H. R. 2499 

One Hundred Fourteenth Congress 

of the 

United States of America 

AT THE FIRST SESSION 

Begun and held at the City of Washington on Tuesday, 

the sixth day of January, two thousand and fifteen 

An Act 

To amend the Small Business Act to increase access to capital for veteran entrepreneurs, to help create jobs, and for other purposes. 

Be it enacted by the Senate and House of Representatives of 

the United States of America in Congress assembled, 

SECTION 1. SHORT TITLE. 

This Act may be cited as the ‘‘Veterans Entrepreneurship Act 

of 2015’’. 

SEC. 2. PERMANENT SBA EXPRESS LOAN GUARANTEE FEE WAIVER 

FOR VETERANS. 

Section 7(a)(31) of the Small Business Act (15 U.S.C. 636(a)(31)) 

is amended by adding at the end the following: 

‘‘(G) GUARANTEE FEE WAIVER FOR VETERANS.— 

‘‘(i) GUARANTEE FEE WAIVER.—The Administrator 

may not collect a guarantee fee described in paragraph 

(18) in connection with a loan made under this paragraph to a veteran or spouse of a veteran on or after 

October 1, 2015. 

‘‘(ii) EXCEPTION.—If the President’s budget for the 

upcoming fiscal year, submitted to Congress pursuant 

to section 1105(a) of title 31, United States Code, 

includes a cost for the program established under this 

subsection that is above zero, the requirements of 

clause (i) shall not apply to loans made during such 

upcoming fiscal year. 

‘‘(iii) DEFINITION.—In this subparagraph, the term 

‘veteran or spouse of a veteran’ means— 

‘‘(I) a veteran, as defined in section 3(q)(4); 

‘‘(II) an individual who is eligible to participate 

in the Transition Assistance Program established 

under section 1144 of title 10, United States Code; 

‘‘(III) a member of a reserve component of 

the Armed Forces named in section 10101 of title 

10, United States Code; 

‘‘(IV) the spouse of an individual described 

in subclause (I), (II), or (III); or 

‘‘(V) the surviving spouse (as defined in section 

101 of title 38, United States Code) of an individual 

described in subclause (I), (II), or (III) who died 

while serving on active duty or as a result of 

a disability that is service-connected (as defined 

in such section).’’. 
H. R. 2499—2 

SEC. 3. REPORT ON ACCESSIBILITY AND OUTREACH TO FEMALE VETERANS BY THE SMALL BUSINESS ADMINISTRATION. 

Not later than 180 days after the date of enactment of this 

Act, the Administrator shall submit to Congress a report assessing 

the level of outreach to and consultation with female veterans 

regarding access to capital by women’s business centers (as 

described in section 29 of the Small Business Act (15 U.S.C. 656)) 

and Veterans Business Outreach Centers (as referred to in section 

32 of such Act (15 U.S.C. 657b)). 

SEC. 4. BUSINESS LOANS PROGRAM. 

(a) SECTION 7(a) FUNDING LEVELS.—The third proviso under 

the heading ‘‘BUSINESS LOANS PROGRAM ACCOUNT’’ under the 

heading ‘‘SMALL BUSINESS ADMINISTRATION’’ under title V of division 

E of the Consolidated and Further Continuing Appropriations Act, 

2015 (Public Law 113–235; 128 Stat. 2371) is amended by striking 

‘‘$18,750,000,000’’ and inserting ‘‘$23,500,000,000’’. 

(b) LOAN LIMITATIONS.—Section 7(a)(1) of the Small Business 

Act (15 U.S.C. 636(a)(1)) is amended— 

(1) in subparagraph (A)— 

(A) by striking ‘‘No financial assistance’’ and inserting 

the following: 

‘‘(i) IN GENERAL.—No financial assistance’’; and 

(B) by adding at the end the following: 

‘‘(ii) LIQUIDITY.—On and after October 1, 2015, 

the Administrator may not guarantee a loan under 

this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely 

because the liquidity of the lender depends upon the 

guaranteed portion of the loan being sold on the secondary market.’’; and 

(2) by adding at the end the following: 

‘‘(C) LENDING LIMITS OF LENDERS.—On and after 

October 1, 2015, the Administrator may not guarantee 

a loan under this subsection if the sole purpose for 

requesting the guarantee is to allow the lender to exceed 

the legal lending limit of the lender.’’. 

(c) REPORTING.— 

(1) DEFINITIONS.—In this subsection— 

(A) the term ‘‘Administrator’’ means the Administrator 

of the Small Business Administration; 

(B) the term ‘‘business loan’’ means a loan made or 

guaranteed under section 7(a) of the Small Business Act 

(15 U.S.C. 636(a)); 

(C) the term ‘‘cancellation’’ means that the Administrator approves a proposed business loan, but the prospective borrower determines not to take the business loan; 

and 

(D) the term ‘‘net dollar amount of business loans’’ 

means the difference between the total dollar amount of 

business loans and the total dollar amount of cancellations. 

(2) REQUIREMENT.—During the 3-year period beginning on 

the date of enactment of this Act, the Administrator shall 

submit to Committee on Small Business and Entrepreneurship 

and the Committee on Appropriations of the Senate and the 

Committee on Small Business and the Committee on Appropriations of the House of Representatives a quarterly report 
H. R. 2499—3 

regarding the loan programs carried out under section 7(a) 

of the Small Business Act (15 U.S.C. 636(a)), which shall 

include— 

(A) for the fiscal year during which the report is submitted and the 3 fiscal years before such fiscal year— 

(i) the weekly total dollar amount of business 

loans; 

(ii) the weekly total dollar amount of cancellations; 

(iii) the weekly net dollar amount of business 

loans— 

(I) for all business loans; and 

(II) for each category of loan amount described 

in clause (i), (ii), or (iii) of section 7(a)(18) of the 

Small Business Act (15 U.S.C. 636(a)(18)); 

(B) for the fiscal year during which the report is submitted— 

(i) the amount of remaining authority for business 

loans, in dollar amount and as a percentage; and 

(ii) estimates of the date on which the net dollar 

amount of business loans will reach the maximum 

for such business loans based on daily net lending 

volume and extrapolations based on year to date net 

lending volume, quarterly net lending volume, and 

quarterly growth trends; 

(C) the number of early defaults (as determined by 

the Administrator) during the quarter covered by the 

report; 

(D) the total amount paid by borrowers in early default 

during the quarter covered by the report, as of the time 

of purchase of the guarantee; 

(E) the number of borrowers in early default that are 

franchisees; 

(F) the total amount of guarantees purchased by the 

Administrator during the quarter covered by the report; 

and 

(G) a description of the actions the Administrator is 

taking to combat early defaults administratively and any 

legislative action the Administrator recommends to address 

early defaults. 

Speaker of the House of Representatives. 

Vice President of the United States and

President of the Senate.