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Waiving SBA Loan Guarantee Fees for Veterans and Military Spouses.

This bill eliminates the guarantee fee charged by the Small Business Administration (SBA) on certain business loans for veterans, their spouses, and members of the reserve component. This change aims to reduce the upfront costs associated with starting or expanding a small business for military-affiliated individuals. The fee waiver applies to loans where the deferred participation share does not exceed $1 million.
Key points
Veterans, their spouses, and certain military personnel will no longer pay the SBA guarantee fee on eligible business loans.
The fee waiver applies to loans up to $1 million (based on the deferred participation share), making financing more affordable.
The goal is to support entrepreneurship within the military community by lowering the initial financial barrier to obtaining capital.
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Additional Information
Print number: 118_S_3302
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2023-11-14
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Heroes Business Opportunity Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3302.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-11-14.

What are the main provisions?

Key points include:

  • Veterans, their spouses, and certain military personnel will no longer pay the SBA guarantee fee on eligible business loans.
  • The fee waiver applies to loans up to $1 million (based on the deferred participation share), making financing more affordable.
  • The goal is to support entrepreneurship within the military community by lowering the initial financial barrier to obtaining capital.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Shaheen, Jeanne [D-NH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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