Small Business
Small firms are the backbone of the American economy, and nowhere is that more clear than in New York City. More than 200,000 small businesses throughout the Big Apple produce $4.5 billion per year in revenue, helping to make our city the vibrant and diverse place that it is.
As Ranking Member of the House Committee on Small Business, Congresswoman Velázquez is dedicated to helping entrepreneurs. She supports initiatives to limit the impact that rising energy costs and regulatory and tax burdens have on small businesses. Small firms also need assistance from Congress to secure better financing for capital purchases, obtain world-class training and development programs, and open doors to sell their products and services around the globe. Assisting small firms secure affordable health insurance for themselves and their employees is another top priority.
Our nation has always relied on the proven innovation and flexibility that comes with a small business economy. Entrepreneurs count on Congresswoman Velázquez as an unyielding advocate of their rights and needs, and can be certain that she will continue her efforts to provide them with the tools needed to succeed.
More on Small Business
Washington, D.C. – Today, two members of the U.S. House of Representatives introduced legislation aimed at ending a predatory commercial lending practice that, according to media reports, has ballooned in recent years. Reps. Nydia M. Velázquez (D-NY) and Dr.
Washington, DC – While Congress recently moved to help employee-owned firms utilize the Small Business Administration’s (SBA) lending programs, lawmakers are raising red flags that the way the rules are being drafted could create additional barriers. Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, and Senator Kirsten Gillibrand (D-NY) have written the Small Business Administration (SBA) expressing concerns over how the agency is implementing the new law.
Washington, DC – Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, today wrote the head of the Small Business Administration (SBA), requesting that the agency continue processing late applications for economic injury and physical damage loans related to Hurricane Maria. The window to apply for loans to assist with property damage expires today, while the application period for economic injury loans closes Wednesday, June 20th.
Washington, DC – Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, today wrote to the head of the Federal Emergency Management Agency (FEMA), requesting an extension for the application period for those seeking federal loans to recover from Hurricane Maria.
Measures Incorporated into Larger Defense Package
Washington, DC – As part of the FY 2019 National Defense Authorization Act, the U.S. House of Representatives today approved three amendments authored by Rep. Nydia M. Velázquez (D-NY). The Velázquez-authored provisions will help businesses in Puerto Rico by incentivizing federal agencies to award them contracts, focus federal resources on environmental problems in Vieques and help New York businesses that are looking to transition into employee ownership.
Washington, DC –Rep. Nydia M. Velázquez (D-NY) released the following statement regarding the release of President Trump’s budget today:
“Donald Trump campaigned on promises of standing for working people. This budget makes a mockery of those claims and makes clear where the Administration’s real priorities lie.
Washington, DC – Rep. Nydia M. Velázquez (D-NY) led seventeen of her House colleagues in calling on regulatory agencies to investigate whether Wells Fargo’s unethical cross-selling practices and illegal opening of secret accounts extended to its small business lending division. As the Ranking Democrat of the House Small Business Committee and a senior Member of the Financial Services Committee, Velázquez previously questioned Wells Fargo’s CEO about the topic at a Congressional hearing.
Washington, DC – With student loan debt mounting nationally, Rep. Nydia M. Velázquez (D-NY) today announced legislation that would assist college graduates who launch their own businesses with deferment options and forgiveness on most federally subsidized student loans. Her bill, H.R. 6197, the “Supporting America’s Young Entrepreneurs Act,” aims to foster business creation by removing one hurdle preventing graduates from launching their own ventures – the rising costs of securing a college degree.
Washington, DC – U.S. Rep. Nydia M. Velázquez (D-NY) today called on Governor Cuomo to help small businesses impacted by the Chelsea explosion. Under federal law, a state’s governor can certify that businesses have suffered economic harm from a disaster, which then allows small businesses, homeowners and renters to apply for emergency loans from the U.S. Small Business Administration (SBA). In a letter to Cuomo, Velázquez called for the Governor to exercise this option.
Washington - Rep. Nydia M. Velázquez released the following statement regarding lower estimates for funding for Red Hook Flood Protection:
