AaronSchock

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Washington, Nov 9 -

On Saturday, the House passed H.R. 1845, the Small Business Development Centers (SBDC) Modernization Act, by a vote of 412 to 20.  This legislation, introduced by Congressman Aaron Schock (R-IL) will provide SBDC’s with the resources they need to deal with increased demand and usage during these difficult economic times.

“Small Business Development Centers provide emerging entrepreneurs with the tools needed to successfully take their small business concepts into reality and provide existing small business owners with important financial and budgeting consulting to assist in long-term growth and management,” said Schock.  “By improving Small Business Development Centers, we provide a cost effective way to help grow the economy while enhancing American competiveness.”

“Small businesses are the engine that drives our economy.  The passage of this legislation will enable SBDC counselors to guide even more small business owners to sustained growth and job creation,” said Ken Klotz, Director of the SBDC at Bradley University. 

The Small Business Development Centers Modification Act will make several operational changes to the SBDC program to eliminate waste, fraud and duplicative programs and reward with additional funding those SBDC’s that focus on areas significant to an economic recovery including:

• Access to Credit and Capital for small businesses
• Helping small businesses secure federal contracts
• Instruction for entrepreneurs who start businesses in energy efficiency and green technology
• Development of a Small Business Helpline accessible via the internet in each State

H.R. 1845 also increases the yearly authorization of SBDC’s from $135 to $150 million in FY2010 and $160 million in FY2011

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