Findings

Congress finds the following: (1) According to the D’Aniello Institute for Veterans and Military Families August 2025 report entitled A Framework for Advancing and Strengthening the Veteran Entrepreneur Ecosystem — (A) veterans are more likely to own businesses than non-veterans; (B) veteran-owned businesses are less likely to close or fail than non-veteran owned businesses; and (C) the top barrier to entrepreneurship listed by veteran and military spouse entrepreneurs is a lack of access to capital or financing. (2) According to the Federal Reserve’s 2025 Small Business Credit Survey— (A) only 48 percent of majority veteran owned firms reported having sufficient financing for their businesses, compared to 57 percent of non-veteran owned firms; and (B) 25 percent of majority veteran owned firms, and 29 percent of partially veteran owned firms, were denied financing compared to 20 percent of non-veteran owned firms. (3) According to the Government Accountability Office’s 2025 report entitled Financial Literacy and Small Business Lending, Resources Available to Military-Affiliated People — (A) frequent moves, transition from active duty, and difficulties establishing credit and forming business relationships present barriers to accessing capital for veteran entrepreneurs; and (B) veteran entrepreneurs often lack personal startup funds or sufficient business income necessary for accessing capital.