HSBC OKs 6 small biz bills

      The House Small Business Committee on May 23 approved 6 bipartisan bills to authorize the Small Business Administration’s “Boots to Business” program and to take other actions to assist small businesses.

      The bills also would improve SBA’s small business workforce development assistance and increase oversight of the SBA’s 7(a) loan program, among other goals.

      The legislation passed by the committee consisted of:

• HR 1606, introduced by four committee members, would authorize the SBA’s “Boots to Business” training program for veteran entrepreneurs for five years.
• HR 1541, submitted by four committee members, would allow Small Business Development Centers to distribute the Labor Dept.’s information regarding apprenticeships and other job training programs for small firms.
• HR 1730, introduced by Reps. Roger Williams, R-TX, and Marie Gluesenkamp Perez, D-WA, would direct SBA’s SBDCs and Women’s Business Centers to assist small businesses in hiring graduates from career and technical education programs, and in helping those graduates start small businesses. These activities would supplement the centers’ other services.
• HR 3511, introduced by Reps. Nick LaLota, R-NY, and Morgan McGarvey, D-KY, would require SBA to issue guidance to federal agencies to enhance contracting with Service-Disabled Veteran-Owned Small Businesses (SDVOSBs). Agencies that fail to meet the SDVOSB goals would be provided with additional training.
• HR 1644 and HR 1651 were submitted by Reps. Dan Meuser, R-PA, and Dean Phillips, D-MN. HR 1644 would require the SBA’s Office of Credit Risk Management to provide an annual report to Congress regarding the performance and risk of loans initiated by 7(a) loan agents. HR 1651 would order the office to create a registration system for 7(a) agents. Each agent would be assigned a unique identifier to help collect and track data on the agents’ loan performance.

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