Hillary Scholten on the Investing in All of America Act for Rural Small Businesses

The Challenge for Rural Small Businesses

• 📌 Michigan is home to nearly 1 million small businesses, representing 99.6% of privately-owned businesses in the state.
• ⚠️ Access to capital is a significant challenge for small businesses, particularly in low-income, rural communities, and for small manufacturers.
• 📉 Studies indicate that less than 20% of small business investment company funds reach these underserved communities.

The Investing in All of America Act

• 💡 The "Investing in All of America Act" aims to address the disparity in capital access for small businesses.
• 🚀 This legislation will incentivize the deployment of additional capital to communities and small manufacturers that need it most.
• 🏦 The bill proposes to exclude certain amounts of leverage invested in these businesses from the SBIC's leverage cap.

Bolstering SBIC Success and Economic Growth

• ✅ The "Investing in All of America Act" will enable further support for small businesses in underserved communities and critical manufacturing sectors.
• 🤝 This bipartisan solution is designed to bolster the SBIC's program as a zero-subsidy public-private partnership.
• 📈 By encouraging investments in rural areas and vital industries, the bill aims to support businesses crucial for national defense and economic growth.