House Passes Rep. Davids’ Bill to Help Veteran Business Owners Succeed
Today, the House of Representatives passed Rep. Sharice Davids’ bill, the Successful Entrepreneurship for Reservists and Veterans Act, or SERV Act. This bipartisan legislation helps veteran business owners succeed by studying the barriers they face, including lack of access to credit. It also increases outreach and promotion of small business programs available to veterans.
“Veterans possess so many of the entrepreneurial skills needed to start and run a successful small business – but we must do a better job of helping them make the transition from service to business,” said Davids. “I’m proud the House passed my bill with broad bipartisan support so we can help connect veterans with all the small business resources available to them, and so we can better understand and address the barriers veterans entrepreneurs face.”
The SERV Act requires a report from the Comptroller General of the United States on the ability of veteran and reservist small business owners to access credit, a necessary part of any business’ success.
The legislation also requires the U.S. Small Business Association to develop a plan for outreach and promotion of the many programs available to veterans, service-disabled veterans, reservists, and their spouses.
“The Small Business Administration has many different programs aimed at helping veteran entrepreneurs – but these programs are only useful if veterans know about them,” said Davids. “That’s why this bill requires SBA to develop a plan for outreach and promotion of these incredible programs, so we can connect more veterans with the resources they need to grow and thrive.”
Davids introduced the bipartisan bill with House Small Business Committee Ranking Member Steve Chabot (R-OH).