Empowering Encore Entrepreneurs Act of 2014

To authorize the Small Business Administrator to establish a grant program to empower encore entrepreneurs. 1. Short title This Act may be cited as the Empowering Encore Entrepreneurs Act of 2014 2. Definitions In this Act: (1) Administration The term Administration (2) Administrator The term Administrator (3) Encore entrepreneur The term encore entrepreneur (A) who is seeking to start a new small business concern or expand an existing small business concern; and (B) who— (i) is not less than 50 years of age; or (ii) has not less than 20 years of experience in a workplace. (4) Nonprofit organization The term nonprofit organization section 501(c)(3) (5) Small business concern The term small business concern 15 U.S.C. 632 (6) Small business development center The term small business development center 15 U.S.C. 648 (7) Women's business center The term women's business center 15 U.S.C. 656 3. Empowering encore entrepreneurs program (a) In general Subject to the availability of appropriations, the Administrator shall establish a program under which the Administrator may enter into contracts or cooperative agreements with, or make grants to, nonprofit organizations, including small business development centers, women's business centers, chapters participating in the SCORE program authorized by section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) (b) Uses of funds Amounts made available under subsection (a) may be used to provide technical assistance, mentoring, and other specialized training activities including— (1) online resources and training for encore entrepreneurs, including virtual networking and mentoring tools; (2) workshops, training, and business networking events for encore entrepreneurs; or (3) programs to assist encore entrepreneurs in remaining in or re-entering the labor market through self-employment. (c) Application An entity desiring a grant, contract, or cooperative agreement under subsection (a) shall submit to the Administrator an application that contains— (1) a description of the goals of the project to be funded; (2) a list of any partners that plan to participate in the project to be funded; and (3) any other information the Administrator determines is necessary. (d) Special consideration The Administrator shall give special consideration to applications seeking funding for programs for— (1) members of the Armed Forces impacted by base closures or realignment; or (2) encore entrepreneurs unemployed for a period of not less than 1 year. (e) Termination The program established in subsection (a) shall terminate on September 30, 2017. 4. Report on barriers faced by encore entrepreneurs (a) In general Not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with other relevant Federal agencies, shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that describes the barriers and obstacles faced by encore entrepreneurs in starting new small business concerns or expanding existing small business concerns. (b) Contents The report required under subsection (a) shall include— (1) a review of the accessibility and availability of credit and other forms of financing for encore entrepreneurs; (2) a review of the availability of Federal contracting opportunities for encore entrepreneurs; (3) a review of the accessibility and availability of counseling and mentoring programs for encore entrepreneurs; and (4) policy recommendations, if any, for improving Federal assistance and coordination on programs assisting encore entrepreneurs.

Summary: Empowering Encore Entrepreneurs Act of 2014 - Directs the Administrator of the Small Business Administration (SBA) to establish a program under which the Administrator may enter into contracts or cooperative agreements with, or make grants to, nonprofit organizations to provide technical assistance, mentoring, and other specialized training activities for encore entrepreneurs. Defines "encore entrepreneur" to mean an entrepreneur, business person, or owner of a small business concern who: (1) is seeking to start a new small business concern or expand an existing one, and (2) is at least age 50 or has at least 20 years of experience in a workplace. Directs the Administrator to give special consideration to applications seeking funding for programs for: (1) members of the Armed Forces impacted by base closures or realignment, or (2) encore entrepreneurs unemployed for a period of not less than one year. Terminates the program on September 30, 2017. Requires the Administrator to submit to specified congressional committees a report that describes the barriers and obstacles faced by encore entrepreneurs in starting new small business concerns or expanding existing small business concerns.