Senator Kirsten Gillibrand will be in Rochester today to announce bipartisan legislation expanding the Small Business Administration’s Microloan Program.
It provides loans and technical assistance to women and minority business owners, and other entrepreneurs who are often denied loans by banks. The legislation would raise the total limit on outstanding loans to intermediary lending organizations, which would allow for more loans to be made.
Since its inception, the SBA Microloan Program has delivered more than $722 million in loans to small businesses across America.