During a House Small Business Committee markup meeting before the Congressional recess, Rep. Nydia Velázquez (D-NY) spoke about increased support for the Office of Rural Affairs.
00:00Any other members who wish to be recognized for a statement on the bill?
00:06Seeing none, I would like to recognize the ranking member to speak on the bill and amendment.
00:11Thank you, Madam Chair.
00:12I am pleased to support legislation to enhance the Office of Rural Affairs,
00:17and I commend Ms. Goodlander, Mr. Weed, and Mr. Golden for their commitment to making this office operate more effectively for rural small businesses.
00:28In 2019, Mr. Golden, as a former member of the Small Business Committee, raised this as one of his top priorities for the committee
00:38because the office had been largely vacant for 15 years.
00:43He worked to ensure resources were devoted to the office.
00:48Similar legislation was approved by the committee in the last Congress.
00:52I am delighted that Ms. Goodlander is championing this Congress.
00:57Rural small businesses are powerful drivers of economic growth across the country,
01:03fueling the agriculture, tourism, manufacturing, and energy sectors.
01:09Yet, they receive disproportionately fewer SBA loans and resources than their urban counterparts.
01:16In FY 2025, only 16% of 7A loans and 13% of 504 loans got to rural areas.
01:29So today, we are sending a message to 7A lenders and 504 companies that Rural America must be taken care of.
01:39By codifying the Office of Rural Affairs, we will ensure that rural entrepreneurs have a permanent advocate at SBA to help them overcome persistent challenges.
01:51We have heard the challenges, and we know the gaps.
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