H.R.5835 - Veterans Access to Capital Act of 2012112th Congress (2011-2012)
|Sponsor:||Rep. Boswell, Leonard L. [D-IA-3] (Introduced 05/18/2012)|
|Committees:||House - Small Business|
|Latest Action:||House - 05/18/2012 Referred to the House Committee on Small Business. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5835 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (05/18/2012)
Veterans Access to Capital Act of 2012 - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA), using up to 20% of annual amounts available for SBA loans to state and local development companies, to make loans directly to small businesses owned and controlled by veterans to be used on projects having a sound business purpose. Provides loan limits and requires partial project funding by such small business.
Amends the Small Business Act to authorize the Administrator to make up to 20% of the annual amounts available for SBA section 7(a) general small business loans available for loans to veteran-owned small businesses.
Directs the Administrator, for purposes of loans or loan guarantees to veteran- or disabled veteran-owned small businesses, to reduce any applicable requirement relating to the veteran's credit score, as long as the veteran has complied with other conditions that the Administrator may require.