This bill allows credit unions to give more loans to veterans by not counting those loans against business loan limits. This helps support veterans in starting or expanding their businesses.
Veterans Member Business Loan Act This bill excludes from credit union aggregate loan limitations member business loans made to veterans.
1. This bill changes the rules for member business loans at credit unions. 2. It allows loans made to veterans to be excluded from the business loan limit. 3. This means credit unions can offer more loans to veterans without restrictions. 4. The bill defines a veteran based on existing federal definitions. 5. The changes will take effect 180 days after the bill becomes law.
Veterans seeking loans to start or grow their businesses.