The House Small Business Committee passed out of committee the SCORE for Small Business Act of 2022 (H.R. 6450), a bipartisan bill led by U.S. Representatives Young Kim (CA-39) and Angie Craig (MN-02) to reauthorize the SBA’s SCORE program which provides education and mentorship services for entrepreneurs. H.R. 6450 now heads to the House floor.
Rep. Kim serves as Ranking Member of the Small Business Subcommittee on Innovation, Entrepreneurship and Workforce Development and spoke in support of her bill during the hearing. Watch here.
The SCORE for Small Business Act would:
- Reauthorize $13.5 million for the program for two years;
- Ensure the SBA prevents abuse and misuse of funds; and,
- Expand counseling and training programs to provide online webinars, electronic mentoring platforms and online toolkits to better serve small businesses
“The SCORE program has proven to be a lifeline to business owners and entrepreneurs working hard to overcome challenges and succeed,” said Representative Young Kim. “I thank Rep. Craig for working with me to push for continued investment in the success of our small business owners, and I’m grateful for our fellow Small Business Committee members for supporting this important effort. Our small business owners are job creators and economic engines in our communities, and I’ll continue to do all that I can to help them thrive.”
“Small businesses, which represent more than 93 percent of employers in Minnesota’s Second Congressional District, are the economic engine of our communities,” said Representative Angie Craig. “It’s critical that we give every entrepreneur – regardless of their zip code – the resources and logistical support they need to launch their businesses and grow our local economies. I am pleased that the committee has advanced this commonsense, bipartisan legislation to ensure rural communities continue to grow and succeed.”
Read more about the bill here.