New Jersey A873 requires the Economic Development Authority to allocate at least 12% of small business loans to veterans.

New Jersey A873 mandates that the Economic Development Authority (EDA) administer a small business loan program, ensuring that at least 12% of all loans in any calendar year go to small businesses owned or controlled by veterans. Priority is given to veterans with service-connected disabilities. The EDA must consult with the Department of Agriculture for eligible farming operations and value-added dairy products. Loans can support capital purchases, employee training, and salaries. The bill takes effect immediately.

New Jersey A873 requires the Economic Development Authority to allocate at least 12% of small business loans to veterans.

New Jersey A873 mandates that the Economic Development Authority (EDA) administer a small business loan program, ensuring that at least 12% of all loans in any calendar year go to small businesses owned or controlled by veterans. Priority is given to veterans with service-connected disabilities. The EDA must consult with the Department of Agriculture for eligible farming operations and value-added dairy products. Loans can support capital purchases, employee training, and salaries. The bill takes effect immediately.