[Congressional Record Volume 145, Number 116 (Thursday, September 9, 1999)]
[Extensions of Remarks]
[Pages E1841-E1842]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               PRIME ACT

                                 ______
                                 

                           HON. BILL McCOLLUM

                               of florida

                    in the house of representatives

                      Thursday, September 9, 1999

  Mr. McCOLLUM. Mr. Speaker, I rise today to emphasize my support for 
funding for the Program for Investment in Microentrepreneurs, the PRIME 
Act, H.R. 413, and my hope that funding will be made available for this 
worthy bill. The PRIME Act provides money for training and technical 
assistance for low-income entrepreneurs, complementing the Small 
Business Administrations' Microloan program, which provides loan 
capital and assistance in accessing capital.
  This spring the Banking Committee held hearings on the PRIME Act and 
heard first hand from microentrepreneurs, microenterprise researchers, 
and representatives of community based microenterprise organizations. 
Their message was clear. Microenterprise development is an effective 
tool for economic development and poverty alleviation. Training is 
absolutely critical to the sustainability and success of 
microenterprises owned and operated by very low-income entrepreneurs. 
Better yet, providing motivated individuals with business training is 
akin to teaching someone how to fish, instead of giving them fish. With 
a little education and training, very low-income microentrepreneurs can 
build and sustain their businesses, and in doing so, contribute to the 
economic life of a family, community, and ultimately our nation as a 
whole.
  I am convinced that microenterprise development has an important role 
to play in the diversification of our economic base as well as in the 
advancement of our working-poor population. But I also recognize that 
microenterprise development requires a modest public investment--
particularly in the area of training and technical assistance for low-
income entrepreneurs. I believe it is a prudent and wise investment.
  The PRIME Act, H.R. 413 has passed through both the Banking Committee 
and the Small Business Committee with enormous support, and was able to 
garner 110 cosponsors before passing out of Committee. Clearly, there 
is a strong desire within Congress to see H.R. 413 made into law this 
year. As a member of the Banking Committee, and a cosponsor, I will 
work to see that this happens, and I encourage my colleagues to join me 
in this effort.

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