Veterans Launch New Business Initiative in Chicago Community

CHICAGO — In a bid to boost veteran entrepreneurship, the Veteran Business Project launched new initiatives in the 6th and 36th wards of Chicago. The program, co-founded by Lynn Lowder, aims to connect veterans with business ownership opportunities in their communities, addressing a decline in veteran-owned businesses since World War II.

Lowder, a retired Marine Corps major and Vietnam War veteran, initiated this expansion after successfully helping two Navy veterans acquire the historic fireboat Fred A. Busse. This project represents a new chapter in connecting veterans with business owners looking to retire or sell their establishments.

“Veterans are naturally inclined to be entrepreneurs due to their discipline and leadership skills,” said Alderman Gilbert Villegas of the 36th Ward. “About 1,000 veterans in our community could benefit from these opportunities.”

The Veteran Business Project not only facilitates business transactions but also provides one-on-one coaching to veterans, guiding them through the process of business ownership. Lowder highlighted the importance of meaningful work for veterans transitioning back to civilian life. “Meaningful work is the fountain of youth,” he said. “It’s essential to serve people and contribute to society.”

In the 6th Ward, Alderman William Hall has previously launched support programs for veterans, including Hero Thursdays, which offers services like loan assistance and counseling. “In just one year, we have helped more veterans access their benefits than any other ward in the city,” Hall said.

The initiative is still in its initial stages, with both Villegas and Hall’s offices actively identifying veteran candidates and potential business opportunities. Villegas plans to kick off the pilot later this year, ensuring that local veterans are recognized and supported in their entrepreneurial pursuits.

“Veterans are heroes on the battlefield, yet they often face challenges when returning home,” Hall stated. “Programs like this will remind them they are heroes not only on the field but in the communities they call home.”

This initiative builds on the Veteran Business Project’s existing collaboration with the city of Chicago, which helps veteran-owned businesses compete for city contracts. Lowder envisions this ward-based approach as a potential model for cities grappling with similar economic challenges in supporting veterans.

For more information on the Veteran Business Project, visit their website.