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05/14/2021 01:16 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20210&cosponId=34328
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Senate of Pennsylvania
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: January 22, 2021 12:23 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 756) 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.

Previous Co-Sponsors - FONTANA, SCHWANK, SANTARSIERO, COSTA, VOGEL, HUGHES, BREWSTER, BROWNE, BLAKE, TARTAGLIONE and SABATINA

I hope you’ll join me in sponsoring this important bill. Should have any questions, please contact my office at (717) 787-7105.