Earlier this week the United States Senate passed the Omnibus Appropriations Act. This Act provides nearly $547 Billion for the U.S. Small Business Administration. The passing of this Act is one of many bold gestures by the U.S. Government to revitalize the economy. It is hoped that the passing of this act will increase job creation within small businesses.
The Act covers two important provisions. The first is the capital programs. The program will support the 7(a) and 504 loan programs. Additionally, the program will contribute $21 million in microloan programs. The SBA will be able to guarantee bonds for small business contractors. The second important provision of the program is the contracting and counseling programs. The program will contribute more than $100 million for Small Business Development Centers. Other programs that stand to benefit include the Women Business Centers with an investment of over $13 million. Even the SCORE program will benefit through an investment of $5 million. I don’t know about you, but I am very excited about these investments in entrepreneurship. It has always been said that entrepreneurship is what makes our country great. The U.S. Government is proving that once more by its many programs to help bolster the economy.