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Committee Approves Small-Business Bills

 

The House Small Business Committee this week approved two bills aimed at boosting federal microloans and global trade programs for smaller businesses.

The Microloan Amendments Modernization Act, which offers loans through the Small Business Administration, allows small-business owners to leverage their payment records to establish a credit history with lenders, while offering lines of credit and other micro-lending options.

For entrepreneurs looking for opportunities abroad, the SBA Trade Programs Act establishes a set of trade policies specific to smaller businesses, such as increasing export assistance to small-business owners and offering protections against unfair practices in foreign markets.

Together, the initiatives will help smaller businesses access capital and identify markets that will allow their businesses to grow, according to Rep. Nydia Velazquez (D-N.Y.), the committee chairwoman.

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