S. 3136

119 S3136 IS: Heroes Business Opportunity Act of 2025
 U.S. Senate
 2025-11-06
 text/xml
 EN
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 II  119th CONGRESS  1st Session  S. 3136  IN THE SENATE OF THE UNITED STATES   November 6, 2025   Mrs. Shaheen  (for herself and  Mr. Markey ) introduced the following bill; which was read twice and referred to the  Committee on Small Business and Entrepreneurship    A BILL
To waive the guarantee fee for certain business loans made to veterans and
 spouses of veterans.
1.
Short title
This Act may be cited as the   Heroes Business Opportunity Act of 2025  .
2.
Waiver of guarantee fee for certain business loans made to veterans and spouses
 of veterans
Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) is amended—
(1)
in paragraph (18)—
(A)
in subparagraph (A), in the matter preceding clause (i), by striking  With respect  and inserting  Except as provided in subparagraph (C), with respect ; and
(B)
by adding at the end the following:
(C)
Exception
(i)
In general
Notwithstanding subparagraph (A), the Administration may not collect a guarantee fee under subparagraph (A) with respect to a loan guaranteed under this subsection if—
(I)
the loan is not made under paragraph (36) or (37);
(II)
the loan is made to a small business concern owned by veteran or spouse of a veteran; and
(III)
the deferred participation share of the total loan amount is not more than $1,000,000.
(ii)
Definition
In this subparagraph, the term  veteran or spouse of a veteran  means—
(I)
a veteran;
(II)
an individual who is eligible to participate in the Transition Assistance Program established under section 1144 of title 10, United States Code;
(III)
a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code;
(IV)
the spouse of an individual described in subclause (I), (II), or (III); or
(V)
the surviving spouse (as defined in section 101 of title 38, United States Code) of an individual described in subclause (I), (II), or (III) who died while serving on active duty or as a result of a disability that is service-connected (as defined in such section).
 ; and
(2)
in paragraph (31)—
(A)
by striking subparagraph (G); and
(B)
by redesignating subparagraph (H) as subparagraph (G).