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Law Seeks to Make SBA Loans Cheaper for Veterans

Michael Brindley

President Obama signed into law Tuesday a bill that would make it easier for veterans to start businesses with loans from the Small Business Administration.

The bill would waive fees for veterans starting up new businesses with SBA loans—which New Hampshire Senator Jeanne Shaheen says will help veterans get started.

"This is bipartisan legislation," Shaheen says. "I introduced it in the last Congress and we reintroduced it. It got support in the House. And I’m very happy the President signed it quickly into law."

Last week, Shaheen and Republican Senator David Vitter of Louisiana amended the legislation to increase the lending authority for one SBA loan program.

A Senate version of this bill was co-sponsored by Republican Senator Kelly Ayotte.

Shaheen says the bill would also create a committee to study why female veterans are underrepresented among business owners.

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