On Wednesday, July 17, the House passed the Financial Services and General Government Appropriations bill, which allocates money for the Small Business Administration and the CDFI Fund. Download the SBA FY2014 House budget and the CDFI FY2014 House Budget – and if you’re curious about the whole bill (it funds the President’s office). And for those of you who are really interested in budget stuff, download our FY 2011-14 Budget Comparison. We are happy to have maintained funding in this political climate and believe that the Senate will fund the SBA at least at the level that the House did.
Small Business Development Centers …………………………………….. $112,500
Veterans Business Development ……………………………………………….. 2,500
SCORE ………………………………………………………………………………….. 7,000
Women’s Business Centers ……………………………………………………… 14,000
National Women’s Business Council………………………………………………. 900
Microloan Technical Assistance ……………………………………………… 20,000
Entrepreneurship Education ……………………………………………………. 5,000
PRIME …………………………………………………………………………………. 3,500
Native American Outreach ………………………………………………………. 1,250
7(j) Technical Assistance ………………………………………………………… 2,790
HUBZone ……………………………………………………………………………… 2,500
Entrepreneurial Development Initiative (Clusters) ……………………… 5,000
Boots to Business ………………………………………………………………….. 7,000
Total, non-credit initiatives …………………………………………………. 183,940
Some highlights from the budget:
- The SBA’s request for $40 million to expand their high growth business initiative is not funded.
- The House funded SBDC’s, SCORE, Women’s Business Centers, Microloan Technical Assistance, HUBZone, Native American Outreach, and PRIME. above the SBA requested amounts.
- The Committee encourages SBA to expand the presence of Women’s Business Centers in the United States territories.
- Usually agencies can transfer up to 5% of funds between programs. The House bill doesn’t allow the SBA to move money from one program to another without Congressional approval.
- According to Martin Feeney of Madison Services Group, this is the first time the House Appropriations Committee has talked about non-profit entrepreneurial training programs.
“The Committee encourages the SBA to support small business development and entrepreneurship throughout the country by funding non-profit organizations and institutions of higher education that train and educate an entrepreneurial workforce and provide business development services designed to accelerate industry sectors that build regional assets.”
The Committee strongly encourages the SBA to support efforts to
ensure that minority- and women-owned businesses throughout the
country are able to receive access to capital in order to facilitate
job creation and strengthen our economy.