WASHINGTON, D.C (June 4, 2025) |
Ahead of today’s House Small Business Committee hearing, “Budgeting for Growth,” the Defense Credit Union Council (DCUC) sent a letter advocating for the swift passage of the Veterans Member Business Loan Act (VMBLA) and modernization of the SBA 7(a) Loan Program to support veteran entrepreneurs.
In the letter, DCUC stressed how outdated restrictions are hindering the ability of credit unions to fully support veteran-owned small businesses—many of which struggle to access capital despite being critical to the American economy.
“Veteran entrepreneurs embody the same values they demonstrated in service—leadership, resilience, and innovation. They deserve more than just gratitude; they deserve access to the tools needed to thrive,” says Anthony Hernandez, DCUC President/CEO. “Passing the Veterans Member Business Loan Act would immediately unlock new sources of capital and help grow businesses that strengthen communities and create jobs.”
Veteran-owned businesses represent 1.76 million enterprises across the U.S., generating nearly $1 trillion in revenue and employing over 5 million Americans. Yet, these businesses are more likely to face loan denials, credit limitations due to military service, and financial vulnerability from reliance on personal savings.
DCUC’s letter also highlighted the Member Business Lending (MBL) cap—a regulatory restriction that limits how much credit unions can lend to small businesses, regardless of member need or local demand.
“Credit unions serving veteran communities are ready to do more—but their hands are tied by an arbitrary lending cap that doesn’t reflect market realities or member needs,” adds Jason Stverak, DCUC Chief Advocacy Officer. “By exempting veteran-owned businesses from this cap and streamlining SBA programs, Congress can give our veterans the opportunity to build, grow, and lead in the civilian economy.”
In addition to calling for the passage of H.R. 4867/S. 539, DCUC urged lawmakers to modernize SBA lending programs and ensure regulatory fairness that enables credit unions to compete on equal footing with other financial institutions.
For more information, please contact Jason Stverak at jstverak@dcuc.org and visit dcuc.org/advocacy.