To the Editor:
As a small-business owner, I am deeply disappointed that the president’s newbudget proposal includes cuts to the Community Development FinancialInstitutions (CDFI) Fund and a 5 percent cut for the Small Business Administration(SBA). Under this plan, the SBA would see a $12 million reduction in availablegrants for programs that provide education, resources and growth opportunitiesfor small businesses like mine.
This proposal will lead to cuts to local groups and SBA offices that are providingvital resources to small-business owners. Additionally, the cuts to the CDFI fundwill make it harder for small businesses, particularly those in disadvantagedcommunities, to get access to credit when they need it. I know that withoutfunding for programs such as Sunshine Enterprises here in Chicago and the SBA,my small business wouldn’t be nearly as successful as it is today.
Small businesses are the backbone of the nation’s economy, and they need accessto resources that will help them succeed. That’s why it’s crucial for lawmakers tosupport the SBA and the CDFI fund.
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