The fund approaches $120 million deployed nationwide as it launches second cohort
Austin, Texas, September 30, 2026 – PeopleFund, the Texas member of the Veteran Loan Fund (VLF), joins its national partners in celebrating the graduation of the first cohort of the Veteran and MilSpouse Business Accelerator (VLF Accelerator). Made possible through the generous support of the Truist Foundation, the program helps Veterans and military spouses access capital, education, and support needed to start and grow successful businesses.
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 Community Development Financial Institutions (CDFIs). Collectively, these businesses are projected to create or retain more than 120 jobs.
“PeopleFund is honored to collaborate with CDFIs across the country to expand opportunities for Veterans and military spouses,” said Gustavo Lasala, President and CEO of PeopleFund. “The success of this first cohort demonstrates the power of combining affordable capital with business education. We are excited to build on this momentum.”
The eight-week accelerator combines practical business education with access to affordable capital and ongoing technical assistance. Its curriculum is delivered through a collaboration involving the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC), the Veteran Women’s Enterprise Center (VWEC), participating CDFIs, and specialized partners.
Building on a National Track Record of Impact
Since launching in 2021, VLF members have collectively deployed more than $118 million in loan capital to 1,537 veterans and military spouses, helping create or retain more than 8,350 jobs nationwide as of June 30, 2026. This first cohort included 18 graduates from Texas.
VLF expands access to affordable capital and business education for Veteran and military spouse entrepreneurs providing intensive training, mentorship, and capital readiness support. The national VLF Accelerator builds on this collaborative model, connecting entrepreneurs with participating CDFIs and specialized partners across the country.
“The VLF Accelerator gave me the insight and strategic clarity needed to take my business to the next level,” said Dean N. Cobian, Founder & Director of Cobian Service Co., LLC, a Texas-based company providing support services such as fleet maintenance and pressure washing for oil and gas infrastructure in Midland-Odessa. “The program brought in business coaches to guide us through the various avenues of entrepreneurship and educated participants on how to fulfill documentation requirements for small business loans.”
Applications for 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 in Texas are encouraged to visit www.veteranloanfund.com or www.peoplefund.org to learn more.
PeopleFund extends its appreciation to the Truist Foundation, participating CDFIs, education partners, investors, and supporters whose collaboration makes this initiative possible.
About PeopleFund
PeopleFund is a nonprofit Community Development Financial Institution (CDFI), an SBA lender, and the Texas member of the Veteran Loan Fund. Established in 1994, PeopleFund has more than 30 years of experience helping entrepreneurs achieve financial security through business ownership.
Since inception, PeopleFund’s direct impact on the Texas economy has surpassed $1.4 billion through financing for more than 6,000 small businesses and New Markets Tax Credit investments. PeopleFund has also helped create and retain more than 26,000 jobs and delivered over 235,000 hours of business education. Learn more at www.peoplefund.org.
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 www.veteranloanfund.com.
Media Contact
Jenny Palecek, SVP of Philanthropic Partnerships, PeopleFund
[email protected]
(512) 222-1005