Find out which federal agencies fund micro-business development.
2015 Federal Legislative Priorities for Micro-business Development
President Obama’s FY2016 Budget Request. Here’s how micro-related budgets play out.
- SBA PRIME — $0 Million ($5 million allocated for FY15)
- SBA Micro Lending — $35 Million (40% increase over FY15)
- SBA Micro TA — $25 Million (11% increase over FY15)
- SBA WBC Program — $16 Million (7% increase over FY15)
- SBA SBDC Program — $115 Million (same as FY15)
- SBA Veteran Programs — $11.45 Million (9% increase over FY15)
- CDFI Fund — $233.5 Million (1.2% increase over FY15)
- USDA RBDG — $30 Million (25% increase over FY15 – RBEG and RBOG were combined in FY2014 Farm Bill into the Rural Business Development Grant)
- USDA RMAP — $ 4.65 Million ($0 was allocated in FY2015, however, the RMAP program receives $3 Million in mandatory funding annually through FY2018.)
This is the first step in the budget process; the the earliest the budget will be completed is in the summer. For the most part, the budget looks good. As in years past, CAMEO will be doing everything in our power to make sure that Congress funds the PRIME program at $8 million.
Priorities for advocacy at the federal level include:
- Establish Core Performance Measures for entrepreneurship training in Workforce Innovation and Opportunity Act of 2014 (WIOA) to ensure access to funds for self-employment training and business technical assistance.
- Work to maintain and expand SBA funding for technical assistance.
- Work to expand SBA guarantees for non-bank CDFIs which would greatly increase capacity of CDFIs who serve micro-business.
- Continually press for California CDFIs to get a fair share of funding through the CDFI Fund; help CAMEO members become more competitive for awards.
- Promote technical assistance services as a key risk mitigator in microlending among all regulators and SBA.
- Promote micro-business development as a key strategy for economic success in California among all Senate and Congressional representatives.
- Track and monitor priority policy issues relevant to micro-business development to ensure that CAMEO and its members are fully aware of all federal advocacy opportunities.
- Track USDA’s new Rural Micro Enterprise Assistance Program to ensure California receives its fair share.