SBA opens additional sources of business capital to justice-impacted entrepreneurs
Last spring, the Small Business Administration (SBA) removed “most criminal history restrictions in its federally guaranteed loan programs…opening additional sources of business capital to justice-impacted entrepreneurs.” (Collateral Consequences Resource Center: “SBA finalizes rule limiting consideration of criminal history in loan programs,” April 30, 2024, by Margaret Love)
The SBA noted that there is no research showing an increased risk of default from this population of entrepreneurs.
“Studies show that entrepreneurship can reduce recidivism for unemployed formerly incarcerated individuals by as much as 30%.” (SBA: “Biden-Harris Administration Announces New Rule to Increase Economic Opportunity for Returning Citizens,” May 1, 2024, Press Release)
“…*most* criminal history restrictions”?
Willing to bet sex offenses were once again exempted, as they always are whenever a new law or program attempting to ease up on felons is enacted.
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