Small Business Committee to hold a hearing on employee ownership 12/6

The Committee on Small Business Subcommittee on Oversight, Investigations, and Regulations will hold a hybrid hearing titled: “Building Sustainable Businesses through Employee Ownership at SBA.” The hearing is scheduled to begin at 10:00 A.M. on Tuesday, December 6, 2022 in Room 2360 of the Rayburn House Office Building. Participating members can also join remotely via Zoom.

The hearing will allow Members to examine the challenges faced by employee-owned businesses in accessing affordable capital from the SBA, and SBA’s efforts to address those issues. The hearing will also provide Members the opportunity to receive feedback on two bills that aim to improve access to the Small Business Administration’s (SBA) 7(a) loan guarantee program for employee-owned firms. The measures are as follows: H.R. 9347, the “Main Street Employee Ownership 2.0 Act of 2022” and H.R. 9345, the “Improving SBA Engagement on Employee Ownership Act”.

The USFWC’s Policy Director, Mo Manklang, will be providing comment alongside Corey Rosen from the National Center for Employee Ownership and Keith D. Butcher from Mosaic Capitol.

To view a livestream of the hearing, click here.

Advocates of worker co-ops are encouraged to submit comment to both the hearing and to the SBA’s open comment period for Affiliation and Lending Criteria for the SBA Business Loan Programs.

Here is a template letter that will work for both; simply add to your letterhead and include some context as to why you or your organization is providing comment.

Comments for the hearing can be sent to Lauren Finks at Lauren.Finks@mail.house.gov until 5 days after the hearing (December 14) and comments on the SBA regulations can be submitted here through December 27th.

Posted in Action, News, Policy.