Requires EDA to provide loans through small business loan program at lower interest rates, with more flexible repayment terms if issued to small businesses owned or controlled by certain veterans, and prohibit certain fees.

This bill (A4351) modifies New Jersey's Economic Development Authority (EDA) small business loan program to provide preferential terms for veteran-owned businesses. It requires the EDA to offer lower interest rates and more flexible repayment terms to eligible veteran-owned small businesses, including 0% interest for loans to businesses owned by veterans with service-connected disabilities. The bill prohibits the EDA from charging application, closing, or guarantee fees for these loans. To qualify, a business must be owned or controlled by veterans, with at least 50% of employees being veterans or meeting the service-connected disability criteria. The policy directly affects small businesses in New Jersey that meet these veteran ownership definitions.