Improved Support for Women Entrepreneurs: New Funding Rules for Business Centers.
This Act strengthens the Women’s Business Center Program (WBCP) by introducing stable 5-year grant terms and increasing the maximum annual grant amount to $300,000 (adjusted for inflation). The changes aim to provide better access to training, financial counseling, and capital acquisition assistance for women running small businesses, with a focus on socially and economically disadvantaged groups. An accreditation program will also be established to ensure high-quality services.
Key points
Stable Funding: Women's Business Centers can apply for 5-year grants, ensuring long-term continuity of support for women entrepreneurs.
Increased Resources: Authorization of $31.5 million annually through 2027 for programs supporting women in starting and growing small businesses.
Quality Assurance: Mandatory accreditation and annual financial and programmatic reviews are introduced to ensure centers offer effective counseling and training.
Status:
Expired
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