HARRISBURG – A bill that would create a $5 million guaranteed loan program for veteran-owned businesses has passed the PA Senate by a unanimous vote. Senate Bill 830 establishes the Veteran-owned Business Loan Guarantee Program within the Commonwealth Financing Authority. The legislation guarantees that up to $250,000 shall be provided to commercial lending institutions that make loans to veteran-owned businesses. According to the U.S. Census Bureau, veteran-owned businesses make up about 5.9% of all businesses in the United States, with an estimated $947 billion in receipts, approximately 3.9 million employees, and about $177.7 billion in annual payroll. The measure will now go to the PA House.