TYSONS, Va.–Pentagon FCU’s PenFed Foundation said it has invested in Flagship Management as a recipient of its Veteran Entrepreneur Investment Program (VEIP).
Cofounded by U.S. Navy veteran Dan Kervick, Flagship Management is a full-cycle, turnkey capital equipment servicing and reseller for healthcare companies, the Foundation said, adding it is providing Flagship Management with an investment to expand headcount, build existing infrastructure and invest in new technology and compliance software.
“We’re proud to invest in veteran-owned businesses making a positive impact and improving lives,” said James Schenck, president & CEO of PenFed Credit Union and CEO of PenFed Foundation. “It’s important to continue investing in our communities even during this challenging time for our nation. We know that veteran-founded companies provide more jobs for veterans, and Flagship Management is a growing employer with veterans representing over 70% of their technicians.”
Flagship Management serves as a full-cycle, turnkey capital equipment servicing and reseller for healthcare companies: equipment sales, delivery and installation, preventative maintenance, electrical safety inspections, calibrations, field and bench repairs, re-upholstery, relocations and discard.
“I am honored to have been selected and look forward to continuing to work with the PenFed Foundation,” said Kervick. “PenFed Foundation’s support of veteran entrepreneurs is inspiring and their commitment to the military community is demonstrated daily as they work to provide veterans with strong financial futures. This investment will enable Flagship Management to grow and hire even more veterans.”
The PenFed Foundation said its VEIP exists to help Kervick and other veteran entrepreneurs overcome their biggest obstacle: obtaining capital and a network of support. Program participants can receive an investment from the Foundation to grow their business and are connected with a support network of over 1,700 business partners. Since its launch in 2018, VEIP has provided over $2 million in support of veteran entrepreneurs.
“Veterans are known for their resourcefulness, leadership abilities and unique skillsets,” said PenFed Foundation President and retired Army General John “Mick” Nicholson. “We are proud to invest in Daniel and the Flagship Management team and look forward to seeing the innovative ways in which the company grows and continues to support the military community.”