I thought this was a very good idea and wanted to revisit this after seeing some negative responses in a few forums (by vets). My understanding is that the American Legion supports it, but the Veterans of Foreign Wars (VFW) does not.
VFW's says that the purpose of the GI Bill is to provide education, training and the skills to help veterans succeed, not to provide business financing.
American Legion says that not every veteran will go to college and the benefits need to be more accessible for veterans that want to build a business.
Paralyzed Veterans of America also support the bill.