Mobile Menu - OpenMobile Menu - Closed

Congresswoman Nydia Velazquez

Representing the 7th District of New York

Connect

Small Business

Small firms are the backbone of the American economy, and nowhere is that more clear than in New York City. More than 200,000 small businesses throughout the Big Apple produce $4.5 billion per year in revenue, helping to make our city the vibrant and diverse place that it is.

As Chairwoman of the House Committee on Small Business, Congresswoman Velázquez is dedicated to helping entrepreneurs. She supports initiatives to limit the impact that rising energy costs and regulatory and tax burdens have on small businesses. Small firms also need assistance from Congress to secure better financing for capital purchases, obtain world-class training and development programs, and open doors to sell their products and services around the globe. Assisting small firms secure affordable health insurance for themselves and their employees is another top priority.

Our nation has always relied on the proven innovation and flexibility that comes with a small business economy. Entrepreneurs count on Congresswoman Velázquez as an unyielding advocate of their rights and needs, and can be certain that she will continue her efforts to provide them with the tools needed to succeed.

More on Small Business

November 15, 2019 Press Release

Washington, DC –The U.S. House of Representatives has approved legislation authored by Rep. Nydia M. Velázquez (D-NY) that would help companies operating in Puerto Rico and the other U.S. territories to export their products abroad.  Velázquez’s legislation, the Office of Territorial Exporting Act, passed as part of H.R. 4863, House Democrats’ larger bill to reauthorize the Export-Import Bank. 

November 14, 2019 Press Release

Washington, DC –The House Financial Services Committee has approved legislation authored by Rep. Nydia M. Velázquez (D-NY) that would end a predatory commercial lending practice. The bill, H.R. 3490, the “Small Business Lending Fairness Act,” would amend the Truth in Lending Act (TILA) to restrict the use of predatory contract clauses called “confessions of judgment,” which are often used in small business loans.   

November 14, 2019 Press Release

Small Business Lending Fairness Act Would End “Confessions of Judgment” in Commercial Lending

Unfair Loan Terms Have Been Linked to Taxi Medallion Crisis

July 29, 2019 Press Release

Washington, DC – Rep. Nydia M. Velázquez (D-NY) and Rep. Steve Stivers (R-OH) have introduced H.R. 4074, the Clarifying Law Around Insurance Marijuana (CLAIM) Act, which would help businesses operating in the rapidly growing cannabis sector to obtain insurance products.

"Due to discrepancies in federal and state law, insurers are understandably reluctant to provide coverage to legitimate, cannabis-based businesses," said Velázquez. "Without casualty, property and title insurance coverage, the growth of this industry will be impeded if not blocked entirely."

June 25, 2019 Press Release

Washington, D.C. – Two Members of the U.S. House of Representatives have introduced legislation aimed at ending a predatory commercial lending practice that, according to media reports, has harmed many small businesses in recent years.

May 7, 2019 Press Release

Two Small Navy Yard Firms Receive

National Small Business Week Recognition

Washington, D.C.—As the nation celebrates National Small Business Week, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) is saluting two small businesses located in New York’s 7th Congressional district that have been recognized as National Small Business Week Awardees by the Small Business Administration (SBA).

January 25, 2019 Press Release
Washington, DC – Rep. Nydia M. Velázquez (D-NY) released the following statement regarding news that a deal has been reached to end the government shutdown:
 
“I’m pleased the President and Congressional Republicans have come to their senses and, finally, agreed to put an end to the longest government shutdown in history. Unfortunately, this type of solution could and should have been reached weeks ago, avoiding hardship for 800,000 federal employees, thousands of subcontractors and countless other Americans. 
 
January 7, 2019 Press Release

Washington, DC – Rep. Nydia M. Velázquez (D-NY) marked the first day of the 116th Congress by introducing a range of bills meant to benefit New York’s working families, students, entrepreneurs, seniors and others.  

“With a new Democratic Majority comes renewed opportunity to advance policies that benefit New Yorkers and working people throughout the nation,” Velázquez said. “I look forward to working alongside my colleagues to advance these commonsense proposals in the new Congress.”  

December 19, 2018 Press Release

Washington, D.C. – Today, two members of the U.S. House of Representatives introduced legislation aimed at ending a predatory commercial lending practice that, according to media reports, has ballooned in recent years. Reps. Nydia M. Velázquez (D-NY) and Dr.

November 19, 2018 Press Release

Washington, DC – While Congress recently moved to help employee-owned firms utilize the Small Business Administration’s (SBA) lending programs, lawmakers are raising red flags that the way the rules are being drafted could create additional barriers.  Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, and Senator Kirsten Gillibrand (D-NY) have written the Small Business Administration (SBA) expressing concerns over how the agency is implementing the new law.