Why I voted Yes on H.R. 2499

Statement

I voted "Yes" on H.R. 2499, the Veterans Entrepreneurship Act.

The Small Business Administration (SBA) Express Loan Program provides guaranteed loans under $350,000 to small businesses and allows qualified lenders to make a decision on loan applications within 36 hours. This program is fully self-sustaining, without taxpayer subsidies, paid for through upfront loan fees. The SBA waived the fees for veteran-owned small businesses during fiscal year 2015, and this legislation permanently waives the upfront fee on express loans for veteran-owned small businesses. Importantly, this bill ensures that waiving the fee comes at no cost to the taxpayer will not add to the deficit. I voted for this legislation to aid veteran-owned small businesses access the capital they need to grow and create jobs in our community.

This bill passed by a bipartisan vote of 410-1.

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