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Heroes Business Opportunity Act of 2025
To waive the guarantee fee for certain business loans made to veterans and spouses of veterans.
Summary
This bill waives the guarantee fee for certain Small Business Administration loans made to veterans and spouses of veterans. The waiver applies to loans made to small business concerns owned by veterans or their spouses, with the deferred participation share of the loan not exceeding $1,000,000. The definition of eligible individuals includes veterans, those in the Transition Assistance Program, reserve component members, spouses of these individuals, and surviving spouses of service members who died on active duty or from service-connected disabilities. The waiver does not apply to loans made under certain other SBA programs identified in the statute. The effect of this provision is to reduce borrowing costs for veteran-owned small businesses by eliminating the guarantee fee on eligible loans.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Shaheen, Jeanne [D-NH] (D-NH)
1 cosponsor
Actions (2)
- Nov 6, 2025 Read twice and referred to the Committee on Small Business and Entrepreneurship. · senate
- Nov 6, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
November 6, 2025
Mrs. Shaheen (for herself and Mr. Markey) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship
A BILL
To waive the guarantee fee for certain business loans made to veterans and spouses of veterans.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Heroes Business Opportunity Act of 2025”.
SEC. 2. WAIVER OF GUARANTEE FEE FOR CERTAIN BUSINESS LOANS MADE TO VETERANS AND SPOUSES OF VETERANS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
(1) in paragraph (18)—
(A) in subparagraph (A), in the matter preceding clause (i), by striking “With respect” and inserting “Except as provided in subparagraph (C), with respect”; and
(B) by adding at the end the following:
“(C) Exception.—
“(i) In general.—Notwithstanding subparagraph (A), the Administration may not collect a guarantee fee under subparagraph (A) with respect to a loan guaranteed under this subsection if—
“(I) the loan is not made under paragraph (36) or (37);
“(II) the loan is made to a small business concern owned by veteran or spouse of a veteran; and
“(III) the deferred participation share of the total loan amount is not more than $1,000,000.
“(ii) Definition.—In this subparagraph, the term ‘veteran or spouse of a veteran’ means—
“(I) a veteran;
“(II) an individual who is eligible to participate in the Transition Assistance Program established under section 1144 of title 10, United States Code;
“(III) a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code;
“(IV) the spouse of an individual described in subclause (I), (II), or
(III); or
“(V) the surviving spouse (as defined in section 101 of title 38, United States Code) of an individual described in subclause (I), (II), or
(III) who died while serving on active duty or as a result of a disability that is service-connected (as defined in such section).”; and
(2) in paragraph (31)—
(A) by striking subparagraph (G); and
(B) by redesignating subparagraph (H) as subparagraph (G). <all>
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