their surviving spouses: you may be eligible for an array of partial or total tax exemptions from appraised property values on a local level!
Starting a Business
One of the first steps in starting a business is creating a business plan, which outlines your goals, target market, competitive analysis, and financial projections. Setting up a Limited Liability Company is a crucial step for new business owners, as it protects personal finances from business liabilities and offers potential tax benefits. For veterans in Texas, establishing an LLC can be streamlined with services like ZenBusiness, which provides specialized support and guidance tailored to veterans’ needs, making the process smoother and more efficient.
Finding Grants To Help Fund Your Business
If you plan to embark on a business venture, it’s essential to access the grants available to you as a veteran. You might be surprised how many grants out there can provide you with assistance and guidance on all matters related to launching a company. And these programs can help with essential costs like purchasing materials or covering salary expenses.
Being able to access these grants can make the difference between success and failure in the early stages of a business. So don’t overlook them if you want to make your entrepreneurial dreams a reality!
The Military Reservist Economic Injury Disaster Loan Program (MREIDL) — This federal loan program centers on equipping small businesses to brave the waves if an employee must leave for active duty. It can provide up to $2 million of working capital to cover any obligations during your absence.
Veteran Readiness and Employment Program for Disabled Vets — The VR&E program provides a range of services for disabled service members and veterans who want to launch their own businesses, from resume building to career coaching and independent living assistance.
SBA Veterans Advantage 7(a) Loan — The SBA designed these loans specifically for veteran-owned small businesses. You or your spouse can be eligible for the loan if you own 51% of the company and are an honorably discharged veteran, active-duty military service member, National Guard member, or active reservist.
These are just some of the many benefits available to veterans here in Texas that can make transitioning into civilian life much easier. Look into the ideas above, and continue researching the various home and business programs that can help you start civilian life on the right foot. You’ve served our country well — now it’s your turn to build a happy and successful life in the Lonestar state!
