Momentum builds as the fund launches its third round of funding
AUSTIN, Texas, November 25, 2025 – The Veteran Loan Fund (VLF), a national effort of Community Development Financial Institutions (CDFIs) and specialized partner organizations, announced that its members have collectively deployed more than $100 million in small business loans to 1,350 Veterans and Military Spouses since launching in 2021. These investments have created or retained more than 7,500 jobs nationwide, demonstrating the potential of this bold initiative. VLF also announced the launch of its third $15 million round of funding, which is expected to support an additional 300 Veteran-owned businesses in 2026.
“As we prepare for the next round, our excitement is fueled by the courage and vision of the Veterans we serve. It is our responsibility, and our honor, to ensure they have access to the resources that they need to succeed,” said Gustavo Lasala, President and CEO of PeopleFund, a Texas CDFI and member of VLF.
PeopleFund helps Veterans and Military Spouses start or grow their businesses with loan capital and technical assistance (tailored business coaching and education). Technical assistance is available at no cost, regardless of whether a participant receives a loan. Veterans and Military Spouses with businesses in Texas who are interested in learning more can complete a short online assessment at www.veteranloanfund.com or www.peoplefund.org.
One example of VLF’s impact through PeopleFund is Sanford Sourdough Bakery, founded by Meriann and Dave Sanford, who brought their decade-old California starter to Round Rock, Texas, in 2018. After traditional lenders declined their startup request, PeopleFund stepped in with financing that helped them open their bakery. More recently, a second round of support from PeopleFund enabled them to expand equipment, facilities, and working capital, fueling continued growth and local job creation.
In October 2025, PeopleFund, supported by VLF funding and in partnership with the Veterans Business Outreach Center at UT Arlington and the Veteran Women’s Enterprise Center, graduated the first cohort of its Military-Connected Small Business Accelerator. The program provides intensive training, mentorship, and capital readiness support to help Veterans and Military Spouses strengthen their business models and accelerate growth. “This accelerator is unique, the structure, the classes, the information they share, and the people,” said graduate Tammy Loving, founder of Gnivol Events. “I really thank this accelerator for supporting us and allowing us veterans to be heard, to be seen.”
Today’s $100 million milestone marks a significant moment not just for VLF, but for the thousands of Veteran entrepreneurs whose businesses fuel local economies across the country. This achievement was made possible by the hundreds of national and local partners, funders, and supporters whose commitment has powered the initiative from the start. Energized by this momentum, VLF and its partners are committed to expanding opportunities for even more Veteran-owned businesses in 2026 and beyond.
About Veteran Loan Fund:
Veteran Loan Fund is a collaborative effort of a growing 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), BBIF (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). Learn more at https://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 of hours of business education. 20% of PeopleFund’s clients are Veterans or Military Spouses. To learn more about PeopleFund please visit www.peoplefund.org.
Media Contact:
Jenny Palecek, SVP of Philanthropic Partnerships, [email protected]
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