On June 14, 2022 SBA signed a Strategic Alliance Memorandum with the National Pan-Hellenic Council (NPHC)’s Council of Presidents, comprised of nine historically Black fraternities and sororities, sometimes referred to as the “Divine Nine.”
Represented on thousands of university campuses, including Historically Black Colleges and Universities (HBCUs), with members in leadership roles across civic and business organizations and the faith community, the NPHC boasts over 2.5 million active members and scores of alumni members. Taken together, this group of engaged leaders is a critical ally in helping build trust within key communities and introducing small business owners to critical resources to bolster their business outcomes as we seek to close the wealth gap. The NPHC represents the following organizations:
- Alpha Phi Alpha Fraternity, Inc.
- Alpha Kappa Alpha Sorority, Inc.
- Kappa Alpha Psi Fraternity, Inc.
- Omega Psi Phi Fraternity, Inc.
- Delta Sigma Theta Sorority, Inc.
- Phi Beta Sigma Fraternity, Inc.
- Zeta Phi Beta Sorority, Inc.
- Sigma Gamma Rho Sorority, Inc.
- Iota Phi Theta Fraternity, Inc.
SBA in the community
In line with the Biden-Harris Administration’s agenda outlined in the recently released SBA Equity Action Plan, SBA has instituted several major changes to level the playing field for all small businesses, including making impactful reforms to the Community Advantage (CA) Pilot loan program that prioritizes equitable access to capital for low-income borrowers and those from underserved communities, releasing disaggregated data across industries and sectors by race and ethnicity and helping to deliver contracting reforms to bring in new, diverse contractors, and launching the American Rescue Plan’s $100 million Community Navigators program.
Resources for developing and growing your business
Interested in starting a business? SBA has numerous resources for aspiring and current business owners including:
- Women’s Business Centers (WBCs)
WBCs provide free, to low-cost counseling and training and focus on women who want to start, grow, and expand their small businesses. SBA supports 146 Women’s Business Centers - the largest WBC network in the history of the SBA - signifying the tripling of WBCs at HBCUs and Minority Serving Institutions (MSIs) under SBA Administrator Guzman.
- Small Business Development Centers (SBDCs)
SBDCs provide counseling and training to small businesses including working with SBA to develop and provide informational tools to support business startups and existing business expansion.
- SCORE Business Mentoring
SCORE, the nation’s largest network of volunteers, provides expert business mentors at no cost to help small businesses plan, launch, manage, and grow.
- Small Business Digital Alliance
The Small Business Digital Alliance is a new cosponsorship agreement between SBA and Business Forward, Inc., a non-profit organization working with small business leaders to help connect small businesses with digital tools, trainings, and expanded opportunities, and to grow their digital networks to reach new customers – free of charge. Through the Digital Tool Library, small businesses can access free trainings and webinars on how to start, grow, market, and fund their businesses.
- Veterans Business Outreach Centers (VBOCs)
VBOCs are designed to provide entrepreneurial development services to transitioning service members, veterans, National Guard and Reserve members, and military spouses interested in starting or growing a small business.
Access to capital
SBA remains committed to increasing capital for small businesses, including those in underserved communities. This means ensuring entrepreneurs have access to capital, standard and disaster lending programs, and PPP direct forgiveness as well as assistance in growing their revenues by getting their products online or into global markets and accessing federal contracting opportunities.