Veterans Member Business Loan Act

House Bill

H.R. 507

119th Congress

Veterans Member Business Loan Act

In Committee

Introduced:Jan 16, 2025

Primary Sponsor

Vicente Gonzalez

Representative

Democratic

TX-34

Cosponsors

53

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill exempts business loans made to veterans from credit union member business loan caps. Currently, credit unions face aggregate limits on how much they can lend to businesses, but this carve-out would let them lend more to veteran-owned businesses.

Latest Action

Referred to the House Committee on Financial Services.

AI Summary

Plain-English explanation of this bill

This bill exempts business loans made to veterans from credit union member business loan caps. Currently, credit unions face aggregate limits on how much they can lend to businesses, but this carve-out would let them lend more to veteran-owned businesses.

Last updated: 1/5/2026

Official Summary

Congressional Research Service summary

Veterans Member Business Loan ActThis bill excludes from credit union aggregate loan limitations member business loans made to veterans.

Key Points

Main provisions of the bill

Exempts veteran business loans from credit union caps
Removes lending limits for loans to veterans
Helps veteran entrepreneurs access credit union financing
Expands credit union business lending capacity for vets
Supports veteran-owned small businesses

How This Impacts Americans

Potential effects on citizens and communities

Veteran business owners would have easier access to loans from credit unions, which often offer better rates than traditional banks. Credit unions support the measure as it lets them serve veteran members without hitting regulatory lending caps.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

507, 119th Congress (2025). "Veterans Member Business Loan Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-507