Many people are aware that they can use their Montgomery GI active duty benefits to attend college or university classes, or that they can use their benefits to attend vocational or technical school. But many veterans do not realize that there are other benefits and things that the Montgomery GI bill can be used for. Benefits under the Montgomery GI bill can be used to gain training and classes in becoming a small business entrepreneur or small business owner.
Congress worked to include different provisions when they revised and expanded the Montgomery GI bill, because they realize that one of the rich resources that the United States has as a country is in the small business world. Small business owners make up a vital part of our society and a important segment of our economy, and for this reason Congress has set up provisions in using the Montgomery GI bill program to support small business programs and small business ownership.
The Department of Defense, Congress, and the Veterans Administration have come together to put in provisions in the MGIB to allow Veterans to use portions of their VA Montgomery GI bill for small business training and support. There are many small business Development centers that are located at different spots around the country to help Veterans who wish to become successful small business owners. Small business and Entrepreneur training is offered at many of these small business development centers to help a veteran get a heads start in setting up their own small business.
There is only a ten-year time limit from the date of your last military separation, if you are called up for active duty or mobilized for more than 180 days consecutively then your ten-year benefit usage clock resets. If you are already a small businessperson this is not a disqualifying factor to using your MGIB benefits for additional training or support of your small business. You can access portions of your MGIB to receive specific business related and small business training. If you participate in the Top Up program before you leave active duty, you may even be able to increase the available benefits after you separate from the service, increasing them up to $5,400 dollars in some cases.
Its best to contact the VA and inquire about courses in small business training that you wish to get benefits for. The types of classes and requirements vary, so its best to go straight to the source (the Veterans Administration) for information and timely details on how to access your Montgomery GI bill to support and receive training support for your small business.