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Law Seeks to Make SBA Loans Cheaper for Veterans

Michael Brindley
/
NHPR

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.

Peter Biello is the host of All Things Considered and Writers on a New England Stage at New Hampshire Public Radio. He has served as a producer/announcer/host of Weekend Edition Saturday at Vermont Public Radio and as a reporter/host of Morning Edition at WHQR in Wilmington, North Carolina.
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