The fund approaches $120 million deployed nationwide as it launches second cohort

AUSTIN, Texas, Sept. 30, 2026 /PRNewswire/ — The Veteran Loan Fund (VLF) announced the graduation of the first cohort of its Veteran and MilSpouse Business Accelerator (VLF Accelerator), marking a significant milestone in its mission to expand access to capital and business coaching for Veteran and military spouse entrepreneurs. The VLF Accelerator was made possible by generous support of the Truist Foundation.

The inaugural cohort included 37 entrepreneurs from five states. Graduates received more than $3.2 million in loan capital and $150,000 in grants from participating CDFIs. Collectively, these businesses are projected to create or retain more than 120 jobs.

The eight-week accelerator combines practical business education with access to capital and ongoing technical assistance. Its curriculum is delivered through a collaborative effort involving the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC), the Veteran Women’s Enterprise Center (VWEC), member CDFIs and other specialized partners.

“Helping this group of graduates access the capital, knowledge, and support they need to build successful businesses is a powerful reminder of why this collaboration matters,” said Ray Pennie, a Veteran, and Chief of Business Advisory Services for Access to Capital for Entrepreneurs, a Georgia based CDFI and member of VLF. “Supporting Veterans and military spouses is both a privilege and a responsibility. This first cohort marks the beginning of many more to come.”

Graduates share their experiences

The VLF Accelerator provides more than classroom instruction. “This accelerator showed me that it is critical to set aside dedicated time to focus on the growth and strategy of my business,” said Chandra Lamonica Winford, U.S. Army Reserve veteran and owner of Winford Financial LLC, sponsored by ACE in Georgia. “It also exposed me to new technologies and how to leverage them to grow my business faster.” Ms. Winford also emphasized the opportunity to connect with speakers and fellow veterans who could become future mentors, clients or business partners.

In Missouri, Robert Dobynes Jr., a Veteran taking over his family’s 40-year-old optical practice, described the importance of having a partner that understood his business and its history. “As a veteran taking over the 40-year optical practice started by my parents, I needed more than funding, I needed a partner who understood both the legacy and the stakes”, said Dobynes, sponsored by Justine Petersen a Missouri based CDFI and member of VLF. “This Accelerator provided valuable strategies and helped me shift my perspective as I move the business into its next chapter.” Mr. Dobynes joined other participants highlighting the role of their sponsoring CDFIs and the value of this program at the local level.

Building on a national track record of impact

The graduation comes as VLF continues to expand its reach. As of June 30, 2026, VLF members had deployed more than $118 million in loan capital to 1,537 Veterans and military spouses, helping create or retain more than 8,350 jobs across the country.

Since 2021, VLF has brought together a network of CDFIs and specialized partners to provide affordable capital, tailored business coaching, and technical assistance, helping Veterans and military spouses build stronger, more sustainable businesses.

The national Veteran and MilSpouse Business Accelerator represents an expansion of this model by connecting entrepreneurs with a coordinated curriculum while preserving the local relationships and individualized support provided by participating CDFIs.

Applications for the second national cohort open October 7

Applications for the second cohort of the VLF Business Accelerator will open on October 7, 2026. The program will continue to combine business education, access to affordable capital, and technical assistance through VLF’s network of participating CDFIs and specialized partners. Space is limited, and veterans and military spouses are encouraged to visit www.veteranloanfund.com to learn more and connect with a participating CDFI.

VLF extends its appreciation to participating CDFIs, education partners, investors, and supporters whose collaboration makes this national initiative possible.

About Veteran Loan Fund:

Veteran Loan Fund is a collaborative effort of a national group of Community Development Financial Institutions (CDFIs) and specialized technical assistance partners with the mission to help underserved Veterans and military spouses start and grow small businesses. The fund provides a specialized source of capital and a forum to share best practices and conduct advocacy efforts for lenders to originate loans and grow their local Veteran programs. Member CDFIs include Access to Capital for Entrepreneurs (GA), Appalachian Community Capital (VA), Ascendus (NY), Black Business Investment Fund (FLA), 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), and Wisconsin Women Business Initiative Corporation (WI) and African American Alliance of CDFI CEOs. Learn more at https://www.veteranloanfund.com.

Media Contact:
Jenny Palecek, SVP of Philanthropic Partnerships, jpalecek@peoplefund.org, (512) 222-1005

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SOURCE Veteran Loan Fund