Support legislation to create a Small Business Administration grant program providing up to $1 million to eligible startup support organizations in underserved communities and authorizing $80 million annually for 10 years.

Cory A. Booker · New Jersey · Democratic

policy impact 0.72 specificity 0.86 extraction confidence 78%

Commitment kind: action. Promised action: Support legislation to authorize $80 million annually for 10 years through the Small Business Administration for grants of up to $1 million to eligible startup accelerators, incubators, universities, and other organizations.. Promised outcome: Expanded support for early-stage businesses in rural, low-income, and historically underserved communities through mentorship, leadership development, financing access, workspace, and other services.. Deadline: unknown; not assumed expired. Press release from Senator Cory Booker's Senate office announcing the SOAR Act during his current Senate term.

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The bill would authorize $80 million annually for 10 years through the Small Business Administration (SBA), including grants of up to $1 million for eligible startup accelerators, incubators, universities, and other organizations that help entrepreneurs launch and grow their businesses. Funding could support mentorship, leadership development, access to financing, workspace, and other services for early-stage businesses.

Booker's office described the SOAR Act as authorizing $80 million annually for 10 years through SBA grants of up to $1 million for organizations supporting early-stage businesses.

Booker, Van Hollen, Hirono, Blunt Rochester Introduce SOAR Act to Expand Support for New Small Businesses with Up to $1 Million in Grants
primary · press_release · model gpt-5.5

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