Gusto Sends Letter to Congress Regarding FY23 Funding for SMBs

Gusto Editors

On April 15, 2022, Gusto sent a letter to House and Senate Appropriations Committees to urge support for funding to support small businesses and their employees. Specifically, the letter urged Congressional leaders to support programs proven to support underserved entrepreneurs by:

  • Increasing the Community Development Financial Institution (CDFI) Fund to $1 billion;
  • Increasing the Microloan Direct Lending program to $110 million and expand Microloan Technical Assistance (TA) initiative to $45 million;
  • Doubling the Program for Investment in Microentrepreneurs (PRIME) Technical Assistance (TA) program to $15 million;
  • Increasing funding for the Women’s Business Centers (WBC) Program to $50 million;
  • Increasing funding for SCORE to $21.7 million;
  • Fully funding the Minority Business Development Agency at $110 million; 
  • Permanently authorizing the Community Advantage Pilot Program; and 
  • Increasing funding for SBA’s 7(a) Loans. 

Read the full letter here:

Gusto Editors Gusto Editors, contributing authors on Gusto, provide actionable tips and expert advice on HR and payroll for successful business management.
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