SBA: Lending Network Strengthened with New Public-Private Partnerships Supporting Underserved Communities
Four New Small Business Lending Companies Authorized to Support America’s Entrepreneurs in Underserved Communities Today, 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 that the SBA has granted Small Business Lending Company (SBLC) licenses to four lending institutions committed…
SBA: President Biden Signs Law to Deliver Funding to SBA to Reopen Its Disaster Loan Program and Support Recovery in Communities Across the Country
SBA can now confirm loan offers to over 21,000 qualified disaster loan applicants waiting for financial assistance to recover Today, President Joe Biden signed(Link is external) the American Relief Act, 2025(Link is external) into law, providing funding for the U.S. Small Business Administration’s Disaster Loan Program. With this funding, which required Congressional approval, the SBA can resume processing urgently needed…
Census Bureau: New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses Released
The U.S. Census Bureau today released new estimates on the characteristics of employer businesses. According to the 2023 Annual Business Survey (ABS), which covers reference year 2022, there were approximately 5.9 million U.S. employer firms, of which 1.3 million (22.6%) were minority-owned; 273,542 (4.7%) were veteran-owned; and around 1.3 million (22.3%) were owned by women. This release also includes…
SBA: Growth Accelerator Fund Competition to Accelerate Innovation-Driven Ecosystem Building Announced Offering Up to $9 Million in Awards
Entrepreneur Support Organizations Will Compete in Two Stages for $75,000 to $150,000; 2025 Application Opens Jan. 8, 2025 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 and startups, announced the upcoming launch of the 2025 Growth Accelerator Fund Competition…
FFIEC: Federal Bank Regulatory Agencies Release 2023 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2023. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
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…