Tester backs measure allowing greater investment in Montanas small businesses
Senator supports bill that increases access to capital for small businesses, start-ups
(U.S. SENATE) – With Montana again being named the number one state in America to start a small business, Senator Jon Tester is making sure Montana small business owners have the tools they need to launch or expand their businesses.
Tester is sponsoring the Small Business Access to Capital Act that reauthorizes the State Small Business Credit Initiative (SSBCI). The initiative provides funding to states so that they can lend start-up capital to eligible small businesses.
In Montana, more than $12.3 million have been loaned to 50 businesses and start-ups since 2010 through the state’s SSBCI, creating or retaining over 1,000 local jobs.
“Montanans start small businesses at a higher rate than anyone else in the country, and a big reason entrepreneurs stay here is because of the support we offer our businesses,” said Tester, a small business owner himself. “This common-sense bill will give Montana businesses the support they need to grow, create jobs and compete in today’s global marketplace.”
Tester has worked since his first days in the Senate to ensure Montana businesses have the resources they need to expand and create jobs. He recently held his 14th Small Business Opportunity Workshop in Helena to connect national manufacturing industry leaders with Montana businesses to share ideas and expand Montana’s manufacturing sector.
The Senator also worked to start two Blackstone Launchpads at MSU and UM last summer to support Montanans who want to start their own businesses.
Tester previously authored and passed a bipartisan bill that cut red tape for businesses, allowing them to raise ten times as much capital.