SBA: “Investing in America: Small Business Tools and Resources” Webinar Series Launched by SBA and the Public Private Strategies Institute
The U.S. Small Business Administration (SBA) formally announced today its “Investing in America: Small Business Tools and Resources” series, a new collaboration with Public Private Strategies Institute (PPSI) to expand public awareness of SBA’s programs, priorities, and initiatives that will empower business owners across the country, particularly those from underserved and disadvantaged communities. As part of…
SBA: $8 Million in PRIME Grants Awarded to Help Micro-Entrepreneurs
Grants will help 32 organizations with program development and provide training and technical assistance to improve access to capital for economically disadvantaged microentrepreneurs Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced the awardees for the 2023 Program for Investment in…
SBA: Extension of Moratorium on 8(a) Eligibility Requirement Announced
A Bona Fide Place of Business moratorium will increase the opportunity for small and disadvantaged businesses to expand and grow their businesses Today, on her first day of a multi-city Alaska trip, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the extension of the 8(a) Business Development Bona Fide Place of Business (BFPOB) Requirement Moratorium through…
SBA: Interim Guidance Released for 8(a) Program Participants in Light of Recent Lower Court Ruling
Today, the U.S. Small Business Administration released interim guidance regarding the 8(a) Business Development Program in light of a United States District Court ruling in Ultima Servs. Corp. v. Dep’t of Ag. affecting the program’s determination of social disadvantage. The updated interim guidance for 8(a) Program participants and applicants can be found on the SBA’s website here. The SBA, in…
SBA: Implementation Announced for Transformational SBIC Program Reforms
Reforms of SBA’s Small Business Investment Company Address Gaps in Equity and Debt Financing for Underserved and Undercapitalized Small Businesses Effective August 17 Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration (SBA) Small Business Investment Company’s (SBIC) Diversification and Growth Final Rule is effective today. Under the new rule, which supports the Biden-Harris Administration’s economic and…
SBA: Small Business Loan Program Improvements Launched to Expand Access to Capital
Lending program improvements expand access to capital for small businesses and increases protection against fraud On August 1, the U.S. Small Business Administration (SBA) began implementing additional policies aimed at expanding small business access to capital by modernizing SBA’s signature 7(a) and 504 Loan Programs. Today’s loan program updates build on Administrator Isabella Casillas Guzman’s previous announcements that address…
SBA: U.S. Small Business Administration Marks 70th Anniversary
Federal Agency Highlights Its Legacy of Success in Supporting Millions of Small Businesses SBA Administrator Isabella Casillas Guzman issued the below statement ahead of the 70th anniversary of the U.S. Small Business Administration (SBA). The SBA was founded by President Dwight D. Eisenhower in 1953 when he signed the landmark “Small Business Act,” which established the…
SBA: Record-Breaking $163 Million Set in Federal Procurement Opportunities to Small Businesses
Today, Administrator Isabella Casillas Guzman announced that the Biden-Harris Administration exceeded its small business contracting goal of 23% in fiscal year (FY) 2022, awarding an all-time high 26.5% of federal contract dollars to small businesses. This historic level amounts to a $162.9 billion investment in the small business economy– an $8.7 billion increase from the previous fiscal year. Ten federal agencies earned an…
SBA: SBIC Modernization Final Rule Issued to Support Reforms to Transform Public-Private Investment
Small Business Investment Company Program modernization will seed America’s next generation of fund managers while increasing funding for underserved and undercapitalized markets Today, Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration (SBA)finalized a rule to modernize the Small Business Investment Company (SBIC) Program. Part of President Biden’s Investing in America Agenda, the SBIC Investment Diversification and Growth Rule will…
SBA: New Entrepreneurship Training Course Introduced for Military Spouses
Today, the U.S. Small Business Administration (SBA) launched a new business training program tailored to military spouses entitled “The Military Spouse Pathway to Business Program.” The program supports the recent White House Executive Order 14100, which strengthens economic opportunity for military and Veteran spouses, caregivers, and survivors. “The Biden-Harris Administration is working hard to create more economic opportunities for military families,…