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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.
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Additional Information
Print number: 118_S_539
Sponsor: Sen. Sullivan, Dan [R-AK]
Process start date: 2023-02-28
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Veterans Member Business Loan Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_539.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-28.

What are the main provisions?

Key points include:

  • 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.
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. Sullivan, Dan [R-AK].

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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