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SBA Budget to take Hit in 2007

Date: 02/14/2006 | Category: Business | Author: developers

According to President Bush’s 2007 budget, the SBA will take a 30 percent cut in funding which will bring its annual budget to approximately $429 million.  Congresswoman Nydia Velazquez, D-NY, called it an “attack on this nation’s entrepreneurs.

In a statement released by Velazquez, she points out that the Bush administration has reduced allotted funds for the SBA 60 percent since 2000. She goes on to say that these moves have imposed “more barriers for America’s small business owners when it comes to providing them with access to affordable capital.”

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