The U.S. Small Business Administration (SBA) has a new program, called the Aspire Entrepreneurship Initiative, to provide training, and microloans, to previously incarcerated citizens. This continues the mission of the federal agency to explore new ways to make small business ownership more accessible.
Under the Aspire Initiative, the SBA can expand access to educational and financial resources, to people formerly incarcerated with a specific focus on parents. The aim is to facilitate the income generating opportunities and financial capability of these aspiring entrepreneurs.
An estimated 60% of formerly incarcerated individuals remain unemployed one year after their release, raising the risk of recidivism. Further, nearly 1 in 28 U.S. children have a parent who is currently incarcerated, and nearly half of all U.S. children have at least one parent with a criminal record.
The SBA believes that embracing an inclusive vision of entrepreneurship will grow our economy and create good-paying jobs. Find out more about the SBA, its free resources and programs, available to aid aspiring and existing entrepreneurs in Fremont and all over our region, through the Seattle District SBA website or at 206/553-7310.