The Veterans’ Entrepreneurial Transition Business Benefit Act (HR 114) would allow veterans to use the education benefits they’ve earned under the Montgomery G.I. Bill (This bill does not include the Post 9/11 G.I. Bill) to help launch their own businesses. Currently, this benefit can only be used for education and training.
But, not every veteran plans to go to college or learn a trade for a civilian career. For veterans who want to run their own business, the bill -- which has been stalled since Jan. 9, 2009 in the House Veterans’ Affairs Committee’s economic opportunity panel – offers a way for them to take advantage of the benefits they’ve earned.
The federal government already offers entrepreneurial training programs as well as small business financing programs for vetrepreneurs. The real boon offered by this bill comes in the fact that the payments would help a business owner cover personal expenses and family costs while trying to make the business profitable – especially during the crucial first few years.
Rep. Jeff Fortenberry, (R-Neb) sponsored HR 114 and plans to extend this same benefit to the Post 9/11 GI Bill. To learn more about this bill click here.
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