Bill > HB1562

This bill modifies provisions for veteran-owned small businesses participating in the state treasurer's linked deposit loan program. Under the revised law, veterans who receive a small business loan will be required to complete a "boots-to-business" program approved by the department. After loan approval, the veteran business owner will be assigned a mentor for 365 days, with mandatory meetings at least once every 90 days. The department is granted the authority to establish and approve both the boots-to-business programs and mentor programs, and may adopt rules to implement these requirements. The bill maintains standard legislative provisions requiring that any new rules comply with existing state administrative procedures. The key changes appear to be adding more structured support and mentorship for veteran business owners who receive state-backed loans, potentially to help improve their chances of long-term business success.

https://house.mo.gov/Bill.aspx?bill=HB1562&year=2025&code=R