MAR 10, 2022--WASHINGTON, D.C.-- Last night, the House of Representatives passed historic annual budget increases for FY22, setting the stage for the first ever Biden Administration-led budget since he took office in 2021. The legislation provides unprecedented investment to Main Street America and the microbusiness ecosystem across the country, for which AEO is the leading advocate. AEO is proud to have worked alongside lawmakers to fund the Minority Business Development Agency at $55 million and increase SBA programs across the board. These programs put people to work each day to connect microbusinesses to capital, technical assistance, credit opportunities, and business development programs that equip them with the tools needed to grow and succeed in today’s economy.

Connie E. Evans, President, and CEO of the Association for Enterprise Opportunity, said the following:

As the nation’s leading voice for the microfinance and microbusiness community, we applaud the bipartisan effort behind the Consolidated Appropriations Act of 2022. While such progress represents an achievement, we will continue to call on the Senate to pass the Consolidated Appropriations Act of 2022 into law. We believe that Congress must not give up the fight to ensure that America’s federal programs and agencies have an updated budget that addresses the challenges that microbusinesses continue to face in 2022 as they continue to build resiliency to the tolls of the COVID-19 pandemic. We hope that this week’s progress will translate to budgetary increases for the various programs that AEO recognizes to increase economic opportunity, help microbusinesses access capital, and support the economic pillars of every community.

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