ICYMI: Former CBA Small Business Committee Chair Speaks At Veterans Small Business Showcase and Roundtable On Capitol Hill

November 5, 2021
Billy Rielly

 

Yesterday, Richard Foster, who recently completed a two-year term as Chair of the Consumer Bankers Association (CBA) Small Business Committee, participated in a Veterans Small Business Showcase and Roundtable hosted by House Committee on Small Business Ranking Member Blaine Luetkemeyer (MO-03) to commemorate National Veterans Small Business Week. Foster is an Executive Vice President and Regional Sales Manager with over 33 years of service focusing on Small Business Lending at Frost Bank, headquartered in San Antonio, Texas.

Commenting on the challenges some veteran small business owners face when seeking financing options to expand their operations, Foster encouraged the Small Business Administration (SBA) to pursue initiatives aimed at increasing access to credit for those who volunteered to defend our nation, stating:

“The SBA should consider implementing a Veterans-only program that will allow for ZERO fees and guarantees set at 90% for lenders. These provisions would mitigate the credit issues so many of our veterans are facing while also strengthening their ability to grow their small businesses, create jobs, and achieve their American Dream.”

Recognizing the shared mission of CBA and its members to support veteran small business owners, Richard Hunt, CBA’s President and CEO said:

“America’s leading banks are fully committed to ensuring our nation's veteran entrepreneurs have access to the financial tools they need to drive our economic recovery forward. CBA is fortunate to have leaders like Richard, whose unwavering support for veteran-owned small businesses reflects the best of our industry.”

As the organizer of yesterday’s event, House Committee on Small Business Ranking Member Blaine Luetkemeyer said in conclusion:

"This week and every week, we celebrate the millions of Americans who have dedicated their lives to keeping the United States safe and preserving our freedoms. As Republican Leader of the House Committee on Small Business, it was an honor to hear firsthand from our nation's resilient veteran small business owners and learn how we can support them in the small business economy. (We) will continue to advance policies that empower our veteran entrepreneurs in their communities and provide veteran-owned small businesses with the tools they need to thrive on Main Street U.S.A."

Background

The Veterans Small Business Showcase and Roundtable included 15 veteran-owned small businesses from across the country, small business resource partners, and Members of Congress who heard firsthand about the challenges veteran entrepreneurs face and discussed policies to support their small businesses. House Republicans reiterated their commitment to advancing policies that empower our nation's veteran entrepreneurs and remain dedicated to providing veteran-owned small businesses with the tools they need to get back on their feet and prosper on Main Street U.S.A. As the only banker who participated in yesterday’s event, Richard Foster drew on his small business lending experience at Frost Bank, which is proud to serve veterans from the four military bases in their hometown of San Antonio and across every community they serve. 

About CBA's Small Business Committee

CBA’s Small Business Committee is focused on education, legislation and benchmarking for small business banking. The Committee is dedicated to taking a leadership role in providing CBA members with networking opportunities and an appropriate open forum for discussing best practices and emerging trends.                       

The Committee's goals are to:

  • Facilitate and support legislation to enhance the continued growth of products and services designed for the small business owner. 
  • Provide reliable data to industry and lawmakers on small business banking trends in order to properly assess and advance the interests of today’s small business owner.  
  • Develop well organized and structured conference programming in order to provide for well-informed small business bankers.