Sec. 3. Purposes
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/bill/119/s/3876/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purposes of the Spark Program established under section 49 of the Small Business Act, as amended by this Act, are to— spur economic growth in underserved communities by creating good paying jobs and increasing access to capital; increase prospects for success for small business concerns in underserved communities, which often suffer from higher business failure rates than the national average; create a pipeline for individuals in underserved and rural markets into small business ownership; close the gaps that underserved small business concerns often have in terms of revenue and number of employees, which represent lost opportunity for the economy of the United States; encourage collaboration between the Small Business Administration and organizations that serve low-income, minority, and rural communities; and grow existing incubators and accelerators that are focused on empowering underserved communities and entrepreneurs.