AEO Applauds Funding for Microbusinesses

June 16, 2011

Washington, DC, June 16, 2011 – Today, the House Appropriations Subcommittee on Financial Services and General Government funded critical assistance to small businesses.  Included in the FY2012 funding was assistance to microbusinsses with five employees or less in underserved areas, including PRIME, the technical assistance provided through the microloan program and funding for grants to Women’s Business Centers and the CDFI Fund.  “It is well documented that businesses who receive assistance provided by business development organizations have a much greater chance of success,” said Connie Evans, President of AEO.  “We are pleased the Subcommittee understands that an investment in entrepreneurship is an investment in the families and the communities that depend on main street businesses to succeed,” she said.  

AEO recently released “The Power of One in Three,” which shows that if just one in three microbusinesses hired a single employee, the U.S. would be at full employment.  This is a powerful statement, but will require focusing on entrepreneurs and providing them with critical capital, counseling, and technical assistance in order to unleash the Power of One in Three.

AEO is the national member organization and voice of microfinance in the United States. For nearly two decades, AEO and its 450 member organizations of nonprofit lenders and business development practitioners have helped more than two million entrepreneurs to contribute to economic growth as they support themselves, their families and their communities.

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