"He clearly understands the value of small businesses," McMahon said of the 30 million small businesses in the U.S.
She said the money will be used in SBA's veterans program called Emerging Leaders. This program will be a seven month intensive training that helps veterans transition from military life into the private sector.
The president earns a total annual salary of $400,000.
Since taking office, Trump has donated his quarterly salaries to various government departments such as Veterans Affairs, Transportation, Health and Human Services, National Park Service and the Education department.
But, that will all change according to the 2019 budget proposal the Trump administration released in February.
According to this Washington Post report, the proposed changes to funding in Trump's budget will make cuts to executive departments and agencies, including SBA's funding by 25%, in order to pay for additional defense spending, the border wall and an infrastructure plan.