“Small businesses are the backbone of our economy,” said Congressman Hinojosa. “And I am deeply committed to supporting the spirit of entrepreneurship that propels our small businesses. The legislation we passed today is crucial to getting us out of this financial downturn.”
“The legislation, part of our agenda to create jobs, marks the first major overhaul of the Small Business Administration’s entrepreneurial development programs in a decade. It expands and improves some of the most successful programs, such as Small Business Development Centers, Women’s Business Centers and the Service Corps of Retired Executives. The bill also creates new online learning programs and establishes grant programs to assist small firms in securing capital and credit.
“These programs are some of the smartest investments we can make in our economy,” explained Hinojosa. “For every dollar we spend on a successful entrepreneurship program, we see a $2.87 return to the Treasury. Last year alone, these development programs created 73,000 jobs.”
The legislation also establishes, for the first time, a nationwide network of Veterans Business Centers to provide specialized entrepreneurial training and counseling to our nation’s veterans.
“We are not only taking care of those who are struggling to get their small businesses through this economic crisis, but we are also providing resources for out-of-work Americans who want to make entrepreneurship their next career move.” said Hinojosa. “This Congress is committed to putting Americans back to work, and with this bill, our small businesses can lead the way.”