Representative Monica McIver (D-NJ) of the House Small Business Committee, is expected to reintroduce the Improving SBA Engagement on Employee Ownership Act today, October 16. The bill reflects longstanding priorities for the cooperative community and would increase access to key lending programs within the U.S. Small Business Administration (SBA). The U.S. Federation of Worker Cooperatives and the National Cooperative Business Association strongly supports this bill and urges the Small Business Committee to swiftly pass this legislation. If your cooperative or organization wishes to demonstrate your support for this bill, click here.
Show your support for the bill
About the Improving SBA Engagement on Employee Ownership Act (H.R. 10244)
This legislation would improve SBA’s outreach and engagement on employee ownership and cooperative development by requiring the administrator to attend meetings and working groups on cooperative and employee ownership hosted by the federal government, including Interagency Working Group on Cooperative Development meetings.
The bill also requires the administrator to establish a small business employee ownership and cooperatives promotion program through the network of Small Business Development Centers (SBDCs) to offer technical assistance and training on the transition to employee ownership through cooperatives and qualified employee trusts.
The Improving SBA Engagement on Employee Ownership Act proposes important changes and reaffirms Congress’s commitment to leveling the playing field and increasing access to capital for cooperative businesses.
Thanks to NCBA CLUSA for sharing this re-posted advocacy alert.
