[Congressional Record Volume 141, Number 112 (Wednesday, July 12, 1995)]
[Extensions of Remarks]
[Pages E1414-E1415]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


               SMALL BUSINESS OPPORTUNITIES FOR VETERANS

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                     HON. RANDY ``DUKE'' CUNNINGHAM

                             of california

                    in the house of representatives

                         Tuesday, July 11, 1995
  Mr. CUNNINGHAM. Mr. Speaker, today I rise to support the creation of 
small business opportunities for veterans.
  Veterans are invaluable to the American economy and represent about 
20 percent of the small business owners in this country. Veterans have 
much to offer to our work force. They are well trained, dedicated, and 
extraordinarily disciplined workers. Despite having endured the trials 
and tribulations of war, veterans are resilient and eager to tackle new 
tasks. With all this in mind, it does not make sense that veterans are 
continuously discriminated against in the business world.
  There is a perception in the banking and financial industries that 
veterans are a higher 

[[Page E 1415]]
credit risk than non-veterans. Therefore, time and again, veterans are 
turned down for small business loans. I simply ask why? Nobody seems to 
know the answer. In fact, Mr. Frederick Terrell, managing director of 
First Boston Corp., testified before the House Committee on Veterans 
Affairs on March 13, 1993, that veterans are considered high risk loan 
applicants. However, when Mr. Terrell was asked for his reasoning, he 
could not fully explain his rationale. I do not understand why such 
discrimination exists in society. Shouldn't we have more respect for 
the men and women who helped America maintain its freedom?
  Mr. Speaker, many of my colleagues present today are veterans. As you 
may know, I am proud to be a Vietnam veteran. Not long ago, I 
experienced the difficulty of returning to a country that was divided 
over our endeavors in Vietnam. I was one of the lucky ones. All the 
veterans serving in Congress today are lucky to assist the people of 
the United States. It is no surprise, however, that most veterans are 
not so fortunate.
  I believe that veterans deserve fair or equal opportunities in the 
area of small business. Many young soldiers lost their lives in war. 
Others, often fighting for a cause they did not fully understand, 
returned from battle either emotionally or physically impaired. They 
were not always welcomed home with open arms. Rather, veterans were 
forced to endure years of persistent and obvious discrimination. I 
believe that the time has come to rectify this situation. First, we 
must respond by giving veterans the treatment they deserve with respect 
to their disabilities. Second, priority should be given to disabled 
veterans, Vietnam veterans, and P.O.W. veteran business owners, equal 
to that of other special consideration groups deemed worthy of 
Government assistance. Now is the time to return the spirit of freedom 
to the hearts of those who fought so valiantly for our country.
  In closing, I ask you to join me in support for national veterans 
business ownership opportunities.


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