SERV Act

Mr. Speaker, I thank the gentlewoman from New York (Ms. Velazquez) for yielding.

Mr. Speaker, I rise today to speak in strong support of the Successful Entrepreneurship for Reservists and Veterans Act, or the SERV Act, which I introduced alongside my friend and colleague from Missouri (Mr. Alford).

The SERV Act not only honors our veterans; it honors their service. It empowers our veterans to embark on a new chapter as entrepreneurs and small business owners.

My mom served in the Army for 20 years. My grandfather served, as well. Through them, I learned so much about service, about leadership, and certainly about the dedication to country.

Our veterans have defended our freedoms from so many things and with unwavering commitment. We absolutely owe it to them to provide the support that they need to achieve personal and professional success as they return home.

The SERV Act is a testament to that commitment that we have to the brave veterans that have served, and it is necessary because veterans do face distinct barriers when transitioning to civilian life, specifically when starting a business.

Those challenges can include overcoming stigmas around physical disability or post-traumatic stress disorder, as well as difficulty accessing credit. It forces small businesses to sometimes turn to alternative lenders, which can be predatory or more expensive than traditional sources. While those challenges exist for all potential entrepreneurs and our small business owners, it can be especially difficult for our veterans who often have trouble accruing credit necessary to attract and attain capital.

These barriers have led to a 35 percent decrease in veterans starting small businesses since World War II, and the U.S. Small Business Administration currently works closely with the VA and the Department of Defense on several excellent programs that we heard about from my colleague, Mr. Alford, specifically designed to help our veterans transition to civilian life and entrepreneurship, but those programs are not always as easy to find as they should be.

The SERV Act recognizes those unique challenges and works to address them directly, fostering economic growth at the local level and harnessing the immense potential that our veteran communities have.

One key provision of this legislation is the commission of a Government Accountability Office report on the ability of veterans and reservists to access capital and credit, which are crucial building blocks to opening a business.

This report would include analysis on common sources of credit and how deployment of credit impacts our servicemembers and their individual credit.

Moreover, the bill requires an Interagency Task Force at the SBA to develop an action plan for greater outreach of programs that already exist for veterans transitioning into the business world. That task force would report its findings annually to Congress on how the SBA can better support veterans, service-disabled veterans, reservists, and their families.

The district I represent in Kansas includes a large rural population, and we know that businesses with fewer than 500 employees account for a majority of our rural establishments and employers.

By supporting our veteran entrepreneurs and making it easier for them to start small businesses, we are boosting local economies in both urban and rural settings. I often say that due to the specialized training and learned skill set, there are few people that are as well suited to start and operate a small business as our veterans.

The SERV Act is going to help those folks who served in uniform do just that. By providing enhanced access to SBA resources and programs, we are investing in the entrepreneurial spirit of our veterans. We are fostering economic growth. We are strengthening our communities.

Mr. Speaker, I urge my colleagues, alongside my friend, Mr. Alford, on both sides of the aisle to stand united in support of this crucial legislation which did pass the House in a largely bipartisan way in the last Congress.

Let us send a powerful message to our veterans that we appreciate their service, their sacrifice, and that we are dedicated to helping them succeed in their endeavors, both while serving and after they hang up their uniform.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I am pleased to support H.R. 4480, the Successful Entrepreneurship for Reservists and Veterans Act, also known as the SERV Act, as amended.

Veteran entrepreneurs are powerful economic engines and job creators. More than 2.4 million veteran businessowners employ more than 5.7 million Americans and contribute approximately $1.2 trillion annually to our GDP.

With that said, one of the biggest challenges facing veteran-owned small businesses is access to capital. Servicemembers report that it can be difficult to build credit while serving in the military, and studies have shown that a higher percentage of veterans are turned down for loans.

The SERV Act requires GAO to conduct a study on the availability of credit to veteran-owned, service-disabled-, and reservist-owned small businesses. The study would provide a report on the obstacles facing veterans, including the extent to which deployment and other military responsibilities affect their credit histories.

Most importantly, it requires the SBA Interagency Task Force on Veterans Small Business Development to create an outreach plan to promote the many valuable programs available to help veteran small business owners.

Representative Davids has been a staunch supporter of efforts to aid veteran entrepreneurs. She first introduced this legislation in the 116th Congress, and it passed the House with broad bipartisan support.

As the chairwoman of the Subcommittee on Economic Growth, Tax, and Capital Access in the 117th Congress, she led efforts to make capital more affordable for all small firms.

