SB324

  • jbt 041118 3PLAINFIELD – Illinois veterans are taking advantage of a program championed by State Senator Jennifer Bertino-Tarrant (D-Shorewood) to provide veterans with the tools to launch new businesses.

    Due to a loan from the Illinois business program, Captain Jon Glass, an Army combat veteran paratrooper, recently purchased the iconic Glenwood Oaks restaurant in Glenwood.

    “Veteran-owned businesses are important to our state’s economy,” Bertino-Tarrant said. “This new program will help our veterans get their businesses off the ground by equipping them with the tools to be successful.”

    The Illinois veterans’ business loan program allows the Illinois Finance Authority to offer an increased number of low-interest loans to veterans to create new businesses.

    “Our military veterans have worked hard to protect us,” Bertino-Tarrant said. “Now is the time for us to honor their sacrifices.” 

    Captain Glass is currently the head chef at the Glens restaurant in the northern suburbs. He is married with five children and is active in his church community.

    Bertino-Tarrant’s Senate Bill 324 launched the program through the Illinois Finance Authority, which now allows veterans to apply for and receive business loans.

    She worked on developing this loan program with Lynn Lowder, a former Marine officer and advocate for veterans becoming small-business owners. The program would be similar to agribusiness and farming programs administered by the state treasurer.

    Bertino-Tarrant urges veterans to visit www.il-fa.com to learn more about this veteran loan program or contact her Plainfield office at (815) 254-4211 for more information.

  • jbt vetloanSPRINGFIELD— Legislation that will help veterans become business owners was signed into law Friday by the governor. 

    Senate Bill 324, sponsored by Bertino-Tarrant, will create a program at the Illinois Finance Authority that would allow veterans to apply and receive a business loan. The program will be similar to agribusiness and farming programs administered by the State Treasurer.

    “Despite having leadership abilities and valuable skills from their time in the service, fewer and fewer veterans have the opportunity to go into business for themselves,” Bertino-Tarrant said. “We need to have programs in place that help veterans become business owners. This initiative is a key part of giving our veterans the resources they need to own a business, create jobs for others and fulfill their potential.”

  • haine vetloanSPRINGFIELD— Legislation that would help veterans become business owners was passed out of the Illinois Senate Thursday.

    The measure, Senate Bill 324, would create a program at the Illinois Finance Authority that would allow veterans to apply and receive a business loan. The program would be similar to agribusiness and farming programs administered by the state treasurer.

    State Senator Bill Haine (D-Alton), who is the chief co-sponsor of the measure, said that this initiative would help veterans to receive start-up capital they need to start their own businesses.

    “This legislation would create a great program to help those who have served our country. There are so many veterans out there who face adversity when they return from service,” Haine said. “These are people who have great leadership skills, yet lack the resources to funnel those skills into a career that works for them. This measure would provide that avenue. I am happy to be a sponsor of this initiative, and I am happy be able to give back to the veteran community.”

    Today, less than 7 percent of returning veterans own their own businesses.

    Nearly 550 service members transition from military to civilian life each day, and an estimated 1 million veterans will settle into communities across our country within the next three to five years. This plan would help veterans readjust.

    The measure was introduced by Senator Bertino-Tarrant (D-Shorewood). It passed the Senate on Thursday and will now go to the House for consideration.

  • jbt vetloanSPRINGFIELD— Legislation that would help veterans become business owners was passed out of the Illinois Senate today by State Sen. Jennifer Bertino-Tarrant (D-Shorewood).

    “There are many veterans who heroically serve our nation, gain valuable leadership and management skills yet can have a hard time starting a new career when they come home,” Bertino-Tarrant said. “My plan would help our veterans get the start-up capital they need to start their own businesses and create jobs for others.”

    Bertino-Tarrant is working on her proposal with Lynn Lowder, a former Marine officer and advocate for veterans becoming small-business owners.

    “In the nine years following World War II, 50 percent of veterans ended up in business for themselves,” Lowder said. “Unfortunately, fewer veterans now are able to start a business. This initiative is the key missing piece that would give our veterans the tools they need to become entrepreneurs.”

    Today, less than seven percent of returning veterans own their own businesses.

    Nearly 550 service members transition from military to civilian life each day, and an estimated 1 million veterans will settle into communities across our country within the next three to five years.

    “When our veterans come home, we need to make sure our veterans have the full support of our state as their service deserves,” Bertino-Tarrant said.

    Bertino-Tarrant is sponsoring Senate Bill 324 that would create a program at the Illinois Finance Authority that would allow veterans to apply and receive a business loan. The program would be similar to agribusiness and farming programs administered by the State Treasurer.

    Bertino-Tarrant advanced Senate Bill 324 out of the Illinois Senate today. It will now go to the Illinois House for approval.