America's SBDCs Applaud US House Passage of HR 5485, Financial Services Appropriations Bill

BURKE, Va., July 8, 2016 /PRNewswire-USNewswire/ -- Today the US House of Representatives passed HR 5485, the Financial Services and General Government Appropriations for FY2017.  This bill, which funds the US Small Business Administration, includes $130 million in support for the 63 Small Business Development Center (SBDC) networks and their nearly 1,000 centers across the United States and in DC, Puerto Rico, the Virgin Islands, Guam and American Samoa. 

"We particularly want to thank Financial Services Subcommittee Chairman Ander Crenshaw for his support. This funding increase will enable SBDCs to expand and improve our ability to assist small businesses nationwide, small businesses that are the vital foundation of our national economy.  Every day small businesses face challenges with access to capital, sales, marketing, and a host of other issues. This funding will make sure that SBDCs are there to help them grow and create jobs," said C. E. "Tee" Rowe, President/CEO of America's SBDC.  "This legislation is a great example of support for small business and SBDCs in the US House of Representatives."

Last year SBDCs helped small businesses create 98,000 new jobs, access over $4.8 billion in capital, and create over $7 billion in new sales. SBDCs provided over 1.3 million hours in counseling services to over 196,000 small businesses.

About America's SBDC and Small Business Development Centers: America's SBDC represents the Nation's 63 Small Business Development Centers, a national network of partnerships uniting higher education, state and local nonprofit economic development organizations, private enterprise and government. It is the Small Business Administration's largest partnership program, providing management and technical assistance to help Americans start, run and grow their own businesses. Learn more at www.AmericasSBDC.org

April Youngblut | (703) 408-5403

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SOURCE America's SBDC