Today, the U.S. Small Business Administration (SBA) marks 65 years of serving as a voice and ally to millions of small businesses. Since its founding on July 30, 1953, SBA has connected small businesses with access to funding, mentoring, counseling, and when disaster strikes, support to recover and get back to business.
“The SBA has helped make the American Dream possible for millions of aspiring entrepreneurs over the years, and today the SBA’s commitment to growing the nation’s small business sector is as strong as it’s ever been,” said SBA Administrator Linda McMahon. “On our 65th year, we renew our commitment to providing relevant products and services to these vital job creators. As the Administration’s policies continue to drive our economy forward and encourage more Americans to return to the workforce, small business owners and entrepreneurs will look to create and expand. SBA will be their partner every step of the way.”
There are currently over 30 million small businesses and they create two out of every three net new jobs in the private sector each year, and more than half of all Americans either work for or own a small business. SBA provides a “hand up” to these businesses with access to capital, mentorship and counseling to entrepreneurs, connections to contracting opportunities, as well as directly issues low-interest loans to people affected by declared disasters.