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A 873NEW JERSEYSession 222State Billin committee

New Jersey directs 12 percent of Economic Development Authority small business loans to veteran-owned businesses

Original title: Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.

Last action · January 13, 2026: Introduced, Referred to Assembly Commerce and Economic Development CommitteeSponsors: Gerry Scharfenberger and 3 others

Companion · S 2426same policy, Senate version
Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
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What This Bill Would Do

Legislation requires the New Jersey Economic Development Authority to ensure that at least 12 percent of all direct small business loan funds in any calendar year go to businesses owned or controlled by veterans. Priority within this quota is given to businesses owned or controlled by veterans with service-connected disabilities.

Why it matters

Changes lending targets for state economic development funds, setting a specific annual percentage floor for veteran-owned enterprises seeking capital for capital purchases, employee training, or salaries.

Background
  • The New Jersey Economic Development Authority is the state's principal agency for driving economic growth and administering various financial assistance programs for businesses. context

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

veteran-owned small businesses

Eligible small businesses owned or controlled by veterans gain a dedicated annual lending target of at least 12 percent of direct loan funds, with priority for those having service-connected disabilities.

Directly affected

New Jersey Economic Development Authority

The authority is required to administer the small business loan program to meet the 12 percent veteran loan allocation target to the greatest extent practicable.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What percentage of small business loan funds are required to go to veteran-owned businesses?
At least 12 percent of all moneys directly loaned to eligible small businesses in any calendar year must go to businesses owned or controlled by one or more veterans.
Who qualifies as a veteran under this loan program?
A veteran is defined as any resident of New Jersey who has been honorably discharged or released under honorable circumstances from active service in any branch of the United States Armed Forces.
Which veteran-owned businesses receive priority for these loans?
Priority is given to businesses owned or controlled by veterans who have been declared by the United States Department of Veterans Affairs or the United States Department of Defense as having a .

What else do you want to know?

News Coverage

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Where This Stands

Currently in committee. The next step in the legislative lifecycle is Floor Vote.

Procedural history

1 action
  1. Jan 13, 2026HouseIntroduced
    Introduced, Referred to Assembly Commerce and Economic Development Committee

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Sponsors

Gerry ScharfenbergerAssemblyRepublicanPrimary sponsor
Alex SauickieAssemblyRepublicanPrimary sponsor
Flynn, Victoria A.CosponsorNo profile match
Dawn FantasiaAssemblyRepublicanCosponsor

Connected Entities

Victoria A. Flynn, United States Department of Defense, United States Department of Veterans Affairs and 4 more
PersonVictoria A. Flynn“Assemblywoman co-sponsoring the bill”Map →
OrganizationUnited States Department of Defense“Declares service-connected disabilities for veterans”Map →
OrganizationUnited States Department of Veterans Affairs“Declares service-connected disabilities for veterans”Map →
OrganizationNew Jersey Economic Development Authority“Administers the small business loan program under state law”Map →
PersonGerry Scharfenberger“Assemblyman sponsoring the bill”Map →
PersonDawn Fantasia“Assemblywoman co-sponsoring the bill”Map →
PersonAlex Sauickie“Assemblyman sponsoring the bill”Map →

Sources

Open source document

njleg.state.nj.us

Analysis Score

0–100
  • Significance45
    How much this matters to a regular citizen
  • Controversy10
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz20
    Current news / social attention level

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