Senators Coons, Cardin introduce bill to support small businesses with mentoring and assistance

WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Ben Cardin (D-Md.), at present launched the SCORE for Small Enterprise Act, laws that will reauthorize and enhance the SCORE program to assist with the annual in-person mentoring, on-line coaching, and native coaching workshops SCORE offers to small companies. Senator Cardin is chairman, and Senator Coons is a member, of the U.S. Senate Committee on Small Enterprise and Entrepreneurship.

“Delaware’s small companies drive the First State’s economic system, and federal applications like SCORE assist them develop, thrive, and create good-paying jobs,” mentioned Senator Coons. “Regardless of the pandemic and world provide chain disruptions, enterprise house owners and employees have labored with the Small Enterprise Administration’s (SBA) SCORE program and its hundreds of volunteers to plan, launch, and develop their companies. This invoice would reauthorize this essential program with extra funding and make enhancements so it continues to supply essential steering to small companies throughout the nation.”

“The SCORE program is one in all SBA’s impactful entrepreneurial growth applications, offering mentors and coaching alternatives for 145,838 distinctive purchasers, and serving to begin greater than 3,000 new companies in 2021 alone,” mentioned Chairman Cardin. “But, SCORE has not obtained the place in statute that it deserves. This invoice is crucial to offering the oversight wanted to maintain this program operating easily, and serving our entrepreneurs in Maryland, and past. I’m proud to cosponsor the SCORE for Small Enterprise Act of 2022, with my buddy and fellow committee member, Senator Coons.”

“On behalf of SCORE’s 10,000 volunteer mentors, we tremendously recognize the Small Enterprise Committee’s assist in reauthorizing the SCORE program at an $18 million appropriation. This reauthorization offers enthusiastic recognition of the numerous optimistic influence SCORE has had on American small companies, and serves as a testomony to SCORE’s sturdy tradition of compliance and good stewardship of the federal greenback,” mentioned SCORE.

The SBA at present offers funds to SCORE to supply in-person mentoring, on-line coaching, and practically 9,000 native coaching workshops yearly for small companies. SCORE’s greater than 250 chapters are situated all through the complete United States and Puerto Rico. SCORE companions with greater than 10,000 volunteer counselors, who’re working or retired enterprise house owners, executives, and company leaders, to supply coaching help to small companies at no cost or low value.

The SCORE for Small Enterprise Act would reauthorize the SCORE program and formally change the identify from the Service Corps of Retired Executives (SCORE) to the SCORE program. This invoice would additionally develop SCORE’s on-line counseling providers to additional assist entrepreneurs. The invoice establishes accounting requirements for SCORE, requires a documented compensation coverage for SCORE workers, institutes whistleblower protections, and mandates that SCORE offers three annual coverage reviews to Congress for oversight.

In September, Senator Coons launched laws to assist small companies rent new workers and assist aspiring entrepreneurs with the Supporting Small Enterprise Profession and Technical Training Act. In the identical month, he additionally launched laws to make sure small companies have entry to low-cost, fixed-rate, long-term loans with the 504 Mortgage Availability Act.


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