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 & 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.
Since launching in 2021, VLF has raised approximately $30 million, which members have leveraged locally to deploy more than $110 million in small business loans to over 1,500 Veteran and Military Spouse entrepreneurs, supporting approximately 8,000 jobs nationwide.
Nearly 20% of this impact has taken place in Texas. "This Accelerator builds on the strong foundation created through the Veteran Loan Fund," said Gustavo Lasala, President and CEO of PeopleFund, Texas member of VLF. "By combining capital, coaching, and a national network of partners, we are creating a more effective pathway for Veteran and Military Spouse entrepreneurs to launch, grow, and scale successful businesses."
The Veteran and Military Spouse Business Accelerator uses a coordinated model that delivers business education and mentorship, capital readiness and financial training, marketing and 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 forecasting 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.
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.
Veterans and Military Spouses in Texas can learn more and apply to participate in the Accelerator by following this link or by visiting www.peoplefund.org.
The launch of the Accelerator kicks off a new phase of growth for the Veteran Loan Fund, building on strong national momentum and a proven model that combines capital with hands-on business support. Through this initiative, VLF aims to deploy an additional $15 million in loans and up to $1.5 million in grants, supporting approximately 300 Veteran and Military Spouse entrepreneurs and helping create or retain 1,500 jobs within the next year.
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 members of African American Alliance of CDFI CEOs. Learn more at www.veteranloanfund.com.
About PeopleFund:
PeopleFund is a nonprofit Community Development Financial Institution (CDFI), an SBA lender and serves as the managing member of the Veteran Loan Fund. Established in 1994, PeopleFund has more than 30 years of experience helping thousands on the path to financial security. PeopleFund programs focus on advancing economic opportunities for individuals of low to moderate income by providing capital, training and other resources needed to grow a healthy small business. Since inception, PeopleFund's direct impact on the economy has surpassed $1.4 Billion through more than 6,000 loans to small businesses and New Market Tax Credit allocations. PeopleFund also has helped create and retain more than 25,000 jobs and delivered hundreds of thousands hours of business education. To learn more about PeopleFund please visit www.peoplefund.org.
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 Contact:
Jenny Palecek, SVP of Philanthropic Partnerships, [email protected]
(512) 222-1005
SOURCE PeopleFund
Share this article