Small Business Veterans Small Business Natural Resources Loan Guarantee Programs

Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781976518065
Total Pages : 38 pages
Book Rating : 4.5/5 (18 download)

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Download or read book SBA Veterans Assistance Programs written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-09-18 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several federal agencies, including the Small Business Administration (SBA), provide training and other assistance to veterans seeking civilian employment. For example, the Department of Defense, in cooperation with the SBA, Department of Labor, Department of Veterans Affairs, and several other federal agencies, operates the Transition Goals Plans Success program (Transition GPS), which provides employment information and entrepreneurship training to exiting military servicemembers to assist them in transitioning from the military to the civilian labor force. In recent years, the SBA has focused increased attention on meeting the needs of veteran small business owners and veterans interested in starting a business. The SBA provides management and technical assistance services to more than 100,000 veterans each year through its various management and technical assistance training partners (e.g., Small Business Development Centers, Women's Business Centers [WBCs], Service Corps of Retired Executives [SCORE], and Veterans Business Outreach Centers [VBOCs]). The SBA's Office of Veterans Business Development (OVBD) also administers several programs to assist veterans. Congressional interest in the SBA's veteran assistance programs has increased in recent years primarily due to reports by veteran organizations that veterans were experiencing difficulty accessing the SBA's programs. Congress also has a continuing interest in assisting veterans, especially those returning from overseas in recent years, in their transition from military into civilian life. The unemployment rate (as of July 2017) among veterans (3.1%) was lower than for nonveterans 18 years and older (4.4%). However, the unemployment rate of veterans who have left the military since September 2001 (4.6%) was higher than for nonveterans. The expansion of federal employment training programs targeted at specific populations, such as women and veterans, has also led some Members and organizations to ask if these programs should be consolidated. In their view, eliminating program duplication among federal business assistance programs across federal agencies, and within the SBA, would result in lower costs and improved services. Others argue that keeping these business assistance programs separate enables them to offer services that match the unique needs of various underserved populations, such as veterans. In their view, instead of considering program consolidation as a policy option, the focus should be on improving communication and cooperation among the federal agencies providing assistance to entrepreneurs. This report opens with an examination of the economic circumstances of veteran-owned businesses drawn from the Bureau of the Census's 2012 Survey of Business Owners (SBO). It then provides a brief overview of veterans' employment experiences, comparing unemployment and labor force participation rates for veterans, veterans who have left the military since September 2001, and nonveterans. The report also describes the employment assistance programs offered by several federal agencies to assist veterans in their transition from the military to the civilian labor force and examines, in greater detail, the SBA's veteran business development programs, the SBA's efforts to assist veterans' access to capital, and the SBA's veteran contracting programs. It also discusses the SBA's Military Reservist Economic Injury Disaster Loan program and P.L. 114-38, the Veterans Entrepreneurship Act of 2015, which authorized and made permanent the SBA's recent practice of waiving the SBAExpress loan program's one time, up-front loan guarantee fee for veterans (and their spouse).