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Pennsylvania State Senate
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Senate of Pennsylvania
Session of 2013 - 2014 Regular Session


Posted: February 1, 2013 09:55 AM
From: Senator John T. Yudichak
To: All Senate members
Subject: Legislation to Establish a Veteran-owned Business Loan Guarantee Program
I am introducing legislation that will create a loan guarantee program aimed at veteran-owned small businesses. The legislation establishes a “Veteran-owned Business Loan Guarantee Program.” The purpose of the program is to provide loan guarantees to commercial lending institutions that make loans to veteran-owned businesses. The program is modeled after the Second Stage Loan Program. Under the program, the Commonwealth Financing Authority may guarantee up to 50% of the outstanding principal amount of the loan; a guarantee may not exceed $250,000 for any one loan.

Introduced as SB215