UTICA – U.S. Sen. Kirsten Gillibrand is working to expand opportunities and training to help small business owners succeed.
Gillibrand made a stop in Utica on Monday at the Women’s Business Center in downtown Utica to highlight a bill called the Microloan Modernization Act that would provide loans and technical assistance to women and minority business owners.
The legislation would raise the total limit on outstanding loans to lending organizations in order to allow for more loans to business owners. The bill has already passed in the House of Representatives, and it will now be voted on by the Senate.
“Too many would-be small business owners struggle to get loans from banks to start their businesses," Gillibrand said. More often than not, the people who lose out are women and minority New Yorkers. The bipartisan Microloan Modernization Act would help ensure that every hardworking entrepreneur who wants to start a business has a chance to do it. If we really want to fix our economy, then we need to start rewarding work and entrepreneurship again, and this bipartisan bill is a good place to start.”
The Microloan Program has delivered more than $722 million in loans to small businesses across America and has created or maintained 212,000 jobs.