WASHINGTON, D.C. – On Wednesday, U.S. Congressman Mike Flood introduced his first congressional bill, the Connecting Small Businesses with Capital Act. The Connecting Small Businesses with Capital Act would help small businesses get access to investor financing.
“Small businesses are the lifeblood of our economy, making up over 99% of all private sector job creators,” said Congressman Flood. “Connecting with potential investors can often be daunting for small business owners. The Connecting Small Businesses with Capital Act will help create more awareness about existing opportunities for investor financing that are underutilized and pave the way for more small business owners to take advantage of them.”
While the JOBS Act of 2012 provided new opportunities for small businesses to raise capital from investors, many businesses remain unaware of the variety of capital-raising options available to them. This bill requires the Small Business Administration (SBA) to produce educational materials on some of those JOBS Act regulations.
Small businesses across the country are familiar with the SBA given its role in the Paycheck Protection Program (PPP) and other COVID disaster programs. With the passage of this bill, the SBA would help connect the next generation of startups with the financing needed to help them grow and succeed.
“The ‘Connecting Small Business with Capital Act’ is a smart measure that will utilize existing programs and resources at the SEC and SBA to build awareness and provide support. SBE Council endorses this important legislation, and we are grateful to Congressman Flood for his leadership,” Karen Kerrigan, President & CEO of the Small Business & Entrepreneurship Council (SBE Council).
A copy of the bill can be found by clicking here. A copy of a letter of support from the SBE Council can be found by clicking here. A one pager on the Connecting Small Businesses with Capital Act by clicking here.
Congressman Flood is a member of the Committee on House Oversight and Reform as well as the Committee on Small Business.