Mr. Speaker, I strongly support this bill to ensure Congress is working to address the challenges veteran small employers face, and I reserve the balance of my time.

Mr. Speaker, I yield such time as she may consume to the gentlewoman from Kansas (Ms. Davids).

Mr. Speaker, our country is experiencing a small business boom and veteran entrepreneurship is helping to lead the way.

SBA offers a number of counseling and training programs that can help them either launch or grow a small business. It is vitally important that we increase the awareness of SBA programs and services, particularly among veterans.

I applaud Ms. Davids and Mr. Alford for their commitment to our Nation's veterans, and I urge my colleagues to support H.R. 4480, as amended.

Mr. Speaker, in closing, I thank Chairman Williams for bringing these six bills to the floor and for working in a bipartisan manner. I yield back the balance of my time.

Mr. Speaker, I rise today in favor of H.R. 4480 because, as Members of Congress, it is our duty to protect and support our Nation's veterans.

Earlier this year, it was my distinct pleasure to have Lieutenant Commander Taylor Burks of Missouri's Fourth Congressional District and a former opponent of mine in the primary for this very congressional seat, testify at a Small Business Committee hearing on veteran entrepreneurship.

We learned not only about the unique skill set veterans can bring to the small business environment, but also the obstacles they face when trying to open small businesses and live out the American Dream and the challenge of even finding the programs available through the Small Business Administration.

It was very important for all Members to hear how the committee and the Small Business Administration can better serve those who have served our great Nation.

As a result, my colleague Representative Sharice Davids of Kansas and I introduced the Successful Entrepreneurship for Reservists and Veterans, or SERV Act.

This bipartisan legislation, which passed through the Small Business Committee unanimously, will help veteran small business owners and entrepreneurs succeed by studying the barriers when starting a business.

This bill will commission a report on the outreach and promotion of existing veteran-focused small business programs to make sure that veterans can access all available resources, capital, and credit.

There are programs out there, but a lot of veterans have never heard of them, such as the Veterans Business Outreach Centers, the Boots to Business program, and service-disabled veteran-owned small business contracting programs.

This legislation also mandates the Interagency Task Force on Veterans Small Business Development to devise an outreach and promotion strategy for these programs and many others available to veterans transitioning into the business world.

Veterans' service to our Nation should not end with difficulties in accessing capital and resources. With transparency and increased reporting, we can better ensure that they receive the support that they deserve.

I am proud to co-lead the SERV Act with my neighboring district Representative and colleague, Congresswoman Sharice Davids of Kansas, to promote veteran entrepreneurship in our great Nation.

This bill is a win for our districts. It is a win for veterans. It is a win for our Nation.

Mr. Speaker, I urge all my colleagues to support this commonsense legislation.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 4480) to require the Administrator of the Small Business Administration to report on the veterans interagency task force, to require the Comptroller General of the United States to report on access to credit for small business concerns owned and controlled by covered individuals, and for other purposes, as amended.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the bill.

Mr. Speaker, I rise in full support of H.R. 4480, also known as the SERV Act, introduced by Representatives Davids of Kansas and Alford of Missouri.

Our Nation's veterans have an incredible impact on our small business community. The skills veterans gained in the military make them leaders uniquely positioned to start and grow successful businesses. Unfortunately, veterans often face barriers when starting or growing their businesses which can feel insurmountable. In May, the Committee on Small Business heard directly from veterans on how access to capital as well as awareness of available resources are major barriers to them.

The SERV Act seeks to identify these barriers and directs the Interagency Task Force on Veterans Small Business Development to create an action plan to improve outreach to veterans informing them of available resources to address their unique needs. If we are spending taxpayer dollars to help these individuals, then we must ensure they are making the greatest impact possible.

Mr. Speaker, I, once again, thank the sponsors of this legislation, I urge my colleagues to support it, and I reserve the balance of my time.

Mr. Speaker, I yield such time as he may consume to the gentleman from Missouri (Mr. Alford).

Mr. Speaker, I am prepared to close, and I reserve the balance of my time.

Mr. Speaker, H.R. 4480 is a step in the right direction. It is about our veterans, and what is more important than our veterans. Congressman Alford and Congresswoman Davids have it right. It needs to be passed. We need to pass it tonight.

Mr. Speaker, I thank Ranking Member Velazquez for her support, and I yield back the balance of my time.