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Veterans Bill Cosponsored By Knight Passes Committee

Legislation Would Help Service Members Start Small Businesses Upon Returning Home

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Washington, DC, June 11, 2015 | comments

A bill cosponsored by Rep. Steve Knight (CA-25) that would help veterans access capital to start small businesses passed out of Small Business Committee this morning.

H.R. 2499, the Veterans Entrepreneurship Act of 2015, would expand opportunities for veterans coming home from their service by removing barriers to capital for starting their own business. It instructs the Small Business Administration to waive upfront fees for loans under $350,000 to veterans. Because it does not appropriate any funds, this program does not cost taxpayers any money.

“Helping our veterans and our small businesses are two of my highest priorities. I’m proud to help both by cosponsoring the Veterans Entrepreneurship Act,” said Representative Knight. 
 
According to the Small Business Administration, the veteran population’s self-employment rate has remained higher than that of non-veterans, yet its current unemployment rates remain higher than the national average. 

“Veterans are trained leaders and natural entrepreneurs, but don’t always have access to the funds they need to fully put their skills into action,” continued Knight. “This bill helps them overcome that particular hurdle.”

H.R. 2499 passed the House Small Business Committee by unanimous vote on Wednesday afternoon.   

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