IL SB3817

Adds "veteran" to the definition of Build Illinois Act provisions covering minority, female, and disability small business loans, establishing veterans as an eligible category for special financing assistance.

Defines "veteran" as an Illinois resident who has served in the United States Armed Forces on active duty or State active duty, Illinois National Guard, or United States Reserve Forces and received an honorable discharge.

Allows the Department of Commerce and Economic Opportunity to use different lending criteria for veteran-owned small businesses, including reduced security valuation requirements if applicants demonstrate adequate business experience or entrepreneurial training.

Authorizes loans to veteran-owned small businesses up to $100,000 or 50% of business project costs, unless the Director determines a waiver is necessary to meet Act purposes.