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Pennsylvania State Senate
10/10/2024 06:54 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=16429
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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: January 8, 2015 10:49 AM
From: Senator John T. Yudichak
To: All Senate members
Subject: Legislation to Establish a Veteran-owned Business Loan Guarantee Program
 
I am re-introducing legislation (SB 215) 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.
Previous sponsors of the bill included: STACK, TEPLITZ, BREWSTER, FONTANA, RAFFERTY, GREENLEAF, BAKER, COSTA, TARTAGLIONE, BROWNE, FARNESE, MENSCH, and BLAKE


Introduced as SB378