NY A06140

Amends the New York state urban development corporation act to require the small business revolving loan fund to target and market to veteran-owned enterprises and service-disabled veteran-owned enterprises, in addition to existing minority and women-owned enterprises.

Defines veteran-owned enterprises according to 15 U.S.C. section 632(Q)(3) and service-disabled veteran-owned enterprises according to article three of the veterans' services law.

Maintains existing loan program parameters including micro loans under $25,000 and regular loans of at least $25,000, with maximum program funding of $125,000 and not exceeding 50 percent of the principal loan amount.

Ensures veteran-owned and service-disabled veteran-owned enterprises accessing these program loans remain eligible for short-term financing loans under the program.

Takes effect immediately upon enactment.