Resolution - Restoration of the Small Business Administration Micro Loan Program to the 2009 Budget
WHEREAS, the President’s budget eliminates the Small Business Administration (SBA) loan and technical assistance funds for micro business, prime and reduces the women’s business centers to $12 million and reduces the CDFI-Fund to $8 million; and
WHEREAS, this action severely affects Hispanic micro businesses and their ability to obtain training and guidance for their fledging businesses; and
WHEREAS, numerous LULAC members, LULAC councils in Arizona and the nations micro entrepreneurs (their business) will be severely hampered and will affect their ability in obtaining loans from SBA.
THEREFORE, we strongly urge the President to instruct the SBA Administrator and to provide the funding to restore these programs to the 2009 budget at the rate of the following:
Micro lending $20 million
FURTHERMORE, that this resolution be adopted at the Arizona State LULAC Convention and forwarded to the National LULAC Convention to become a National Legislative priority.
Approved this 11th day of July 2008.