The U.S. House of Representatives on April 26 approved a bipartisan bill led by U.S. Rep. Young Kim (R-CA) that would reauthorize $13.5 million for the Small Business Administration’s (SBA) SCORE program for two years.
The SCORE for Small Business Act of 2022, H.R. 6450, which Rep. Kim sponsored on Jan. 20 with lead original cosponsor U.S. Rep. Angie Craig (D-MN), also would ensure the SBA prevents abuse and misuse of program funds and would 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 for small businesses, providing vital mentoring and education programs for entrepreneurs working hard to adapt to challenges from lockdowns to rising costs,” Rep. Kim said. “I am grateful to my colleagues for supporting my bill with Rep. Craig to continue to invest in the success of our small businesses.”
Since its founding in 1964, SCORE has helped more than 11 million entrepreneurs start, grow or troubleshoot a small business, according to information provided by Rep. Kim’s staff, which noted that in 2020, SCORE helped start 45,027 new businesses and created 74,535 new jobs.
“Our small business owners are job creators and economic engines of communities across the nation and I’ll keep doing all I can to help them thrive,” said Rep. Kim.
H.R. 6450, which has been endorsed by the Yorba Linda Chamber of Commerce, was received in the U.S. Senate on April 27 and referred for consideration to the U.S. Senate Small Business and Entrepreneurship Committee.
