CQ TODAY MIDDAY UPDATE
Jan. 16, 2008 – 2:03 p.m.
House Seeks to Expand SBA Programs for Veterans

The House on Wednesday sent the Senate a revised version of legislation to expand Small Business Administration programs for veterans and military reservists.

By 406-2, the House accepted some of the changes the Senate made earlier to the bill while making some of its own.

The bill, sponsored by Rep. Jason Altmire, D-Pa., would reauthorize SBA programs for veterans and reservists for two years and include $4.4 million to support Veterans Business Outreach Centers. It also would allow the SBA to offer loans of up to $50,000 without requiring collateral from a loan applicant.

Some 4 million veterans own small businesses, making up about 14 percent of such enterprises, while the unemployment rate for veterans is nearly double the national average.

The Altmire bill would lengthen the time available to reservists to apply for disaster loans and raise the maximum loan amount.

It also would establish a program to inform women veterans about available SBA resources and create a grant program to strengthen outreach to veterans.

Source: CQ Today Midday Update
Political Clippings compiled from BNN Frontrunner and CQ Politics.com.
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