Easier Business Loans for Veterans from Credit Unions.
This law aims to improve veterans' access to financing for starting or expanding their businesses. It excludes loans given to veterans by credit unions from the regulatory cap placed on "member business loans." This change allows credit unions to offer more business financing specifically to veterans without hitting their mandatory limits.
Key points
Veterans will have easier access to business loans from credit unions.
Credit unions can issue more business loans to veterans, as these loans will no longer count toward their mandatory regulatory limits.
The changes will take effect 180 days after the law is enacted.
Status:
Expired
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