SB5631 amends the Small Business Act to create a funding program for organizations supporting startup businesses in their formation and early growth.

SB5631 amends the Small Business Act to establish a program providing funding for organizations that support startup businesses in their formation and early growth stages. These organizations, often classified as growth accelerators, provide entrepreneurs with resources and services to produce viable businesses. Eligible entities must be located in the United States and demonstrate a record of assisting new small business concerns. The program prioritizes accelerators that serve underrepresented groups, including women, minorities, and veterans.

SB5631 amends the Small Business Act to create a funding program for organizations supporting startup businesses in their formation and early growth.

SB5631 amends the Small Business Act to establish a program providing funding for organizations that support startup businesses in their formation and early growth stages. These organizations, often classified as growth accelerators, provide entrepreneurs with resources and services to produce viable businesses. Eligible entities must be located in the United States and demonstrate a record of assisting new small business concerns. The program prioritizes accelerators that serve underrepresented groups, including women, minorities, and veterans.