CFPB: Final Rule Issued to Create New Data Set on Small Business Lending Under Section 1071 Requirements

Rule will fulfill congressional mandate and shine light on key engine of American economy The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report information about the small […]

ABA: Statement on CFPB Small Business Data Collection Rule Released

“America’s banks oppose discrimination in any form and support enforcement of fair lending laws and the goals of Section 1071. Banks of all sizes have a long history of lending to creditworthy small businesses across the country, and ABA supports bank efforts to lend to underserved small businesses. “While today’s final […]

EDA: $1 Million Invested to Capitalize Revolving Loan Fund to Support Small Businesses in Northeast Ohio

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to Valley Economic Development Partners, Youngstown, Ohio, to capitalize and administer a Revolving Loan Fund that will serve small businesses in Mahoning and Trumbull counties, a region impacted by fluctuations […]

EDA: U.S. Department of Commerce Funds Eight Communities of Practice to Bolster Economic Competitiveness and Resiliency

Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) had completed awarding $27.9 million in cooperative agreements to establish eight economic development Communities of Practice. Communities of practice are designed to connect participants to capture and disseminate practical knowledge. Each Community of Practice supported […]

SBA: Small Business Investment Companies of the Year Announced

Companies and their managers to be formally recognized during National Small Business Week Awards Ceremony Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s 33 million small businesses, announced Stonehenge Community Impact Fund, L.P.  of Columbus, Ohio, and Balance Point Capital […]

SBA: Second Annual Women’s Business Summit Announced for March 28-29, 2023

The summit convenes women entrepreneurs and thought leaders from across the public and private sectors In honor of Women’s History Month, the U.S. Small Business Administration (SBA) will hold its 2023 Women’s Business Summit from March 28-29, 2023. The two-day hybrid summit will feature virtual panels, “Ask an Expert” workshops, and fireside chats […]

SBA: Registration Opens for National Small Business Week Virtual Summit Taking Place in May 2023

Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced that registration for the 2023 National Small Business Week Virtual Summit is now open. The two-day online event will take place from May 2-3, 2023. Attendance is free of charge, but registration […]

SBA: Research Sheds New Light on Small Business Exporters

Today, the U.S. Small Business Administration (SBA) released new findings from a commissioned study on the Total Addressable Market (TAM) of small business exporters in America.  Among the key findings from the study is new data, based on recent business surveys, that places the number of exporting small businesses at 1.3 million – an almost […]

SBA: 2023 State Small Business Persons of the Year Recognized

Top entrepreneurs to be formally recognized during National Small Business Week Awards Ceremony Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s 33 million small businesses, announced today the 2023 Small Business Persons of the Year from each of the 50 […]

SBA: New HUBZone Map Update Expands Small Business Program Participtaion and Federal Contract Eligibility

Hundreds of Small Firms in Economically Disadvantaged Areas May Now Qualify for HUBZone Certification Today, the U.S. Small Business Administration (SBA) announced the launch of a new Historically Underutilized Business Zone (HUBZone) preview map, which shows that hundreds of firms in newly released designated underserved areas will become eligible to apply for HUBZone certification, […]