Rehberg, House Pass Legislation to Assist Military Reservist and Veterans Small Business Owners
Montana's Congressman, Denny Rehberg, today joined House colleagues in approving critical legislation which provides grants and loans to small businesses owned by military reservists and veterans.
"Those who've served in our armed forces deserve the best quality services available," said Rehberg, a member of the House Appropriations Committee. "This bill provides crucial grant and loan opportunities to veterans and military reservists who are working in Montana's small business community. This legislation will ensure these individuals are provided every possible opportunity to be successful in the private industry after their service to our country."
The Military Reservist and Veteran Small Business Reauthorization and Opportunity Act enhances current law by creating the Women Veterans Business Training Resource Program for the purpose of collecting and disseminating information on small business resources available for female veterans.
H.R. 4253 would create the Reservist Enterprise Transition and Sustainability Program to assist small businesses owned by U.S. Armed Forces Reservists. Under the program, the SBA would make grants of up to $300,000 available to veterans' business assistance programs that provide assistance to small businesses owned by reservists. The bill would also require Small Business Development Centers (SDBCs), which are funded by the SBA, to provide free business counseling and training to reservists. In addition, it would increase the maximum loan amount for SBA injury disaster loans due to military deployment from $1.5 million to $2 million.
"Many times new and growing small businesses need a little extra funding to get them off the ground," said Rehberg. "The programs in this bill will help do just that while recognizing the sacrifice of the brave men and women who have served."