Next Generation Entrepreneurship Corps Act

Summary

Next Generation Entrepreneurship Corps Act This bill establishes the Next Generation Entrepreneurship Corps Program to promote entrepreneurship in the most distressed regions of the United States, including those regions affected by COVID-19 (i.e., coronavirus disease 2019), by awarding participating fellows a two-year stipend to start and grow a new small business. Fellows will receive (1) a $120,000, two-year stipend for living and basic startup expenses; (2) health care; and (3) interest-free federal student loan deferral for two years. Further, fellows shall receive mentorship from the Service Corps of Retired Executives and be matched with a full range of lenders, investors, and insurers. The bill also establishes a fund in the Department of the Treasury from which the SBA may provide loans for qualified investors to support a small business owned and operated under the program by a fellow.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 23 February 2021

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 23 February 2021

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• Introduced in Senate

  summary · EN · 23 February 2021

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