Veterans Entrepreneurship Act

To increase access to capital for veteran entrepreneurs to help create jobs. 1. Short title This Act may be cited as the Veterans Entrepreneurship Act 2. Definitions In this Act— (1) the term Administrator (2) the term reserve component (3) the term small business concern 15 U.S.C. 632(a) (4) the term veteran 15 U.S.C. 632(q)(4) (5) the term Veterans Business Outreach Center 15 U.S.C. 657b (6) the term women's business center 15 U.S.C. 656 3. Permanent SBA express loan guarantee fee waiver for veterans Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) (1) in paragraph (18)(A), by striking With respect Except as provided in paragraph (31), with respect (2) in paragraph (31), by adding at the end the following: (G) Guarantee fee waiver for veterans (i) Definition In this subparagraph, the term veteran or spouse of a veteran (I) a veteran, as defined in section 3(q)(4); (II) a member of the Armed Forces serving on active duty 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 of an individual described in subclause (I), (II), or (III) who died while serving on active duty or as a result of a service-connected (as defined in section 101 of title 38, United States Code) disability. (ii) Guarantee fee waiver The Administrator may not assess a guarantee fee under 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. . 4. Report on financial planning and counseling for owners of small business concerns in the National Guard and Reserves Not later than 180 days after the date of enactment of this Act, the Administrator shall submit to Congress a report assessing the feasibility of providing financial planning and counseling to owners of small business concerns who are members of a reserve component prior to deployment. 5. 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 by women's business centers and Veterans Business Outreach Centers. 6. Report on the Military Reservists Economic Injury Disaster Loan Program Not later than 180 days after the date of enactment of this Act, the Administrator shall submit to Congress a report on the Military Reservists Economic Injury Disaster Loan Program (in this section referred to as the program 15 U.S.C. 636(b)(3) (1) a discussion of the outreach efforts of the Small Business Administration to increase participation in the program; (2) the number of loans made under the program; (3) an analysis of the effectiveness of the program; and (4) recommendations for improving the program. June 10, 2015 Reported without amendment

Summary: Veterans Entrepreneurship Act (Sec. 3) Amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA) from assessing a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or spouse of a veteran on or after October 1, 2015. (Sec. 4) Directs the Administrator to report to Congress on: (1) the feasibility of providing financial planning and counseling to owners of small business concerns who are members of a reserve component prior to deployment; (2) the level of outreach to and consultation with female veterans by women's business centers and veterans business outreach centers; and (3) the Military Reservists Economic Injury Disaster Loan Program, which shall include a discussion of SBA outreach efforts to increase participation, the number of loans made, and an analysis of the effectiveness of, and recommendations for improving, the Program.