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Calendar No. 105 

114TH CONGRESS 

1ST SESSION S. 957 

To increase access to capital for veteran entrepreneurs to help create jobs. 

IN THE SENATE OF THE UNITED STATES 

APRIL 15, 2015 

Mrs. SHAHEEN (for herself, Mr. KING, Ms. CANTWELL, Ms. AYOTTE, Mrs. 

FISCHER, Ms. HIRONO, Mr. COONS, and Mr. PETERS) introduced the following bill; which was read twice and referred to the Committee on Small 

Business and Entrepreneurship 

JUNE 10, 2015 

Reported by Mr. VITTER, without amendment 

A BILL 

To increase access to capital for veteran entrepreneurs to 

help create jobs. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Veterans Entrepre5 neurship Act’’. 

6 SEC. 2. DEFINITIONS. 

7 In this Act— 


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1 (1) the term ‘‘Administrator’’ means the Ad2 ministrator of the Small Business Administration; 

3 (2) the term ‘‘reserve component’’ means a re4 serve component of the Armed Forces named in sec5 tion 10101 of title 10, United States Code; 

6 (3) the term ‘‘small business concern’’ has the 

7 meaning given the term under section 3(a) of the 

8 Small Business Act (15 U.S.C. 632(a)); 

9 (4) the term ‘‘veteran’’ has the meaning given 

10 the term under section 3(q)(4) of the Small Busi11 ness Act (15 U.S.C. 632(q)(4)); 

12 (5) the term ‘‘Veterans Business Outreach Cen13 ter’’ means a veterans business outreach center de14 scribed in section 32 of the Small Business Act (15 

15 U.S.C. 657b); and 

16 (6) the term ‘‘women’s business center’’ means 

17 a women’s business center described in section 29 of 

18 the Small Business Act (15 U.S.C. 656). 

19 SEC. 3. PERMANENT SBA EXPRESS LOAN GUARANTEE FEE 

20 WAIVER FOR VETERANS. 

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

22 636(a)) is amended— 

23 (1) in paragraph (18)(A), by striking ‘‘With re24 spect’’ and inserting ‘‘Except as provided in para25 graph (31), with respect’’; and 


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1 (2) in paragraph (31), by adding at the end the 

2 following: 

3 ‘‘(G) GUARANTEE FEE WAIVER FOR VET4 ERANS.— 

5 ‘‘(i) DEFINITION.—In this subpara6 graph, the term ‘veteran or spouse of a 

7 veteran’ means— 

8 ‘‘(I) a veteran, as defined in sec9 tion 3(q)(4); 

10 ‘‘(II) a member of the Armed 

11 Forces serving on active duty who is 

12 eligible to participate in the Transi13 tion Assistance Program established 

14 under section 1144 of title 10, United 

15 States Code; 

16 ‘‘(III) a member of a reserve 

17 component of the Armed Forces 

18 named in section 10101 of title 10, 

19 United States Code; 

20 ‘‘(IV) the spouse of an individual 

21 described in subclause (I), (II), or 

22 (III); or 

23 ‘‘(V) the surviving spouse of an 

24 individual described in subclause (I), 

25 (II), or (III) who died while serving 


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1 on active duty or as a result of a serv2 ice-connected (as defined in section 

3 101 of title 38, United States Code) 

4 disability. 

5 ‘‘(ii) GUARANTEE FEE WAIVER.—The 

6 Administrator may not assess a guarantee 

7 fee under paragraph (18) in connection 

8 with a loan made under this paragraph to 

9 a veteran or spouse of a veteran on or 

10 after October 1, 2015.’’. 

11 SEC. 4. REPORT ON FINANCIAL PLANNING AND COUN12 SELING FOR OWNERS OF SMALL BUSINESS 

13 CONCERNS IN THE NATIONAL GUARD AND 

14 RESERVES. 

15 Not later than 180 days after the date of enactment 

16 of this Act, the Administrator shall submit to Congress 

17 a report assessing the feasibility of providing financial 

18 planning and counseling to owners of small business con19 cerns who are members of a reserve component prior to 

20 deployment. 

21 SEC. 5. REPORT ON ACCESSIBILITY AND OUTREACH TO FE22 MALE VETERANS BY THE SMALL BUSINESS 

23 ADMINISTRATION. 

24 Not later than 180 days after the date of enactment 

25 of this Act, the Administrator shall submit to Congress 


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1 a report assessing the level of outreach to and consultation 

2 with female veterans by women’s business centers and 

3 Veterans Business Outreach Centers. 

4 SEC. 6. REPORT ON THE MILITARY RESERVISTS ECONOMIC 

5 INJURY DISASTER LOAN PROGRAM. 

6 Not later than 180 days after the date of enactment 

7 of this Act, the Administrator shall submit to Congress 

8 a report on the Military Reservists Economic Injury Dis9 aster Loan Program (in this section referred to as the 

10 ‘‘program’’) authorized under section 7(b)(3) of the Small 

11 Business Act (15 U.S.C. 636(b)(3)), which shall include— 

12 (1) a discussion of the outreach efforts of the 

13 Small Business Administration to increase participa14 tion in the program; 

15 (2) the number of loans made under the pro16 gram; 

17 (3) an analysis of the effectiveness of the pro18 gram; and 

19 (4) recommendations for improving the pro20 gram. 


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Calendar No. 105 

114TH CONGRESS 

1ST SESSION S. 957 

A BILL 

To increase access to capital for veteran 

entrepreneurs to help create jobs. 

JUNE 10, 2015 

Reported without amendment 


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