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S 3136

Heroes Business Opportunity Act of 2025

119th Congress Introduced by Ed Markey and 1 co-sponsor

The Heroes Business Opportunity Act waives loan guarantee fees for veteran-owned businesses, boosting access to $1M in funding and fostering economic growth in their communities.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 3136

Summary of S. 3136 - Heroes Business Opportunity Act of 2025

Bill Overview

  • Bill Number: S. 3136
  • Title: Heroes Business Opportunity Act of 2025
  • Introduced: November 6, 2025
  • Status: Introduced in Senate and referred to the Committee on Small Business and Entrepreneurship

Purpose and Intent

The Heroes Business Opportunity Act of 2025 aims to support veterans and their spouses by waiving the guarantee fee for certain business loans. This initiative is designed to enhance access to capital for veteran-owned small businesses, thereby fostering entrepreneurship and economic growth within this community.

Key Provisions

The bill proposes the following significant changes to the Small Business Act:

  1. Waiver of Guarantee Fee:

    • The bill amends Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) to eliminate the guarantee fee for loans made to small business concerns owned by veterans or their spouses.
    • The waiver applies specifically to loans where:
      • The total loan amount does not exceed $1,000,000.
      • The loan is not made under certain specified conditions (not detailed in the summary).

  2. Definition of Eligible Borrowers:

    • The bill defines "veteran or spouse of a veteran" to include:
      • Veterans
      • Individuals eligible for the Transition Assistance Program
      • Members of reserve components of the Armed Forces
      • Spouses of the above individuals
      • Surviving spouses of veterans who died while on active duty or due to a service-connected disability.

  3. Amendments to Existing Provisions:

    • The bill also includes provisions to redesignate certain subparagraphs within the Small Business Act, streamlining the language and structure of the legislation.

Impact

  • Who Would Be Affected:

    • The primary beneficiaries of this bill are veterans and their spouses who own or wish to start small businesses. By waiving the guarantee fee, the bill aims to reduce the financial burden on these entrepreneurs, making it easier for them to secure funding.

  • Economic Implications:

    • By facilitating access to business loans, the bill is expected to stimulate economic activity within veteran communities, potentially leading to job creation and increased business development.

Procedural Aspects

  • The bill was introduced in the Senate on November 6, 2025, and has been read twice before being referred to the Committee on Small Business and Entrepreneurship for further consideration.

In summary, the Heroes Business Opportunity Act of 2025 seeks to empower veterans and their spouses by removing financial barriers to business loans, thereby promoting entrepreneurship and economic growth among this important demographic.

Compiled from official sources — confirm details with the bill’s official record.

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