This bill waives the Small Business Administration guarantee fee for certain business loans made to veterans and their spouses. The fee waiver applies to loans up to $1 million in the deferred participation share and covers veterans, active duty service members, reserve component members, military spouses, and surviving spouses of service members who died on active duty or from service-connected disabilities. The legislation expands access to small business financing for military-connected entrepreneurs by removing this upfront cost, making it easier for veterans to start or expand businesses. No specific funding amount or timeline is specified in the bill, as it primarily eliminates a fee rather than appropriating new funds. The bill was introduced in November 2023 and referred to the Senate Committee on Small Business and Entrepreneurship.
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