Veteran Entrepreneur Investment Program
How It Works
The PenFed Foundation, in cooperation with PenFed Credit Union, will leverage our collective capital and influential networks to help specially selected and qualified Veteran entrepreneurs succeed in business. These important new ventures will create meaningful jobs while strengthening our local economies and communities.
Veterans, through their military training, tested leadership, varied professionals skillsets and life experience, create a significant and sustainable competitive advantage in business.
At the same time, Entrepreneurs are determined innovators who solve problems and close critical gaps through their product and service offerings.
PenFed Foundation believes that investing both of these resources in veteran entrepreneurs will help enable veterans to strengthen and support our local and national economies by creating jobs and by building thriving enterprises that will ultimately hire additional veterans down the road.
The VEIP will be funded by outside donors with PenFed Credit Union matching up to $1 million in contributions in 2018 to the PenFed Foundation in order to launch this program. The PenFed Foundation VEIP plans to invest in three to five selected businesses a year. Returns on all investments will go back into the program to support future veteran-owned business ventures.
Watch PenFed Foundation CEO James Schenck discuss the program on Fox Business here.