As much of a nightmare as this recession has been for the entire global economy, and as scary as it was to watch the entire capital market system upon which capitalism rests teeter on the brink, there has been one ray of sunshine to emerge from the shambles. Some of the more obscure microbusiness service providers have gotten a bit more attention from all parties concerned. Last year, Microloan Intermediaries captured the attention of the media when they were seen to be one of a very few sorts of small business lenders that were still lending throughout early 2009. In spite of all the recent notoriety, however, Microloan Intermediaries are in trouble these days with a problem they have in common with the nation’s Women’s Business Centers (WBCs). In order to qualify for the federal grants appropriated to support them, participants in both programs are required to secure matching funding from other sources (state and local governments, colleges and universities, or local philanthropic organizations).

That can be difficult enough under any circumstances. In the current economic climate, everybody is tightening their belts, making that matching funding that much more difficult to come by and resulting in service providers either closing their doors or requesting smaller grants than they really need. In response, Senate Small Business Committee Chairwoman Mary Landrieu (D-LA) introduced the Small Business Community Partners Relief Act of 2010 (S. 3165). This bill very simply gives the SBA Administrator the authority to temporarily waive the matching funds requirements, thus allowing Microloan Intermediaries and Women’s Business Centers to apply for and accept federal grants. That, in turn, will help them to keep their doors open and let them help the microbusinesses in their communities to keep their doors open. The bill has been referred to the Small Business Committee; it has not yet been scheduled for either a hearing or a markup and, as yet, there is no companion legislation in the House.