Budget Cuts Prove Counterproductive To Nation’s Smallest Businesses

Budget Cuts Prove Counterproductive To Nation’s Smallest Businesses

Budget Cuts Prove Counterproductive To Nation’s Smallest Businesses

 

By Connie Evans

 

The microenterprises got a double whammy last week with respect to House passage of FY2011 funding and the President’s proposed FY2012 budget. The FY2011 budget, which passed the House, contains big cuts for employment services (Workforce Investment Act by 48%) and community lending (CDFI Fund by 80%).

Just as a matter of definition, a microloan is $50,000 and under and is awarded to businesses who have under 5 employees. In the …

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Take Action! Ask Your Members of Congress to Oppose Cuts to the CDFI Fund in the FY 2011 CR

Take Action! Ask Your Members of Congress to Oppose Cuts to the CDFI Fund in the FY 2011 CR

ACTION ALERT!

 Ask Your Members of Congress to:

Oppose Cuts to the CDFI Fund in the FY 2011 CR

Support Maintaining the CDFI Fund at $247 Million for FY 2011

 

The House of Representatives is currently debating government funding for the rest of the Fiscal Year which ends on September 30, 2010.  H.R. 1 contains a $197 million cut below the FY2010 appropriation level and $200 million below the …

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The Obama Budget Omits Critical Technical Assistance for Underserved Entrepreneurs

The Obama Budget Omits Critical Technical Assistance for Underserved Entrepreneurs

The Obama Budget Omits Critical Technical Assistance for Underserved Entrepreneurs

Washington, DC – The spending cuts proposed in Monday’s release of the President’s FY2012 Budget would eliminate important programs to micro lenders that provide counseling and assistance to entrepreneurs who need it the most.  These cuts will impair the ability of micro lenders and microenterprise development organizations (MDOs) to support entrepreneurship and microenterprise. 

The U.S. Small Business Administration’s (SBA) portion of the proposed Budget for the microloan program is proposing to cut back on an important …

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