SBA: Data Shows Major Increase in Loans to Black-Owned Businesses Since 2020
The number and share of SBA-backed 7(a) and 504 loans going to Black-Owned businesses more than doubled since 2020 Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), joined Congressman Steven Horsford at the 2023 Congressional Black Caucus Foundation’s Annual Legislative Conference today to announce new data showing the rate of SBA-backed loans going to Black-owned businesses…
SBA: Over $5 Million Announced to Support STEM, R&D-Focused Small Businesses
Growth Accelerator Fund Awards $150,000 to 35 Partnerships Across National Priority Areas Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced the SBA’s 2023 Growth Accelerator Fund Competition Stage Two winners. Thirty-five award-winning accelerator partnerships will receive $150,000 each to help advance equitable investment…
SBA: Actions Taken to Safeguard Integrity of HUBZone Program
SBA Decertifies Firms Found to Have Misused Contracting Programs for Underserved Communities Today, U.S. Small Business Administration (SBA) announced continuing measures to root out abuse and fortify the integrity of the HUBZone program. Today’s announcement follows an SBA internal investigation resulting from improved processes and compliance controls that uncovered multiple firms misusing the HUBZone program. In response,…
SBA: Proposed Rule Empowers Returning Citizens to Start and Grow Businesses
Updated regulations would remove barriers to capital for entrepreneurs with certain types of justice involvement Today, the U.S. Small Business Administration (SBA) invited public comment on a proposed rule that would help expand access to SBA loan programs for people with certain criminal history records. These proposed reforms would open up entrepreneurship opportunities to the one in…
SBA: Nearly $40 Million in Disaster Assistance Loans Provided to Those Impacted by Maui Wildfires
Today, SBA Administrator Isabella Casillas Guzman announced that the U.S. Small Business Administration (SBA) has approved nearly $40 million in federal disaster loans for Hawaii business owners and residents impacted by wildfires that began August 8. The SBA, through its Disaster Field Operations Center West (FOCW), has approved nearly $8 million for businesses and more than $30 million for homeowners…
SBA: Call for Nominations Announced for 2024 National Small Business Week Awards
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 call for nominations for the 2024 National Small Business Week (NSBW) Awards. The NSBW Awards recognize the outstanding achievements, triumphs, contributions, and resilience of SBA-assisted small businesses that help to drive the American economy. “Small businesses…
SBA: Veterans Small Business Advisory Committees Schedule Virtual Public Meetings for September 13th and 14th
Today, the U.S. Small Business Administration (SBA) Interagency Task Force (IATF) on Veterans Small Business Development and the SBA Advisory Committee on Veterans Business Affairs (ACVBA) announced they will hold their next set of virtual public meetings on September 13 and 14, respectively. “The IATF and ACVBA meetings are open to the public each quarter to encourage business…
SBA: Legacy Businesses Recognized During SBA’s 70th Anniversary Celebration
Today, as part of the agency’s 70th anniversary celebration, SBA Administrator Isabella Casillas Guzman, the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognizes U.S. Small Business Administration(SBA) Legacy Businesses from our 68 district offices of which many recipients started small and leveraged SBA resources on their journey to becoming household names. Administrator Guzman…
SBA: $20 Million Dedicated to New Small Business Export Growth
Administrator Guzman Announces 2023 State Trade Expansion Program Awardees Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced $20 million in grants awarded to 49 state and territory international trade agencies across the country as part of the SBA’s State Trade Expansion Program…
SBA: 14 Appointees Announced for the New Investment Capital Advisory Committee
The Committee Will Advise SBA in the Development of a More Inclusive and Accessible Ecosystem for Small Businesses Nationwide Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced the appointment of 14 members to the newly established federal Investment Capital Advisory Committee (ICAC)….