Bipartisan Bill Waives SBA Loan Fees for Veterans
Washington, DC - Colorado U.S. Senator Michael Bennet has signed on as a cosponsor of the Veterans Entrepreneurship Act. The bill, introduced by Senator Jeanne Shaheen (D-NH), would permanently make Small Business Administration (SBA) loans less expensive for veterans in the Express loan program by waiving loan fees.
"Our veterans are uniquely suited to create successful businesses that can help drive our economy," Bennet said. "This bill makes it easier for veterans to access the capital that is key to starting businesses and supporting jobs in communities throughout Colorado and the country."
The legislation would support veteran entrepreneurship by providing additional fee waivers for veteran-owned small businesses. The bill would also require reviews of existing SBA programs to better serve veterans before and after deployment, women veterans, National Guard members, and reservists.
In addition to Bennet and Shaheen, the bill is cosponsored by Senators Maria Cantwell (D-WA), Angus King (I-ME), Kelly Ayotte (R-NH), Mazie Hirono (D-HI), Deb Fischer (R-NE), Gary Peters (D-MI), and Chris Coons (D-DE).
The bill is supported by the American Legion, the National Guard Association of the U.S., the Military Officers Association of America, the Green Beret Foundation and others.
# # #