Good morning, Chair and honourable members of this committee. Thank you for welcoming me back to testify. I appreciate the seriousness with which this committee approaches veterans affairs.
My name is Fraser Zerebecki. I served in the Canadian Armed Forces for 10 years, from 2007 to 2017. I joined as a high school-educated private at the age of 22, and I released as a corporal and disability beneficiary. In 2009, I deployed to Afghanistan as a frontline soldier and combat engineer.
Like many veterans, my transition out of uniform was difficult, and like many veterans, it was also marked by achievement. Those two things often coexist. Veterans who complete demanding training, operational tours and leadership courses tend to share certain traits: exceptional drive, a high tolerance for risk and deeply ingrained character attributes forged under pressure, as well as discipline, accountability, mission focus and loyalty. Veterans are not short on ability. We are short on access.
As I began my transition, I started a design company to support my family while still serving and during my release period. I received no business support from Veterans Affairs or from the Canadian Armed Forces. That business ultimately folded when I reached final release. I used my education and training benefit to complete a graduate certificate in project management, and after graduating, I entered the custom homebuilding industry as a project manager.
The company I worked for struggled. An opportunity arose for me to purchase that business and become an entrepreneur. I had experience. I had a plan. What I did not have was access to capital. No lender would finance me. There were no veteran-specific pathways, no shared-risk models and no institutional support. That opportunity passed because of a lack of access.
I entered the public service, working at Service Canada and at the Canada Revenue Agency.
Recognizing gaps in my business knowledge, I later entered the Ivey Business School executive MBA program and graduated in 2022. That education led me into health care operations, where I worked in an executive role supporting independent dental practices. The experience revealed something very important to me. Dentists, like veterans, often lack formal business training, but unlike veterans, dentists have access to capital. Banks lend to them readily. Veterans, by contrast, either cannot borrow at all or are offered terms that place exceptional risk on the individual.
I'm currently building a third business. It's still in start-up mode, and it will take years to become viable. This is the reality many veterans face. We have very strong ideas. We work relentlessly, but we start from zero. We bankroll our own ventures. We discover gaps in competence, training and education only after making costly mistakes.
The reality is that repeated business failures combined with employment insecurity carry consequences far beyond the balance sheet. I lost my home. The financial strain contributed to the end of my marriage and placed sustained stress on my three daughters. I share this not for sympathy but because it reflects a pattern I have seen repeatedly among veterans: attempting entrepreneurship without institutional support.
I've been fortunate to move across sectors. I've been a college professor, a hospital board member and a leadership consultant. I worked with Pathfinder Leadership Associates, bringing military leaders into advisory and leadership development roles for organizations such as the Ivey Business School and the Business Development Bank of Canada. Through those experiences, I saw a model that does work. BDC provides funding alongside executive advisory support and education. It's a long-term relationship. It's not charity. It's investment.
This brings me to my central recommendation.
I'm not here to suggest adding another benefit through Veterans Affairs. I'm proposing the creation of a federal bank dedicated to veterans and veteran entrepreneurship. Entrepreneurship is about growth, investment and shared risk.
I envision three streams.
The first would be accessible financing for veterans willing to take risk, but it would be at terms that allow businesses to survive: low-interest lending, deferred-interest options and rates that do not cripple start-ups.
The second would be grant funding for ventures that provide broader public benefit to Canadians.
The third would be a shared-equity development stream where the bank provides capital and advisory support in exchange for equity. In this model, the government becomes a true partner with veterans. The risk is shared. The upside is shared. Canadians benefit when veteran-led businesses succeed.
Alongside this, education benefits must be strengthened. Veterans often take longer to determine their post-service path. Supports should remain accessible throughout a veteran's life. Successful veteran-led businesses create jobs. They strengthen families. They contribute to economic stability and community well-being.
Thank you for your time. I welcome your questions.