Veterans Entrepreneurship Act of 2026

This bill establishes the Veterans Small Business Entrepreneurship Pilot Program , to be carried out by the Small Business Administration (SBA) Administrator in consultation with the Advisory Committee and the Secretary of Veterans Affairs. The three-year pilot program aims to assess the feasibility of providing grants to eligible veterans for starting or acquiring qualifying businesses. It mandates efficiency, accountability, competition, and geographic diversity, with a limit of 250 grants. The Administrator will define categories of qualifying businesses, including small business concerns and franchises. To be eligible, veterans must meet specific service requirements and be entitled to educational assistance under Chapter 30 or 33 of title 38. Applicants must submit a detailed plan for grant use, expected return on investment, and certify completion of mandatory entrepreneurship training. This training, which can be from various approved sources like Small Business Development Centers or VA programs, prepares veterans for business ownership. Group applications are permitted, with grant amounts scaled per member. Each grant recipient must prepare a comprehensive business plan , developed with an approved advisor and consistent with SBA guidelines, detailing how the enterprise will achieve profitability. Grant funds are disbursed in installments only after the veteran completes required training and their business plan is approved. Installments are paid every 3 to 12 months, contingent on meeting established milestones. The maximum grant amount is calculated based on the veteran's remaining educational assistance entitlement, plus additional monthly assistance tied to housing allowances and employment status, and potential training costs. Grant funds can be used for purchasing necessary goods/services, funding economic development projects, or acquiring a qualifying business. The Administrator is required to submit a report to Congress after two years, assessing the program's effectiveness, recommending permanence, and suggesting improvements for accountability and diversity.