The gist

Waives SBA guarantee fees on business loans up to $1 million for veterans and military spouses, and reduces the down payment they must contribute to qualify.

Who wins, who loses

Wins: veteran entrepreneurs, military spouses, surviving spouses, reservists, and service members preparing to exit the military.

Loses: taxpayers absorbing the fee revenue loss; non-veteran small business owners who still pay full fees.

What it does

Eliminates SBA 7(a) and 504 loan guarantee fees on veteran-owned business loans up to $1,000,000.

Cuts the required equity injection (borrower's own cash) by at least 5 percentage points for veteran startup loans.

Defines eligibility broadly: veterans, reservists, Transition Assistance participants, spouses, and surviving spouses.

Requires SBA to publish lending data and report veteran participation in mentorship programs.

Why should I care?

Supporters say veterans face higher loan denial rates and need help turning military skills into businesses that hire locally. Critics argue carve-outs for specific groups complicate SBA programs and shift costs onto other borrowers or taxpayers. An alternative: expand financial counseling for all underserved entrepreneurs instead of fee waivers. Where do you land? Vote below and use "Tell Your Rep" to make sure your voice reaches Congress.