U.S. Senator Kirsten Gillibrand announces new bill to help small businesses
CORNING, N.Y. (WENY) -- United States Senator, Kirsten Gillibrand, was in Corning Friday afternoon to announce a new bill to help minorities and women start small businesses.
Senator Gillibrand announced the Microloan Modernization Act at the Cugini Cafe on Market Street.
She says the bill will help provide loans and technical assistance to women and minority business owners who face problems getting loans from banks to start or improve their small businesses.
Gillibrand says the Small Business Administration will set more money aside as an extension of their Microloan Program.
"There's a certain amount of money that's set aside specifically for women and minority owned businesses," said Gillibrand. "What this bill will do will make that number higher. So have more money for women and minority owned businesses and a little more flexibility to use some of that money to help identify the businesses and get them to apply for loans."
By doing this, she believes it will provide more flexibility to use some of that money to help identify the businesses and get them to apply for loans.