|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