This bill updates the Small Business Administration’s Office of Rural Affairs to better serve small businesses in rural areas. It requires a qualified leader (an Assistant Administrator) with experience helping rural small businesses, and shifts wording to focus clearly on “rural small business concerns.” The office must promote SBA programs, host webinars and outreach events across the country, and work with partners like the National Travel and Tourism Office at the Department of Commerce.

The SBA must also post a public report within 180 days of the law taking effect, and then every year. The report must list the office’s leader, budget, and staff, summarize activities, count webinars and outreach events, analyze how SBA loans serve rural businesses, and share what was learned from outreach.

Key points

• Who is affected: Rural small business owners; the SBA’s Office of Rural Affairs; federal, state, and local partners invited to outreach events.
• What changes: A qualified leader is required; the office will promote SBA programs, host webinars and regional outreach, and coordinate with the National Travel and Tourism Office; terms are updated to consistently refer to “rural small business concerns”.
• When: Public reporting starts 180 days after enactment and continues annually.