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VELDA SUEVenture Enhancement & Loan Development Administration for Smaller Undercapitalized Enterprises
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I have a proposal which I call "Velda Sue" which would provide the same kind of catalyst for small business finance that existing mechanisms like Fannie Mae and Freddie Mac have long provided for our housing sector.
Velda Sue would rely upon the nation's network of private sector lenders to process and service loans to the small business sector.
Velda Sue is intended to be a supplement to the current SBA programs, not a competitor.