Kagen Is Helping Small Businesses Create Jobs
Wednesday, May 20th, 2009Washington, DC — Congressman Steve Kagen, M.D. is creating opportunity for small businesses. Today, Kagen voted for the Job Creation Through Entrepreneurship Act which will facilitate small business expansion, thus creating new jobs during these hard economic times. To accomplish this, the act will renovate the Small Business Administration’s (SBA) entrepreneurial development programs.
“I am working hard to help small businesses grow our economy,” said Kagen. “Small businesses are the economic engines of America and I encourage them to take advantage of the many programs out there to help them secure capital and create jobs.”
Small businesses generate 50% of our nation’s gross domestic product and provide nearly 80% of new jobs. By supplying small businesses with new tools and resources to accommodate their changing needs, this critical legislation will stimulate job creation and economic growth. It also includes provisions to help women and minorities create new businesses and grant programs to help new small businesses with green and sustainable energy practices.
The bill proposes a grant program specifically intended for Small Business Development Centers to assist small firms in acquiring capital, such as the new small business lending created under the Recovery Act. The Recovery Act contains a number of provisions to generate new small business lending, such as increasing the maximum amount of an SBA-backed, government-guaranteed loan from 85% to 90%.
Congressman Kagen has hosted a number of Small Business Resource Events, which hundreds of small business owners in Northeast Wisconsin have attended. The events attracted representatives from the Small Business Administration, Small Business Development Center, American National Bank, Associated Bank, The Venture Center, The Business Bank, and local chambers of commerce.
The bill also authorizes $22 million for the SBA to expand entrepreneurial assistance to veterans. Under this Veterans Business Center Program, specialized assistance programs will be established and outreach facilities will be added across the country.
“We must make certain that those who sacrifice for our nation have a chance to participate in the opportunities they fought so hard to protect,” Kagen said.
Kagen also voted today for the Credit Cardholders’ Bill of Rights to protect working families from predatory credit card companies. The Senate’s version of this legislation contains a condition which allows individuals possessing a gun into any national park or national wildlife refuge if state law already allows it. The House passed the legislation.






