Berks County News

WASHINGTON, D.C. – Today, Congressman Dan Meuser (R-PA), Chairman of the Small Business Subcommittee on Economic Growth, Tax, and Capital Access, presided over a hearing examining the effects of the SBIC and SBIR Programs on small businesses. The hearing, titled “Exploring SBA Programs: Reviewing the SBIC and SBIR Programs' Impact on Small Businesses,” gathered insights from various experts in the field.

In his statement following the hearing, Subcommittee Chairman Meuser emphasized the importance of enhancing the SBIC and SBIR Programs to support American small businesses while ensuring the protection of taxpayer funds. He expressed gratitude to the witnesses for sharing their knowledge on leveraging SBA programs to deploy capital and research dollars to deserving small businesses. Meuser also mentioned his bill, HR 5333, the Investing in All of America Act, as part of the efforts to enhance these programs.

During the hearing, key points were raised by the participants. Mr. Palmer highlighted the significance of SBIC capital as the initial institutional investment for most businesses, aiding in their professionalization and expansion. He also explained how bonus leverage incentivizes investments in underserved areas, benefiting small businesses in accessing capital.

Mr. Valletta underscored the pivotal role of private investments facilitated by the SBIC in driving innovation and growth for small business clients. He emphasized the importance of programs like America’s seed funds in supporting venture investment and development organizations.

Addressing concerns about the Department of Defense SBIR program, Ms. Bresler acknowledged the lack of clear instructions for small businesses, leading to confusion and hindering participation. She suggested a hands-on approach to assess and improve the process, emphasizing the need for defined policies and metrics to track the program's impact on new businesses.

The hearing shed light on the challenges and opportunities within the SBIC and SBIR Programs, showcasing the ongoing efforts to optimize these initiatives for the benefit of small businesses across the nation.