Successful Entrepreneurship for Reservists and Veterans Act

Floor Speech

Mr. Speaker, I am pleased to support H.R. 828, the Successful Entrepreneurship for Reservists and Veterans Act, also known as the SERV Act.

Veteran entrepreneurs are powerful economic engines and job creators. More than 1.6 million veteran businessowners employ nearly 3.3 million Americans and make approximately $983.9 billion in sales.

With that said, one of the biggest challenges facing veteran-owned small businesses is access to capital. Servicemembers report that it can be difficult to build credit while serving overseas. Studies have shown that a higher percentage of veterans are turned down for loans. The uncertainty underscores the need for investment in veteran-owned small businesses.

The bill we are considering today would require the Government Accountability Office, GAO, to conduct a study on the availability of credit to veteran, service-disabled, and reserve-owned small businesses.

I commend Representatives Davids, Alford, and Conaway for their bipartisan work on this bill that will identify barriers and improve SBA's outreach to veterans.

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Ms. VELAZQUEZ. Davids), the main sponsor of the bill.
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Ms. VELAZQUEZ. Mr. Speaker, I applaud Ms. Davids, Mr. Alford, and Mr. Conaway for their commitment to our Nation's veterans. I urge my colleagues to support H.R. 828, and I yield back the balance of my time.

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