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This bill amends the Small Business Act to establish an Office of Territorial Affairs within the Small Business Administration. The office would be led by an Assistant Administrator and would focus on delivering entrepreneurial development, capital access, disaster assistance, and federal contracting programs to small businesses in Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and the Northern Mariana Islands. The Assistant Administrator would serve as a liaison between territorial small businesses and federal agencies, conduct periodic reviews of SBA program accessibility, and host outreach events in the territories.
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