Small Business Development Centers (SBDC) across the nation are set to receive $150 million in funding to help American entrepreneurs.
While the bulk of the many will go directly to the SBDCs in an effort to support counseling and training for small business owners, 18 million will be allocated to help fund businesses that are focused on exporting products.
In addition to the funding, the legislation which includes the $150 million in allocated money will also include a major component to “ease regulatory burdens on small banks which could give people more opportunities to apply for loans.”
Last year the local SBDC helped 700 business owners with its services. This year they are on track to help around 800 people.