CBE Act of 2022

Bill 117 HR 7461, also known as the CBE Act of 2022, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to establish a program within the Small Business Administration (SBA) to provide grants to community-based organizations (CBOs) that support small businesses in underserved communities.

The CBE Act of 2022 aims to address the disparities in access to resources and support for small businesses in low-income and minority communities. By providing grants to CBOs that work directly with these businesses, the bill seeks to help them grow and thrive in a more equitable economic environment.

The program established by the CBE Act of 2022 would prioritize funding for CBOs that have a proven track record of supporting small businesses in underserved communities. These organizations would be required to use the grant funds to provide technical assistance, training, and other resources to help small businesses succeed. Overall, the CBE Act of 2022 is designed to promote economic development and job creation in communities that have historically been marginalized and underserved. By empowering CBOs to support small businesses in these areas, the bill aims to level the playing field and create opportunities for economic growth and prosperity for all Americans.