House Passes Representative Angie Craig’s Bipartisan Legislation to Support Emerging Small Businesses
WASHINGTON, DC – This week, the U.S. House of Representatives passed Angie Craig's bill to strengthen and improve the Small Business Administration's SCORE Program with bipartisan support. The SCORE for Small Business Act of 2022, which Craig introduced alongside Republican Representative Young Kim (CA-39), would reauthorize the SCORE program, which provides education and mentorship services for entrepreneurs. The legislation provides $13.5 million in annual funding for the next two years to expand counseling and training programs to provide online webinars, electronic mentoring platforms and online toolkits to better serve small businesses – while also supporting efforts to prevent abuse and misuse of federal funds.
"The real-world, experienced mentorship that the SCORE program provides launched more than 45,000 businesses in 2020 alone, with a return on investment of over $67 for every $1 in federal appropriations," said Representative Craig. "For the sake of our small business community, it's critical that we invest in and expand this critical program. I'm proud to join Representative Kim in this bipartisan effort and proud to see our legislation pass the House today."
"The SCORE program has proven to be a lifeline for small businesses, providing vital mentoring and education programs for entrepreneurs working hard to adapt to challenges from lockdowns to rising costs," said Representative Kim. "I am grateful to my colleagues for supporting my bill with Rep. Craig to continue to invest in the success of our small businesses. Our small business owners are job creators and economic engines of communities across the nation and I'll keep doing all I can to help them thrive."
Since its founding in 1964, SCORE has helped more than 11 million aspiring entrepreneurs to start, grow or troubleshoot a small business. In 2020 alone, SCORE helped start 45,027 new businesses and created 74,535 new jobs. Despite the challenging business climate of the COVID-19 pandemic, 89 percent of SCORE clients stayed in business throughout 2020.
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