Veteran business registry a useful resource

By Tyler Hemstreet on September 3, 2010

Veteran business owners interested in growing their businesses can take advantage of a valuable resource offered by the Washington State Department of Veterans Affairs.

The VA's Washington State Veteran/Service Member Owned Business Registry was established in 2007 and features nearly 1,000 businesses.

The registry promotes businesses by giving government agencies and corporations access to the statewide list of veteran or service member owned businesses, said Jennifer Montgomery, a communications officer with the VA.

"Anyone in the community can also access the registry and search for a business," she said.

The registry provides government agencies and corporations a statewide list of veteran and/or service member owned businesses for contracting opportunities. As part of some changes in state laws that took effect in June, Washington state agencies are encouraged to award 3 percent of all noncompetitive contracts to veteran or service member owned businesses, Montgomery said.

Business owners can register themselves by visiting www.dva.wa.gov/businessregistry.

By registering, they will receive a decal that will identify their business as veteran/service member owned. Owners can print a decal to display in their business office as well as download the decal to use on business letterhead, Web sites or other promotional materials.

Registration also entitles veteran or service member owned businesses to qualify for the Washington State Veteran Linked Deposit Program. The program improves access to capital for certified business enterprises by decreasing interest rates on small business loans up to 2 percent.

Any firm currently certified by the WDVA as a veteran or service member owned business is entitled to the Linked Deposit benefit. Any business related loan carried by a certified firm and made by a participating lender is eligible for enrollment in the program. A firm must be certified by WDVA before the business loan can be enrolled in the program.

Veterans and U.S. active duty, reserve or National Guard service members are eligible for the registry. The veteran or service member must control (the authority or ability to direct, regulate or influence day-to-day operations) and own at least 51 percent of the business, and the business must be legally operating in the state of Washington.

To search the veteran or service member owned list, visit www.dva.wa.gov/Business Registry/Search.aspx.