National Economic Opportunity Fund

WASHINGTON, DC (April 10, 2006) – The National Economic Opportunity Fund (NEOF) has entered into an agreement with The Veterans Corporation (TVC) to develop a small business and micro loan program for Veterans and Service Disabled Veterans. Under this unique program, TVC members and Veterans will have access to the type of financing that makes all the difference in the first stages of business development.

According to Walt Blackwell, President & CEO of TVC, “The vast majority of calls we receive at TVC are from Veterans who need funding to begin or grow a business. With this new program, we are addressing that need head-on.”

Recent studies have shown that Veterans and Service-Disabled Veterans do not have adequate access to capital. These studies emphasized that providing Veterans, particularly Service Disabled Veterans, with access to capital would significantly impact new job creation in the United States. As a community development entity, NEOF is dedicated to bringing jobs and economic growth to distressed communities across the country. By partnering with TVC, NEOF will be able to align the interests of Veteran and Service-Disabled Veteran business owners with the goals of the communities they serve.

According to James Mingey, President & CEO of NEOF, “In my experience, Veterans and Service-Disabled Veterans have made some of the best entrepreneurs. This program will be an excellent way to maximize their considerable skills.”

In addition to the small business and micro loan program, NEOF will work with TVC to develop a portfolio of financial products and services such as credit cards, commercial bank loans, business consulting services, and investments that will be available to TVC Members.

The National Veterans Business Development Corporation, doing business as The Veterans Corporation, is a Federally-chartered 501(c)(3) organization that was created by Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999. This Act recognized that America “has done too little to assist Veterans…in playing a greater role in the economy of the United States". The Corporation is charged with creating and enhancing entrepreneurial business opportunities for Veterans, including Service-Disabled Veterans.

The National Economic Opportunity Fund is a community development financial intermediary, which has developed a specialized, public-private franchise model focused on accelerating economic development by working with Women, Minority, and Service Disabled Veteran Owned businesses. To accomplish this goal, NEOF has aligned local community development interests with the forces of national advocates such as the Business Roundtable, the Metropolitan Business Collaborative, the Minority Business Roundtable, and the National Community Reinvestment Corporation.

For more information about NEOF, please visit our new web site at www.neof.com or contact:

Chris Baily
Community Investment Banker
Marketing and Brand Development
cbaily@neof.com
(917) 304-3822

For more information about the Veterans Corporation, please visit www.veteranscorp.org or contact:

Sue Capozzi
Vice President, Members and Member Programs
scapozzi@veteranscorp.org
(703) 299-4390