|Posted:||December 20, 2018 02:29 PM|
|From:||Senator John T. Yudichak|
|To:||All Senate members|
|Subject:||Establishing a Veteran-owned Business Loan Guarantee Program|
|I am planning to reintroduce legislation (SB 395) to create a loan guarantee program aimed at veteran-owned small businesses.
The legislation would establish the “Veteran-owned Business Loan Guarantee Program” that would provide loan guarantees to commercial lending institutions that make loans to veteran-owned businesses. The program is modeled after the Second State Loan Program and would authorize the Commonwealth Financing Authority to guarantee up to 50 percent of the outstanding principle amount of the loan. The guarantee would be limited to $250,000 for any one loan.
I hope you’ll join me in sponsoring this important bill. Should have any questions, please contact my office at (717) 787-7105.
Previous co-sponsors include Senators Brewster, Browne, Costa, Farnese, Greenleaf, Hughes, Mensch, Rafferty, Sabatina, Tartaglione, and Vogel.
Introduced as SB756