Marc Veasey Intros Bill to Grow Women, Veteran, and Minority Small Businesses
Congressman Marc Veasey (D-TX) last week introduced legislation that he hopes will eliminate economic barriers institutionally faced by women, minorities, and veteran small business owners. The Diverse Small Businesses Empowerment Act would permanently eliminate the Small Business Administration guarantee fee for any loan made under $125,000 for veterans, minorities, and women. If enacted, the bill would also cut in half the guarantee fee charged to veteran, women, and minority-owned business start-up loans between $125,000-350,000, as well as eliminate the guarantee fee for women and minority-owned businesses for SBA Express Loans. “Diversity and strength is the engine of American innovation and economic success,” said Veasey. “If we want to see growth in the business sector, we need to remove the financial barriers minority-owned small businesses face and create more good-paying jobs... This bill will level the playing field, and foster growth for more minority-owned businesses in communities across the country.” More here.