Improved Support for Women Entrepreneurs: New Grants and Accountability Standards.
This Act strengthens the Women's Business Center Program (WBCP) by providing more stable, long-term funding and enhancing the quality of entrepreneurial support services for women. It establishes 5-year grants, increases annual funding limits, and mandates accreditation and annual financial reviews to ensure high standards, particularly for socially and economically disadvantaged women. Citizens benefit from more reliable and higher-quality resources for business finance, management, and marketing assistance.
Key points
Increased Funding Stability: Women's Business Centers will receive 5-year grants (up to $300,000 annually, adjusted for inflation) with unlimited continuation possibilities.
Higher Service Quality: Mandatory accreditation standards and annual programmatic and financial examinations are introduced to improve accountability and the quality of counseling.
Financial Flexibility: The Administrator can waive matching fund requirements for one year if economic conditions warrant it.
Privacy Protection: Personal and business information shared by entrepreneurs with the centers is protected from disclosure without consent.
Status:
Expired
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