Rep. Davids Introduces Bill to Help Veteran-Owned Businesses Succeed
Rep. Sharice Davids today introduced the SERV Act, a bill to help Veteran-owned businesses succeed by studying the barriers these businesses face, including lack of access to capital and credit.
“Growing up with a parent in the army, I saw firsthand the challenges our service members face when transitioning to new jobs after time in the military. There are so many veterans in Kansas with the entrepreneurial skills it takes to run a small business, and we must do a better job at setting them up for success,” said Davids.
The Successful Entrepreneurship for Reservists and Veterans Act, or 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 a business’ prosperity.
“Access to capital is one of the most important first steps entrepreneurs take when starting a business, and it is also one of the biggest difficulties, especially for our Veterans. By studying the problem of access to credit for Veterans and Reservists, the SERV Act will be a crucial first step in identifying solutions that allow these businesses to thrive,” said Davids.
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.
Davids introduced the bipartisan bill with House Small Business Committee Ranking member Steve Chabot (R-OH). To view the bill text, click HERE.