Download a comparison of the Micro-related budgets for FY2010, FY2011 and FY2012.
From AEO:
Washington, DC – The massive spending bill – also known as the “megabus” – has been passed and work on FY2012 Appropriations is now complete. The spending bill, H.R. 2055 The Consolidated Appropriations Act of 2012, contained funding for nearly three quarters of the federal government, including many of the programs that are important to AEO members. The bill will now go to the President for his signature.
AEO and its members have been advocating fiercely on the Hill, and we can claim victory for continued funding for the critical lending and technical assistance programs. “Thanks to all of our members and their tireless advocacy, critical programs that had been targeted for elimination or reduction survived,” said Connie Evans, President and CEO of AEO. “These successes did not come on their own, AEO members were active and effective advocates,” added Evans. Despite the large cuts in the Congressional budget, the programs that promote and assist microbusinesses fared well.
The SBA will receive $919 Million in FY2012 appropriations. The funding levels for programs important to AEO members include:
- PRIME – $3.5 Million
- 7(j) TA – $3.1 Million
- SBDCs – $112.5 Million
- WBCs – $14 Million
- Microloan TA- $20 Million
- Microloan Lending – $3.67 Million which supports $25 Million in lending authority
The CDFI Fund will receive $221 Million in FY2012 appropriations. The following provisions apply to CDFI Fund appropriations allocations: $146 Million for Financial Assistance and Technical Assistance; $18 Million for the Bank Enterprise Awards program; and $22.9 Million for the New Markets Tax Credit program, of which $10.3 Million shall be used for the cost of direct loans.