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 entre-
preneurs, 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 para-
graph 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 VET-
ERANS 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 bor-
rower 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 sec-
ondary 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 Adminis-
trator approves a proposed business loan, but the prospec-
tive 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 Appropria-
tions 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 sub-
mitted 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 sub-
mitted— 
(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.