Senate Small Business and Entrepreneurship Committee Ranking Member Olympia J. Snowe announced that the Women's Business Center (WBC) in Wiscasset will receive $50,000 in aid from the Small Business Administration (SBA).  The grant, made under the SBA's Three-Year Renewable Funding Program, came as a result of legislation Senator Snowe authored in 2007 that extends the eligibility of WBCs to apply for funds through the grant program. 

"I am so pleased that the Women's Business Center in Wiscasset has received this grant, enabling it to continue to provide counseling and other assistance to women-owned small businesses throughout Maine," said Senator Snowe.  "Given the current state of the economy and the fact that small businesses represent 99.7 percent of all employer firms, it is absolutely vital that we marshal all the resources at our disposal to help new and existing enterprises to grow and, most importantly, create new jobs."

WBCs assist businesswomen seeking to start or expand enterprises through a variety of training, counseling, and education programs.  The SBA awarded the Wiscasset WBC $50,000 in operational funds for the six months remaining in fiscal year 2008, which ends in September, and the Center will be extended participation in the Renewable Funding Program until 2010.

Legislation Senator Snowe drafted with Small Business Committee Chairman John Kerry (D-Mass.) and Senator John Sununu (R-N.H.) established the Three-year Renewable Funding Program for WBCs that had exhausted eligibility for existing program funds.  The measure provides WBCs up to $150,000 in matching funds from current program money for operating expenses, adding no additional cost to taxpayers.