Sending Office: Honorable Rick Larsen
Help Small Businesses: Support Funding for Small Business Development Centers
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Deadline COB TODAY
We invite you to join the below letter encouraging the House Appropriations Subcommittee on Financial Services to include $135 million in funding to Small Business Development Centers (SBDC) program in the FY 2019 Financial Services and General Government
SBDCs are a nationwide network of business advisors, trainers, and support staff operating from community and technical colleges, and selected economic development agencies. The SBDCs that are located in our districts have been highly effective at helping
local small business and entrepreneurs succeed and drive economic growth and job creation in the area.
If you have further questions or would like to sign on, please contact Terra Sabag of Congressman Larsen’s office at (Terra.Sabag@mail.house.gov) or Kimberly Greenplate of Congressman LoBiondo’s office at (Kimberly.Greenplate@mail.house.gov).
Rick Larsen Frank LoBiondo
Member of Congress Member of Congress
Tom Graves Mike Quigley
Chairman Ranking Member
Subcommittee on Financial Services Subcommittee on Financial Services
Committee on Appropriations Committee on Appropriations
B-300 RHOB 1016 RHOB
Washington DC, 20515 Washington, DC 20515
Dear Chairman Graves and Ranking Member Quigley:
We write to urge your Committee to include $135 million for the Small Business Development Centers program within the FY 2019 Financial Services and General Government Appropriations bill.
The Small Business Development Centers are a nationwide network of business advisors, trainers, and support staff operating from community and technical colleges, and selected economic development agencies. The SBDCs in our districts are highly effective
at helping local small businesses and entrepreneurs succeed and drive economic growth and job creation in the area.
The nearly 1,000 SBDCs nationwide are an important economic development engine. Last year SBDCs helped create over 100,000 new jobs; a new job every five minutes. Sixty-five percent of pre-venture SBDC in-depth clients start new businesses and a new business
is created every thirty minutes. SBDCs helped generate $6.9 billion in new sales last year and the return on the investment on the federal level is $2.65 to $1. Between 2002 and 2015 the national SBDC network helped small business clients create over 920,000
jobs, and prevent the loss of a further 870,000 jobs. During that period SBDCs also helped small businesses increase sales by over $80 billion and helped entrepreneurs attract over $46 billion in financing. That economic activity resulted in $2.7 billion
in increased federal revenues and $3.4 billion in increased state revenues.
Therefore, we urge the Committee include $135 million for the Small Business Development Center within the FY 2019 Financial Services and General Government Appropriations bill. This appropriation will be matched more than one-to-one, thus enabling SBDCs
to leverage the federal investment and increase its impact on small business. This increased appropriation will enable SBDCs to serve more businesses and entrepreneurs, enable more business starts, spur job creation, and increase overall economic activity.
Rick Larsen Frank A LoBiondo
Member of Congress Member of Congress
e-Dear Colleague version 2.0