The U.S. Small Business Administration has announced the Veteran Federal Procurement Entrepreneurship Training Program funding opportunity competition. The SBA will award the funding to a U.S.-based organization to expand an existing program they offer that provides federal procurement entrepreneurship training to veteran business owners and service-disabled veteran business owners. The programs should help veteran entrepreneurs compete for and win federal contracts.

A maximum of $500,000 in funding is available annually for up to four years. The period of performance consists of a base period of 12 months and three option periods of 12 months each.

Nonprofit and private sector organizations that have a history of providing quality entrepreneurship and business management training for veteran entrepreneurs are eligible. Additional criteria that will considered includes performance metrics, outcomes of the existing program and the ability to scale operations of the existing program to serve veteran entrepreneurs from all U.S. states and territories.

“Federal agencies are expected to conduct at least three percent of their procurement actions with SDVOSBs. This three percent goal is our floor, not our ceiling,” said Barbara Carson, the associate administrator for SBA’s Office of Veterans Business Development, said in a release. “Fortunately, we’ve surpassed this three percent minimum over the past four fiscal years, and I look forward to working with the successful awardee to ensure we continue this progress.”

The Office of Veterans Business Development will host a webinar on Wed., May 24, at 1 p.m. Central to provide details and answer questions about the competition. More information the webinar is available at www.sba.gov/ovbd.

Eligible organizations can submit their application for the funding competition at www.grants.gov by Friday, June 8.