This bill, the Heroes Business Opportunity Act of 2025, changes Section 7(a) of the Small Business Act. It says the Small Business Administration may not collect a guarantee fee on certain 7(a) loans when three conditions are met: the loan is not made under paragraph (36) or (37), the loan is made to a small business owned by a veteran or the spouse of a veteran, and the deferred participation share of the total loan amount is not more than $1,000,000. The bill also defines who counts as a "veteran or spouse of a veteran". That definition includes: a veteran; someone eligible for the Transition Assistance Program under 10 U.S.C. 1144; a member of a reserve component named in 10 U.S.C. 10101; the spouse of any of those people; and a surviving spouse (as defined in 38 U.S.C. 101) of such a person who died while on active duty or from a service-connected disability. The bill also strikes subparagraph (G) in paragraph (31) of the same section and redesignates subparagraph (H) as subparagraph (G).
If you run a small business owned by a qualifying veteran or spouse, and you get a 7(a) loan that meets the bill's three conditions, the SBA may not charge the guarantee fee on that loan. The bill does not explain the meaning of "deferred participation share" in this text. The bill says it does not apply to loans made under paragraph (36) or (37) of Section 7(a). No publicly available information on the contents of paragraphs (36) and (37) is included in this bill text.
The bill text does not include a budget estimate or dollar amounts for federal costs or lost fees other than the $1,000,000 threshold for deferred participation share. No publicly available information on overall cost, savings, or budgetary effects is included in the provided text.
No publicly available information on proponents' statements, findings, or arguments is included in the provided bill text or metadata.
No publicly available information on opponents' statements, findings, or arguments is included in the provided bill text or metadata.