Good news has arrived for the small business community. While the Bush Administration has reduced the SBA's operating budget by 30% since 2001 (source INC.com), the Senate has restored more than $100 million in funding for this important source of small business capital.
The Senate Appropriations Committee voted to increase the SBA's core small business programs by 45% over the President's request for 2009. The bill increases funding for Small Business Development Centers by 24%, Women's Business Centers by 13%, microloans to $20 million from zero, contracting assistance by 87%, and veterans outreach programs by 62%.
Full text of this release can be found here.
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