Rep. Chu Hosts Roundtable With U.S. Small Business Administrator and Local Small Business Owners
Pasadena, C.A. – Today, Rep. Judy Chu (CA-27) hosted U.S. Small Business Administrator Maria Contreras-Sweet in Pasadena to tour an area business and meet with local entrepreneurs. The visit comes just one week after Rep. Chu called attention to the expiration of the Small Business Administration’s (SBA) 7(a) lending program which provided more than $2 billion in capital to the 27th district since 1990. The House voted to increase authorization of the 7(a) program on July 27.
Rep. Chu and Administrator Contreras-Sweet visited EvoRx, a pharmaceutical research company and recipient of a Small Business Innovation Research (SBIR) grant. Following the visit, Rep. Chu held a roundtable discussion where minority, women, and veteran small business owners shared their unique personal stories, successes, and experiences with SBA. The round table also included representatives from the San Gabriel Valley Economic Partnership, the Pasadena Chamber of Commerce, Idealab, and Innovate Pasadena. Lastly, Rep. Chu and Administrator Contreras-Sweet hosted a meet-and-greet at Idealab, a small business incubator in the district. During the meet-and-greet, the larger community had the opportunity to ask questions regarding the state of the small business community. Rep. Chu released the following statement about the visit:
“Small business is the backbone of our economy, creating two out of three new jobs in the U.S. The San Gabriel Valley in particular is built on small businesses and our success is based on their success. This is why I believe it is so critical that SBA Administrator Maria Contreras-Sweet heard directly from the exemplary businesses here today. From a breast cancer survivor turned entrepreneur to an Afghanistan and Iraq war veteran with an inimitable recipe for delicious fried chicken, it’s truly amazing to hear about how entrepreneurs from such diverse backgrounds have overcome challenges and found success in unique ways. There are many things we can do at the federal level to help our small businesses grow and develop, and through these discussions today, we have a better roadmap for the months ahead.”