This bill requires two reports about veteran and Reservist small business programs and credit access.
First, the Small Business Administration (SBA) must include, with its annual budget documents to Congress, a report on the Veterans Interagency Task Force. That SBA report must describe who was appointed to the task force and what the task force did. The SBA report must also identify and outline a plan for outreach and promotion of specific veteran business programs, including Veteran Business Outreach Centers, Boots to Business, Boots to Business Reboot, the Service-Disabled Entrepreneurship Development Training Program, the Veteran Institute for Procurement, the Women Veteran Entrepreneurship Training Program, and Veteran Women Igniting the Spirit of Entrepreneurship.
Second, the Comptroller General (GAO) must deliver a report to four congressional committees within 1 year of the law taking effect. The GAO report must analyze how small businesses owned and controlled by "covered individuals" access credit. The report must, to the extent practicable, examine (A) the sources of credit used and the average share from each source; (B) default rates by source compared with small businesses generally; (C) federal lending programs available to these businesses; (D) gaps in credit availability not filled by federal or private sources; (E) obstacles these individuals face in accessing credit; (F) how deployment and military duties affect veterans' and Reservists' credit history; and (G) how aware covered individuals are of federal programs that help with credit.
The bill defines "covered individual" to include veterans, service-disabled veterans, Reservists, and spouses of those individuals. The bill also states no new appropriations are authorized to carry out the Act.
If you are a veteran, a Reservist, or the spouse of one who owns or controls a small business, this bill directs the SBA and GAO to prepare reports focused on outreach, services, and access to credit for people like you. The SBA report must list task force activity and a plan for promoting named veteran business programs. The GAO report will gather information about where credit comes from, default rates, barriers to credit, awareness of programs, and effects of military service on credit histories.
Section 4 of the bill states: "No additional amounts are authorized to be appropriated to carry out this Act or the amendments made by this Act." There is no new funding authorized in the bill. No publicly available information on estimated costs beyond that statement is provided in the bill text.
No publicly available information.
No publicly available information.