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11/25/2020 09:44 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20170&cosponId=22194
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Senate of Pennsylvania
Session of 2017 - 2018 Regular Session

MEMORANDUM

Posted: January 17, 2017 12:16 PM
From: Senator John T. Yudichak
To: All Senate members
Subject: Reintroduction of Legislation – Establishing a Veteran-owned Business Loan Guarantee Program
 

I will soon reintroduce legislation (SB 378) to create a loan guarantee program aimed at veteran-owned small businesses.

The legislation would establish the “Veteran-owned Business Loan Guarantee Program,” which would provide loan guarantees to commercial lending institutions that make loans to veteran-owned businesses. The program is modeled after the Second Stage Loan Program and would authorize the Commonwealth Financing Authority to guarantee up to 50% of the outstanding principal amount of the loan. However, such a guarantee would be limited to $250,000 for any one loan.

I hope you will join me in supporting this important measure. Should you have any questions, please contact my office at 717-787-7105.

Previous co-sponsors of the bill include: Baker, Blake, Brewster, Browne, Costa, Farnese, Fontana, Greenleaf, Hughes, Mensch, Rafferty, Schwank, Tartaglione and Vogel



Introduced as SB395