SBA: Proposed Rule Reforms 8(a) Business Development Program to End Racial Discrimination in Federal Contracting
Agency issues new proposed rule to dismantle race-based admissions Today, the U.S. Small Business Administration (SBA) released a proposed rule to end racial discrimination in the 8(a) Business Development Program and dismantle the race-based admissions framework that previously barred Americans of certain races from accessing 8(a) set-aside and sole-source contracting opportunities. Under the new rule, individuals will no longer…
SBA: Agency-Wide Reorganization Announced to Modernize, Drive Operational Efficiency, and Enhance Accountability to Taxpayers
Reforms Strengthen SBA’s Service Levels, Technology, and Access for Small Businesses and Disaster Survivors Today, the U.S. Small Business Administration (SBA) announced an agency-wide reorganization designed to modernize its organizational structure, improve operational efficiency to better serve small businesses, and strengthen accountability to taxpayers. By aligning employees around departmental expertise and management, the reorganization will reduce significant…
SBA: First $30 Million in Loans Delivered Through SBA 90% Grocery Guarantee Announced
Early loan approvals are directing new capital across food supply chain to support lower grocery costs Today, the U.S. Small Business Administration (SBA) announced it has approved 19 loans totaling more than $30 million in just one month through its enhanced 90% Grocery Guarantee. These early approvals mark an important step in President Trump’s effort to make groceries…
SBA: General Motors and SBA to Host Michigan Supplier Matchmaking Expo on June 5th
Registration Now Open for June 5 Event Connecting Major Buyers with Local Small Businesses to Strengthen Domestic Supply Chains Today, the U.S. Small Business Administration (SBA) announced that its second 2026 Supplier Matchmaking Expo will take place on June 5, 2026, at the MotorCity Casino in Detroit, Michigan. The event, which is co-hosted by General Motors, is designed to advance…
SBA: Administrator Loeffler Applauds Signature of Investing in All of America Act to Strengthen the SBIC Program
H.R. 2066 strengthens the SBIC program, expanding access to capital for rural communities and critical industries Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration(SBA), applauded President Donald J. Trump for signing H.R. 2066, the Investing in All of America Act, into law. The legislation, which was sponsored by U.S. House Small Business and Entrepreneurship Committee Member…
SBA: Cumulative 7(a) and 504 Loan Limit Doubled to $10 Million
Effective July 4, eligible borrowers can access record levels of SBA-backed funding Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), announced a new rule that will allow eligible borrowers to combine their 7(a) and 504 loans for up to $10 million in SBA-backed financing, increasing the cumulative loan limit from its current $5 million…
SBA: $1 Million Patriot Pitch Competition Launched to Showcase America’s Entrepreneurs
Freedom 250 Event Celebrates Free Enterprise Through National Small Business Competition for $1 Million Cash Prize Pool Funded by Clover Today, the U.S. Small Business Administration (SBA) launched the Patriot Pitch Competition, a national celebration of 250 years of American free enterprise and the small businesses that drive innovation, create jobs, and generate economic growth. Featuring a…
SBA: New $50 Million Grant Opportunity Announced to Support Made in America Manufacturing, Workforce Training
Manufacturing in America E2G Grants will fund training for small manufacturers in critical industries Today, the U.S. Small Business Administration (SBA) announced a new funding opportunity offering up to $50 million in grant awards to as many as 10 eligible applicant organizations who will provide training and technical assistance to support small manufacturers in the SBA’s Empower to Grow (E2G) Program. The Manufacturing…
ICBA: Statement on CFPB’s Final Rule to Implement Section 1071 Small-Business Reporting Requirements Issued
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Consumer Financial Protection Bureau’s final rule opens in a new tabto implement Section 1071 small-business reporting requirements. “ICBA commends the administration for heeding community banker concerns with the CFPB’s 1071 rule and making needed improvements to help mitigate the…
ABA: Statement on CFPB’s Section 1071 Final Rule
“We applaud the CFPB for finalizing a streamlined Section 1071 rule that addresses significant legal and operational concerns from the prior rule while providing clearer, more workable requirements for banks. This final 1071 rule appropriately refocuses on core lenders, products and data points without imposing undue compliance costs that would make it harder for America’s…