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 (S 866) requires New Jersey's Economic Development Authority (EDA) to provide small business loans with preferential terms to veteran-owned businesses. Specifically, it mandates lower interest rates and more flexible repayment terms for businesses where over 50% of employees are veterans, and sets interest at 0% for businesses owned by veterans with service-connected disabilities. The EDA must also eliminate all fees (application, closing, etc.) for these veteran-owned businesses. The policy directly affects small businesses in New Jersey owned or controlled by veterans, aiming to improve access to capital through the state's existing small business loan program.