Governor Quinn Signs Legislation to Improve Veterans’ Access to Small Business Loans

Governor Quinn Signs Legislation to Improve Veterans’ Access to Small Business Loans
Governor Pat Quinn today signed a bill into law that improve access to credit for small businesses Illinois' Veterans. The current state small business loan program provides assistance for entrepreneurs, minorities, women or people with disabilities. The new law expands the eligibility for this loan program, veteran small business in the hand.

"Small businesses employ millions of people in Illinois and are the backbone of our economy - we must do everything we can to support them," said Governor Quinn. "This important new law will help create jobs and help small businesses by the brave men and women who served this country ownership."

Senate Bill 3817 expands eligibility of the State's minority participation, women and disabled participation Loan Program (MWD / PLP) for small business at least 51 percent owned and managed a resident of an Illinois who, as a member of the United States Armed Forces and served, are given a honorable discharge. The law was sponsored by Senator Linda Holmes (D-Plainfield) and Rep. Carol Sente (D-Vernon Hills).