U.S. Senator Tammy Duckworth (D-IL) hosted a roundtable about the needs of minority-owned small businesses and her efforts to increase small business access to capital with U.S. Senator Dick Durbin (D-IL) recently at the Chatham Business Association. The Senators were joined by Chicago Aldermen David Moore and Michelle A. Harris, Chatham Business Association President Melinda Kelly, Southeast Chicago Chamber Executive Director Frankye Payne and local business leaders to discuss ways to make it easier for small business owners to secure financing.
“Small businesses create jobs in our communities – especially in our nation’s underserved communities – and investing in them can help move us toward economic justice,” Duckworth said. “As a member of the Senate Committee on Small Business and Entrepreneurship, I’m working to make it easier for entrepreneurs to start and grow their businesses by introducing legislation like the Microloan Program Enhancement Act. Today’s roundtable gives us an opportunity to come together, learn from one another and do what we can to make sure dollars are invested in our main street economy.”
“We are strongest when we invest in our communities,” Durbin said. “The Microloan Program Enhancement Act will provide more opportunities for small business owners to get their ideas off the ground. I am proud to work with Senator Duckworth on this legislation to support small business growth in the community.”
Earlier this year, Duckworth introduced the Microloan Program Enhancement Act of 2019 to help small business owners secure the financing they need to grow their businesses and create good-paying jobs in their communities. The legislation would improve the Small Business Administration’s (SBA) Microloan Program to help more small businesses – particularly women, veterans, low-income and minority entrepreneurs – that may have been overlooked by traditional commercial lenders.