Just last week, ahead of the biggest shopping day of the year, Small Business Administrator Isabel Casillas Guzman announced that the SBA delivered $50 billion in capital, disaster relief, and bonding to small businesses and disaster-impacted communities across America during FY2023.

The SBA experienced another huge year of lending with upticks across its microloan program, and its 7(a) Loan Program. In addition, the Biden-Harris Administration’s commitment to equity enjoyed significant increases in SBA lending to Black, Latino, Asian American, Pacific Islander and Native Hawaiian, Native American, women, and veteran small business owners in FY23.

 “Starting and running a business takes tremendous grit and determination, but it also takes capital — something too many enterprising Americans have historically been unable to obtain equitably and affordably,” said SBA Administrator Guzman. “The Biden-Harris Administration remains committed to simplifying and addressing persistent inequities in accessing capital to ensure all small business owners can get the funding needed to grow and create jobs for our economy. In Fiscal Year 2023, the SBA transformed its lending and investment programs and expanded its capital partners to deliver nearly $50 billion in startup, growth, and recovery capital, as well as surety bonds, including more small business lending to people of color, women, and veterans. As we build on our progress, the SBA will continue to prioritize reforms that will help level the playing field to further the small business boom fostered by Bidenomics.”

To read the SBA’s complete press release from November 21, Click Here

If you would like to explore how this could positively impact your firm and its work in the government marketplace, including how you may or may not be utilizing federal certifications I always recommend contacting an industry expert such as ez8a, Advance 8a or Advance GSA. None charge for an initial consultation.