NEW ROCHELLE, N.Y. (CBSNewYork) — The U.S. Small Business Administration and Iona College joined Wednesday to highlight a $5 million grant for veteran and military spouse entrepreneurs.

The college’s Hynes Institute for Entrepreneurship was selected by the Syracuse University Institute for Veterans and Military Families.

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It was chosen to support their Community Navigator Pilot Program, funded by the U.S. Small Business Administration.

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The head of the SBA explained how the program works.

“The navigator program is going to level up our resource partner network by connecting entrepreneurs to the great content and the capital and the government contracting opportunity and the trade opportunities that the SBA presents to small businesses,” said Isabella Casillas Guzman.

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Iona will work with the Syracuse Institute to support veteran entrepreneurship locally and nationally.

CBSNewYork Team