BizBriefcase: Free market group awards scholarships
Free market group awards scholarships
The Freedom and Responsibility of Economic Education Foundation, also known as FREE, awarded two scholarships to two students from Caprock Academy to attend an educational series on the importance of financial responsibility.
Rachel Ellinwood, a sophomore, and her brother, Mitchell, a junior were selected by the foundation because of their academic performance and background in history and fundamental economic principles, a foundation spokeswoman said.
“They seem to understand capitalism,” said Phyllis Hunsinger, president of the foundation board. “They don’t view business as evil or profit as bad.”
Hunsinger said the purpose of the program is to cultivate leaders for the future in the history, tradition and importance of the capitalist way of life.
“We understand that the future of our country is in the hands of these students,” she said. “We feel it is so important to educate them on fiscal responsibility and the importance of understanding economics, even at a young age.”
The FREE Foundation is a non-profit organization based in Grand Junction that promotes awareness of how a free market economy works by providing funding for teachers and students to further their education and financial literacy.
For more information, call 314-1007 or visit free-dom.us.com.
U.S. may extend small business loans to bigger firms
The U.S. Small Business Administration has proposed increasing small business size standards for both the wholesale and retail trades.
If adopted, nearly 4,000 mid-sized firms will for the first time become eligible for SBA’s loan programs.
The proposed rule was published in the Federal Register Tuesday.
The new standards would redefine the maximum number of employees a firm in these industries may have and continue to be categorized as a small business.
The proposed revisions primarily affect eligibility for SBA’s financial assistance programs.
Comments can be submitted on the proposed rule on or before July 18 at regulations.gov, reference #3245-AG49; or, by mail to Khem R. Sharma, chief, Office of Size Standards, 409 3rd St., SW, mail code 6530, Washington, D.C. 20416.
For more information about SBA’s revisions to the small business size standards, click on “What’s New with Size Standards” on SBA’s website at sba.gov/size.