(Washington, D.C. July 25, 2017)—The National Association of Women Business Owners (NAWBO) is pleased to see the U.S. House of Representatives passage of the Microloan Modernization Act of 2017.  NAWBO National was proud to support the legislation sponsored by Congresswoman Stephanie Murphy (FL-7).

“Women business owners are a diverse and strong subset of our nation’s business community and a significant contributor to our nation’s economy,” said Kathy Warnick, NAWBO National Board Chair. “Regardless of size or sector or stage of development, business owners require capital.  NAWBO National is proud to support the Microloan Modernization Act and its dual push for the expansion of the existing Microloan program as well as a study of the program to measure its efficiency and effectiveness and report the results to the Small Business Committee.  We hope that increasing the amount of capital accessible through this program will be shown through the study to expand program participation and to allow more small business owners the access they need to capital and other management and technical assistance.”  The Microloan Modernization Act of 2017 passed the U.S. House of Representatives under suspension of the rules on Monday.

Representative Murphy said, “I’m proud my Microloan Bill passed the House with overwhelming bipartisan support. As a former businesswoman, I know that access to capital is the greatest challenge facing new and growing businesses, particularly women-owned businesses. Obtaining a loan can mean the difference between a small business starting up and succeeding or struggling and shuttering. My bill will help jump-start new businesses and create jobs by connecting more entrepreneurs to the capital they need to start and grow their enterprises.”

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About NAWBO

Founded in 1975, the National Association of Women Business Owners (NAWBO) is the unified voice of America's more than 9.1 million women-owned businesses representing the fastest growing segment of the economy. NAWBO is the only dues-based organization representing the interests of all women entrepreneurs across all industries.   NAWBO develops programs that help navigate women entrepreneurs through the various stages of their business growth.