HB11

HB11 __**Good Things Come From Small Businesses**__ Written by Sophie Vachon and Maddy Kerchner In Economy and Civil rights.

There are not as many jobs in America as there used to be. Many jobs are going over seas and objects that could be made in America are being made elsewhere. On average, 8.1% of Americans find themselves without a job. Minority groups, such as Latinos, African Americans, and women, are having an even harder time finding jobs. The African american Unemployment rate has jumped to almost 17% and it is continue to grow. The Unemployment rate for Hispanics and women is also higher than the average unemployment rate across America. In America there is also

Our bill would apply to those who wish to start a small business or those who need funding to repair their small business and are part of a minority group, such as women or African Americans. A small business is defined as a business with 500 or less workers. Any person willing to start or fix a business with 500 people or less, is part of a minority group, and is willing to hire previously unemployed men and women can apply.The owner must hire many workers who are

Anyone who needs money to fund and start or repair their small business can send in an application to The United states Small Business Association. There, workers and business men and women will check the applications. They will make sure applicants are part of a minority group and that they will be able to pay off the loan given. They will also hypothesize if the business will be successful, for it would be a waste of money to fund a business that is doomed to fail. The workers will then meet with the to-be business owners and interview them further on their business plans and ideas. If everything goes well, the owner will receive up to $20,000 in loans. This money must be paid back no later than 7 years after it was granted with interest. Money will only be granted for three consecutive years. After that time, if the bill is successful, it can be renewed. Applications will be accepted on January 1st of 2013 and will end on December 31st of 2015.