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.

S 1341 requires New Jersey's Economic Development Authority (EDA) to offer small business loans with lower interest rates and more flexible repayment terms specifically to veteran-owned small businesses. It mandates that businesses where over 50% of employees are veterans receive preferential terms, and eliminates all fees (application, closing, etc.) for these loans. Additionally, businesses owned by veterans with service-connected disabilities qualify for 0% interest rates. This bill directly affects eligible veteran-owned small businesses in New Jersey seeking EDA financing under the existing small business loan program.