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Support voiced for disabled veterans revolving‑loan fund to expand access to capital
Summary
Business and veteran witnesses urged the committee to advance House Bill 6767 to create a revolving loan fund for disabled‑veteran‑owned businesses, citing access to capital as a key barrier and recommending use of existing program infrastructure to reach veterans.
Business groups and veterans testified in favor of House Bill 6767, which would establish a disabled veterans business revolving loan fund to provide loans and grants to veteran‑owned businesses.
Paul Amaron, a public‑policy associate at the Connecticut Business and Industry Association, told the committee that the state has more than 2,300 disabled veterans who own businesses and that expanding revolving loan opportunities could help those businesses grow and hire. "Access to capital is one of the major impediments to veterans looking to grow their business," Amaron said, urging the committee to support HB 6767.
Witnesses suggested the state should leverage existing programs rather than create a standalone bureaucracy. Amaron recommended using existing workforce pipelines and programs—similar to the Women's Business Development Council model—to avoid duplicative outreach and to connect veterans with known funding channels.
Veteran witness Anthony DeChaccio (DeChaccio), a former sergeant who served in infantry and artillery units, described the bill as both an economic development tool and a statement of support for veterans. "This bill is an opportunity for the state to stand with the veteran community to spur economic growth and support successful businesses," he said, adding the fund would signal support to roughly 2,300 veteran‑owned small businesses in the state.
Committee members asked about eligibility thresholds and whether the fund's requirement that at least 75 percent of funds serve disabled veterans would allow use for other veterans. Amaron confirmed his reading of the bill language was that up to 25 percent could be used for non‑disabled veterans, based on the bill's wording.
No formal committee vote was taken on HB 6767 during the hearing.
