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Committee clears bill to coordinate SBA and USDA support for rural small businesses
Summary
The Senate Committee on Small Business and Entrepreneurship favorably reported S.1093, the Coordinated Support for Rural Small Businesses Act, which seeks to align SBA and USDA rural development resources to improve access to loans and counseling for rural employers.
The Senate Committee on Small Business and Entrepreneurship moved to favorably report S.1093, the Coordinated Support for Rural Small Businesses Act, and the motion carried by voice vote. Senator Shaheen, sponsor of the bill, described it as an effort to better coordinate resources between the Small Business Administration and the U.S. Department of Agriculture to help rural firms access loans and counseling services.
Senator Shaheen said rural small businesses account for 54% of employment in rural counties versus 45% in urban counties and noted that businesses in New Hampshire often rely on both SBA and USDA Rural Development programs. “This bill is an attempt to try and better coordinate those resources between SBA and USDA,” Shaheen told the committee, adding she appreciated the chair and ranking member’s support and hoped the measure could also move through the Senate floor.
The chair moved to favorably report S.1093; the ayes prevailed and the chair announced that, with a quorum present, S.1093 was reported favorably by the committee. No recorded roll-call was requested in the transcript. Committee staff were authorized to make technical and conforming changes to measures reported that day.
Supporters said the bill aims to streamline federal support for rural firms that rely on multiple programs; no amendments were prefiled for S.1093 and committee discussion on this item was brief. The committee recessed after completing the day’s business.
