StreetShares Facilitates Low Risk Small Business Loans for Veterans





The SEC has approved new plans for a revolutionary type of loan facilitated by both crowdfunding and traditional funds. Mark Rockefeller, CEO of StreetShares, of Reston, Virginia, feels the result should benefit small businesses owned by veterans by making financing easier to obtain.

Rockefeller told Small Business Trends, “I wanted to build a company to give veteran business owners and entrepreneurs fast, fair, and transparent funding for their business. And we knew the American public would want to support it. That’s why we began working with the SEC for this unique approval.”

Rockefeller explains that traditionally, crowdfunding has two limitations: being limited to equity investment or accredited investors. Equity investment means you own a piece of the company but can’t get your money back until the company is sold. And the second, he contends, is limited to millionaires, those with the resources to allow the to be accredited.

The StreetShares Community

Street Shares is the first to receive approval from the SEC to allow anybody (non-accredited investors) to back loans and receive interest instead of T-shirts or early products. Anybody can invest. And those interested are encouraged to visit StreetShares.com, join and get notified when investments become available. It costs nothing to post a loan request or run a funding auction. There is no obligation to accept a loan. Street Shares handles the underwriting and credit decisions and co-invests in each loan.

While all small business entrepreneurs are welcome, Rockefeller especially encourages veterans to sign on as either borrowers or investors.

He says, “We focus on this market because we believe veterans make great entrepreneurs and we are veterans ourselves. I returned from Iraq in 2008, and I represent a generation of veterans that left the service to become entrepreneurs in the middle of the financial crisis.” He also finds that loans to vets have fewer defaults.

Street Shares states that most of its loans cost less than a credit card, compared to two popular online small business lenders which have APRs in the range of 40-80 percent.

Rockefeller adds: “Shop around. If you get another loan offer, bring it to us. Let us show you the hidden fees. Let Street Shares beat the offer.”

Image: Street Shares

2 Comments ▼

JoAnn McFarland


JoAnn McFarland JoAnn McFarland is a Staff Writer for Small Business Trends. She covers breaking news such as new product announcements, government policy, acquisitions and other industry developments. She is a published author and comes from a family-business background.

2 Reactions

  1. Martin Lindeskog

    JoAnn: How many veterans have started their own small business with help of StreetShares, so far?

  2. JoAnn McFarland

    Martin: Mark Rockefeller answers your questions as follows

    “StreetShares is focused on companies with 1+ years in business. That said, we fund very early stage veteran-and milspouse-run businesses. StreetShares has made nearly 300 loans to these businesses. Fun fact: StreetShares funded 2 if the 4 veteran businesses before they appeared on a special veterans episode of Shark Tank recently. We like to think we played a small part in helping them get there. We’re excited to invite all Veterans to join StreetShares in funding great businesses we believe in.”

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