StreetShares, a Reston, Virginia-based small and medium enterprises (SMEs) lender, as per recent reports, has announced the launch of a credit card for military veteran business owners.
Moreover, as per reports, StreetShares will be marketing the new credit card to over 2.5 million veteran-owned small businesses in the US, which the Virginia-based lender considers “a niche population that is underserved”. The company expects that the new credit card offering will facilitate this underserved veteran community with the necessary tools to finance and pay for their day-to-day expenses.
“Veterans will use their card to do good while doing well,” comments Mark Rockefeller, CEO and co-founder of StreetShares and an Iraq war veteran. “Our mission is to be the trusted financial solution for America’s heroes and their communities, and this offering will help us achieve that.”
In addition, a set portion of the proceeds from every card will be used for funding support programs such as training and educational schemes for military veterans, military spouse entrepreneurs, and other dependents. StreetShares plans to roll out the card in Q2 2019.
Founded in 2013, the company started leveraging Title IV (Regulation A+) of the JOBS Act in 2017, allowing unaccredited investors to invest in small businesses. But now, the company has one of only a handful of peer-to-peer (P2P) lending platforms that’s open to unaccredited investors.