Prison to Proprietorship for the Formerly Incarcerated Act

This bill amends the Small Business Act to establish a comprehensive entrepreneurship program for individuals formerly incarcerated in federal prisons. The Administrator of the Small Business Administration (SBA), in coordination with the Director of the Bureau of Prisons, is mandated to require the Service Corps of Retired Executives (SCORE) to provide these services nationwide.

The program's goal is to equip these individuals with the necessary tools, skills, and knowledge to identify and pursue small business opportunities. Services include mentoring, workshops, and instructional videos specifically designed for this population, covering topics such as drafting business plans, identifying sources of capital, and connecting with local resources. Participants will receive regular individualized mentoring sessions over a year to support their business development and entrepreneurial growth.

Furthermore, the bill requires assistance with identifying local resources and sources of capital, including help with preparing loan applications. SCORE is also tasked with surveying participants to assess their satisfaction with the services. Annually, the SBA Administrator must report to Congress on the program's performance and effectiveness, detailing metrics like the number of individuals mentored, mentorship hours, participant demographics, and survey analysis.