Improving Capital Access Programs Within The Sba

1463 Words Aug 5th, 2015 6 Pages
On May 19, 2015, a hearing in the 114th congress was held. The Subcommittee on Economic Growth, Tax and Capital Access (of the Committee on Small Business) entitled ‘Improving Capital Access Programs within the SBA’, discussed ways to give more money to its veteran entrepreneurs. This would be done by changing the loan process within the Small Business Administration. The House report gives the following testimony from, “a lender authorized to operate in the Loan Program that the initiative would help SBA-guaranteed lenders get needed capital to veterans,” (p.4 HR). This is where the idea was planted and then it was assigned by the speaker, Mr. John Boehner, to the House Committee on Small Business.

Introduced May 21, 2015, Representative Steve Chabot, Chairman of the Small Business Committee, recommended to increase access to capital for veteran entrepreneurs. This act was named the Veterans Entrepreneurship Act of 2015. Along with Rep Chabot were six cosponsors in the House: Rep Mike Bost (IL), Rep Carlos Curbelo (FL), Rep Christopher Gibson (NY), Rep Richard Hanna (NY), Rep Steve Knight (CA), and Rep Tom Rice (SC). All six gentlemen are republicans and members of the House Committee on Small Business. There are 24 members in the committee, ten of which are democrats; six out of fourteen republicans sponsored this Act. There are currently no female republicans on this committee. This means that most republicans on the Committee are in favor of veterans receiving capital…
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