EDA: $600,000 Invested to Support Small Business Growth in Puerto Rico
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to Friends of Puerto Rico in Aguadilla, to support small business growth in the region. This grant will establish a technical assistance program to provide training, education, and access to funding for small businesses impacted by Hurricane Fiona. This EDA…
SBA: Interagency Task Force to Address Veteran Small Business Development at December 11th Public Meeting
Today, the U.S. Small Business Administration (SBA) announced that the upcoming quarterly meeting for the Interagency Task Force (IATF) on Veterans Small Business Development will be Wednesday, Dec. 11. This meeting is open to the public. “Veterans and military families have an innate persistence that makes them well-suited for entrepreneurship and the Small Business Administration is proud…
ABA: Associations Representing Banks and Credit Unions of All Sizes Call on Congress to Reject New Credit Card Mandates
Any legislative initiatives to expand the power of the federal government to intervene in the U.S. credit card market would harm small businesses and consumers across the country, the American Bankers Association, America’s Credit Unions, Bank Policy Institute, Consumer Bankers Association, Electronic Payments Coalition, Independent Community Bankers of America, Mid-Size Bank Coalition of America, and…
SBA: Season of Small Business to Kick Off with Small Business Saturday on November 30th
This Year’s Theme — Gift Big, Shop Local™ — Encourages Shoppers to Support Local Small Businesses Throughout the Holiday Season Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, is urging Americans to embrace the spirit of the holiday…
CFPB: Pilot Study Finds Differential Treatment in Small Business Lending Markets
Lenders less likely to encourage Black entrepreneurs and more often steer them toward alternative financing Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business owners seeking loans. The research found that Black entrepreneurs received less encouragement to apply for a loan and…
SBA: Surety Program Notches Best Year in 25 Years, Bonding $2.8B in Contracts to Small Businesses
Agency Announces Top Performing Surety Partners, Bonding Agencies “Under the Biden-Harris Administration, the SBA’s capital programs have been transformed to reach new highs as we continue to deliver historic levels of support for small businesses – including those benefiting from new contracts and supply chain expansion under the President’s Investing in America Agenda,” said SBA Administrator…
SBA: New Report Reveals Historic Surge in Small Business Financing
Dramatic FY24 Growth Driven by Small-Dollar 7(a) Loans and Loans to Women, Black, and Latino Entrepreneurs Today, Vice President Kamala Harris and Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s more than 34 million small businesses in President Biden’s Cabinet, announced(Link is external) that the SBA delivered a transformative $56 billion…
SBA: Funding for New Disaster Loans Exhausted
Disaster Survivors in Need of Loans Should Continue to Apply While SBA Awaits Additional Funding Today, the SBA announced that it has exhausted funds for its disaster loan program after warnings that funding would soon run out following increased demand from Hurricane Helene. Until Congress appropriates additional funds, the SBA is pausing new loan offers for its direct,…
SBA: $9 Million in Grants Awarded to 49 Organizations Across America to Help Underserved Communities Access Development Funding and Innovative Research
Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced that the SBA has issued 49 grants up to $200,000 each to organizations supporting startups through specialized training, mentoring, and technical assistance under the Federal and State Technology (FAST) Partnership Program. “FAST…
SBA: 14 New Awards Announced for Regional Innovation Cluster Network to Drive Nationwide Small Business Growth, Job Creation and Innovation
Awardees Will Serve as Hubs for Local Economies in BioTech, Cybersecurity, Smart Manufacturing, and Agriculture Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced the expansion of the SBA’s Regional Innovation Cluster (RIC) network with 14 new awards. These awards aim…