Ongoing opportunity for veterans to receive financial assistance during COVID-19

The PenFed Foundation for Military Heroes is a 501(c)3 nonprofit with a mission to empower military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity. The PenFed Foundation was the first national veteran service organization (VSO) to launch a COVID-19 Emergency Financial Relief program in March 2020. The program helped more than 560 veterans and service members, and provided more than $600,000 in assistance.

Now, as outbreaks continue to peak and the economy begins a long recovery phase, the PenFed Foundation is proud to continue to serve veterans and service members through the crisis. Here’s how:

  1. Veterans are currently experiencing a 5% higher unemployment rate over 2019 (U.S. Department of Labor). This is largely due to the pandemic, which has led to unprecedented layoffs. Wounded, ill, and injured post-9/11 combat veterans experiencing a short-term financial setback can receive assistance for past due rent, mortgage, auto loans or lease, or utilities from the PenFed Foundation’s Emergency Financial Assistance Program. To learn more about eligibility requirements and apply online now, click here:
    Emergency Assistance
  2. Veteran-owned business will play a critical role in our nation’s economic recovery from this pandemic. We help veterans build and grow businesses through the Veteran Entrepreneur Investment Program (VEIP). This fall, we will launch our VEIP Master’s Program, a one-year intensive program to prepare growth-stage, veteran-owned startups to raise the necessary capital to take their businesses to the next level. We’re seeking veteran and military spouse owned and led companies ready to raise investor funds to grow their defensible and validated business model. To learn more and apply for the fall cohort, click here:
    Master's Program
  3. With all-time low interest rates, the housing market shows sustained strength throughout the pandemic ( We help veterans and service members have a home. The Dream Makers provides 2-to-1 matching grants for down payment and closing cost assistance, with a maximum grant of $5,000. Active Duty, Reserve, National Guard or Veterans are welcome to apply. To learn more about eligibility requirements and apply online today, click here:
    Dream Makers

Since 2001, the PenFed Foundation has provided more than $38.5 million in financial support to more than 140,000 military families.