H.R. 4387 would authorize the appropriation of $2 million a year through 2023 for the Growth Accelerator Fund Competition, a program administered by the Small Business Administration (SBA) that awards grants to entities that assist small businesses with accessing capital, finding mentors, and developing strategies. In addition, the act would require the SBA to develop performance metrics to evaluate the effectiveness of the program. In 2019, the SBA allocated $2 million for that program.
CBO estimates that implementing H.R. 4387 would cost $6 million over the 2020-2024 period to administer the program and distribute grants.
Although H.R. 4387 would authorize the appropriation of $2 million in 2020 for the Growth Accelerator Fund Competition program, CBO estimates that $2 million has been allocated for that program, on an annualized basis, from funds made available under the current continuing resolution (Public Law 116-69), which provided appropriations through December 20, 2019. Accordingly, CBO does not estimate any budgetary effects from the authorization for 2020.
