Senate Committee Approves Bill Reauthorizing Small Business Administration

WASHINGTON – The Senate Committee on Small Business and Entrepreneurship reported favorably with amendments a bill that reauthorizes the Small Business Administration and improves the levels of various SBA loan programs for fiscal year 2004. The Small Business Administration 50th Anniversary Reauthorization Act of 2003, introduced by Sen. Olympia Snowe (R-Me.) in early July, also includes provisions for a 3-year National Preferred Lenders Pilot Program for Native Americans and women. The SBA turns 50 years old later this year. Several events are scheduled to be held during the year to celebrate the agency's birthday.