Wednesday (5/25/16) morning, the House Appropriations Committee will markup the FY17 Financial Services appropriations bill, which funds the Small Business Administration (SBA) and the Department of Treasury. The bill:
- Increases funding for the Women’s Business Center program to $19 million, which is a $2 million increase over FY16
- Allocates $44 million in lending authority for SBA’s Microloan program and $31 million for Technical Assistance — both 25% increases
- Provides $250 million for Community Development Financial Institutions (CDFI)
- Allocates a record $28.5 billions for SBA’s 7(a) Program
Funding levels for other programs, including SBA’s PRIME program and the CDFI Bond Guarantee program, have not yet been released. MSGI will provide more detailed reports once the itemized funding levels are provided. For a full listing of appropriations hearings and markups please see our weekly schedule below and to check the status of bills in both Chambers please take a look at Congress.gov’s appropriations tracker.
If approved, it goes to the House Floor for a vote and usually passes.