To amend the Small Business Act to waive the guarantee fee for loans of not more than $150,000 provided to veterans and spouses of veterans under the Export Working Capital, International Trade, and Export Express programs.

To amend the Small Business Act to waive the guarantee fee for loans of not more than $150,000 provided to veterans and spouses of veterans under the Export Working Capital, International Trade, and Export Express programs. 1. Permanent loan guarantee fee waivers for veterans Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) (1) in paragraph (14)(B)(ii), by adding at the end the following: (III) Guarantee fee waiver for veterans (aa) Definition In this subclause, the term veteran or spouse of a veteran (bb) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan of not more than $150,000 made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subclause. (cc) 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 item (bb) shall not apply to loans made during such upcoming fiscal year. ; (2) in paragraph (16), 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 (ii) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan of not more than $150,000 made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subparagraph. (iii) 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 (ii) shall not apply to loans made during such upcoming fiscal year. ; and (3) in paragraph (34), by adding at the end the following: (D) Guarantee fee waiver for veterans (i) Definition In this subparagraph, the term veteran or spouse of a veteran (ii) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with an express loan of not more than $150,000 made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subparagraph. (iii) 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 (ii) shall not apply to express loans made during such upcoming fiscal year. .

Summary: This bill amends the Small Business Act to prohibit the Small Business Administration (SBA) from assessing a guarantee fee in connection with a loan of not more than $150,000 made to a veteran or spouse of a veteran beginning the first fiscal year after enactment of this bill under the SBA's Export Working Capital, International Trade, or Export Express programs. If the President's budget for the upcoming fiscal year includes a cost for such a program that is above zero, this prohibition shall not apply to loans made during such upcoming fiscal year.