Business

Ranking Members Luetkemeyer and Bost Release Joint Statement on Supporting Veteran-Owned Small Businesses

WASHINGTON, D.C. – Today, Ranking Member on the House Committee on Small Business Blaine Luetkemeyer (R-MO) and Ranking Member on the House Veterans’ Affairs Committee Mike Bost (R-IL) issued the following joint statement after sending a letter to the U.S. Government Accountability Office regarding access to capital for veteran entrepreneurs:

“Veterans have served our nation honorably on the battlefield and continue to serve their communities as small business owners. Supporting them through sound pro-growth policies should be the priority of all legislators. During National Veterans Small Business Week, we heard directly from veterans on the challenges facing veteran-run businesses, including access to capital. Both of our committees will continue to advance policies to empower our nation’s veteran entrepreneurs and to ensure the SBA is providing them with the tools they need to succeed.”

Background:

Representative Blaine Luetkemeyer is the Ranking Member of the House Small Business Committee. Ranking Member Luetkemeyer hosted a Veterans Small Business Showcase and Roundtable in November 2021 to explore ways to directly support veteran entrepreneurs in the small business economy and highlight House Republicans’ commitment to advancing our nation’s veteran-owned small businesses.

Representative Mike Bost is the Ranking Member of the House Veterans’ Affairs Committee. Ranking Member Bost spoke at the Veterans Small Business Showcase and Roundtable and joined Ranking Member Luetkemeyer in the effort to ensure veteran-owned small businesses are receiving the support they deserve.

This letter is a direct response to recommendations from veteran small business owners who participated in the Veterans Small Business Showcase and Roundtable.

Read the full letter here.

Read the Veteran Small Business Resource Guide here.

Read key excerpts from the letter:

“Dear Comptroller General Dodaro:

“During National Veterans Small Business Week, Committee on Small Business Republicans held a roundtable event highlighting veteran-owned small businesses. Through skills honed while serving their country, veterans across the nation are striving to serve their customers with the next great American product or service.

“As Ranking Member of the Committee on Small Business and as Ranking Member of the Committee on Veterans’ Affairs, we believe it is imperative to study and examine access to capital issues for all small businesses, including those owned and operated by veterans. Given the SBA’s role in assisting the nation’s job creators, it critically important to better understand how they are serving veteran-owned small businesses including how the SBA’s lending programs reach veteran-owned small businesses, and the work the SBA conducts toward improving outcomes for these business owners. To this end, we request that the Government Accountability Office conduct an analysis of the effectiveness and efficacy of the SBA’s access to capital programs specifically as it relates to veteran-owned businesses.  To the extent SBA has reliable data available, we ask that your analysis include, but is not limited to, the number of veteran-owned businesses participating in the SBA’s access to capital programs over time, and the comparison between veteran-owned businesses served and non-veteran owned businesses.”

Reprinted with permission from – House Small Business Committee Republicans – By House Small Business Committee Republicans


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