ALBUQUERQUE, NM — DreamSpring — a nonprofit Community Development Financial Institution (CDFI), U.S. Small Business Administration (SBA) lender, and founding member of the Veteran Loan Fund (VLF) — joins its national partners in celebrating the graduation of the first cohort of the Veteran and MilSpouse Business Accelerator. Made possible through the support of Truist Foundation, the program helps veterans and military spouses access the capital, education, and support they need to start and grow businesses.
The eight-week accelerator combines practical business education with access to affordable capital and ongoing technical assistance. Its curriculum is delivered through a collaboration involving the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC), the Veteran Women’s Enterprise Center (VWEC), participating CDFIs, and specialized partners.
Since launching in 2021, VLF members have collectively deployed more than $118 million in loan capital to 1,537 veterans and military spouses, helping create or retain more than 8,350 jobs nationwide as of June 30, 2026. VLF connects entrepreneurs with participating CDFIs and specialized partners across the country, pairing intensive training and mentorship with capital readiness support.
“The Veteran Loan Fund’s mission and DreamSpring’s are deeply aligned — we both believe that access to capital and the right support can change the trajectory of a business and a community,” says Charles McElrath, President & CEO of DreamSpring. “There’s no better place to put that belief into practice than in service of the men and women who have served our country.”
“The VLF Accelerator gave me the insight and strategic clarity needed to take my business to the next level,” says Dean N. Cobian, Founder and Director of Cobian Service Co., LLC, a company providing fleet maintenance and pressure washing support services for oil and gas infrastructure in Midland-Odessa, Texas. “The program brought in business coaches to guide us through the various avenues of entrepreneurship and educated participants on how to fulfill documentation requirements for small business loans.”
DreamSpring extends its appreciation to the Truist Foundation, participating CDFIs, education partners, investors, and supporters whose collaboration makes this initiative possible.
Applications for Second National Cohort Now Open
Applications for the second cohort of the VLF Business Accelerator are now open. Space is limited — veterans and military spouses can visit veteranloanfund.com/accelerator to learn more and apply.
About Veteran Loan Fund
The Veteran Loan Fund is a national effort of a growing number of Community Development Financial Institutions (CDFIs) and specialized technical assistance partners dedicated to helping veterans and military spouses start and grow small businesses. Member CDFIs include Access to Capital for Entrepreneurs (GA), Ascendus (NY), Appalachian Community Capital (VA), BBIF (FL), Business Impact Northwest (WA), Colorado Enterprise Fund (CO), DreamSpring (NM), Economic and Community Development Institute (OH), Justine Petersen (MO), Pathway Lending (TN), PeopleFund (TX), Pursuit (NJ), Wisconsin Women’s Business Initiative Corporation (WI), and members of African American Alliance of CDFI CEOs. Learn more at veteranloanfund.com.
About DreamSpring
DreamSpring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender dedicated to propelling individual and family economic mobility and community wealth-building by helping people start and grow small businesses. Founded in 1994, the organization provides rapid access to capital and customized wrap-around support to entrepreneurs and nonprofits in 27 states. To date, DreamSpring has issued more than 50,000 loans totaling over $585 million to small businesses that support an estimated 68,000 jobs. Learn more at www.DreamSpring.org.
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