LITTLE ROCK, Ark. (AP) - The chief of the U.S. Small Business Administration announced during an Arkansas visit a new program to help veterans who want to start entrepreneurial ventures.
With U.S. Sen. Mark Pryor, SBA Acting Administrator Jeanne Hulit said Friday that the borrowing fee will be waived for loans of less than $350,000. The change begins on Jan. 1 and continues through Sept. 30, the end of the fiscal year.
The announcement at the University of Arkansas at Little Rock came during a Senate Small Business subcommittee hearing chaired.
A number of veterans who used SBA loans to start small businesses were on hand. They discussed counseling and business development training available to veterans through the agency.
The SBA provided $1.86 billion in loans for veteran-owned businesses in the last fiscal year.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)