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Biden Administration PPP Reform Fact Sheets
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Biden Cabinet Member Joins Rep. Williams at Fort Hood
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Biden Cabinet Member Travels to New Orleans for Essence Festival of Culture Business Summit
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Biden-Harris Administration Expands SBA Pilot Program Targeting Access to Capital for Underserved Entrepreneurs
… number of lenders will be allowed to access the SBA’s 7(a) government- guaranteed loan program at lending levels up … the maximum unsecured loan size from $25,000 to $50,000, removing barriers that disproportionally impact … intermediaries focused on economic development, access to 7(a) loan guarantees previously for loans of only $250,000 or … -
Biden-Harris Administration to Increase Loan Eligibility for Colorado Wildfires and Straight-Line Winds Survivors
… and straight‑line winds that occurred Dec. 30, 2021 - Jan. 7, 2022. “Boulder County property owners were hit extremely … hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed … -
Biden-Harris Administration Announces Groundbreaking Partnerships to Connect Small and Disadvantaged Businesses to Infrastructure Programs
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Biden-Harris Administration Announces Groundbreaking Joint Initiative to Drive Investment to Entrepreneurs Scaling Critical and Emerging Technologies
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Biden-Harris Administration to Begin Accepting Applications on January 9 for SBA Veteran Small Business Certification Program
… Center for Verification and Evaluation (CVE) as of January 1, 2023. The SBA is implementing several improvements to … Eligible new applicants certified by the SBA after January 1, 2023, will receive the standard three-year certification … Center for Verification and Evaluation (CVE) as of January 1, 2023, are automatically granted certification by SBA for … -
Biden-Harris Administration Announces Cross-Country Latino Prosperity Tour
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Biden-Harris Administration to Expand Support for Veteran Small Business Owners
… employing over five million people and generating over $1.3 trillion in annual revenue. “Our servicemembers have … VBOC program from 22 to 28 locations, fully servicing all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin … -
Biden-Harris Administration Announces New Development and Improvements on Loan Program Modernization to Expand Access to Capital for Small Businesses
… has paved the way for historic economic progress – over 12.7 million jobs created and a small business boom of 10.5 million new business applications in 2021 and 2022. At … SBA loans in-house through new technology starting August 1, 2023, which will ensure more lenders can focus on their … -
Biden-Harris Administration to Launch New Initiative to Increase Federal Contracting with Small Disadvantaged Businesses
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Biden-Harris Administration Introduces New Entrepreneurship Training Course for Military Spouses
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Biden-Harris Administration to Establish Reforms to Transform Public-Private Investment Program
… called “Accrual SBICs.” Accrual SBICs will be eligible for 1.25x tiers of leverage. The SBA will not participate in the … (AUM). Last year, SBICs invested $8 billion in more than 1,500 companies, which created and sustained over 103,000 … -
Biden-Harris Administration Sets Record-Breaking $163 Billion in Federal Procurement Opportunities to Small Businesses
… billion investment in the small business economy – an $8.7 billion increase from the previous fiscal year. Ten federal … 3% goal, reaching 4.6%. This achievement translates to $28.1 billion in procurement, reflecting a $3 billion spending … 26.5% Small Disadvantaged Business 5% $46.5 9.7% $51.6 10.3% $59.0 10.5% $62.4 11.0% $69.9 11.4% Service-Disabled … -
Biden-Harris Administration Launches Small Business Loan Program Improvements to Expand Access to Capital Starting today, August 1
… business access to capital by modernizing SBA’s signature 7(a) and 504 Loan Programs. Today’s loan program updates … 1, bringing many of the new policies into practice: SOP 50 10 7: Lender and Development Company Loan Programs … -
Biden-Harris Administration Announces Record $3 Billion in Lending to Latino-Owned Small Businesses
… backed by the federal government. The SBA backed more than 7,700 SBA loans to Latino-owned small businesses in Fiscal … 2020. Total loan dollars ($3.0 billion) are up nearly $1.4 billion since the start of the Biden-Harris … $3,006 Share (% of loans) 8.2% 8.4% 9.0% 7.8% 8.4% 10.0% 12.2% Under the Biden-Harris Administration, the … -
Biden-Harris Administration Expands Access to Capital for Underserved Small Businesses Through Mission-Based Lenders
… Small Business Lending Company (CA-SBLC) licenses in the 7(a) Loan Program ensures that mission lenders, like CDFIs, … to capital by providing mission-oriented lenders access to 7(a) loans. The Pilot Program will sunset on October 31, … -
Biden-Harris Administration Announces Significant Increase in Lending to Black-Owned Small Businesses
… under the Biden-Harris Administration, with nearly $1.5 billion in lending. “Underinvestment in Black … in Fiscal Year 2023 through the agency’s signature 7(a) and 504 loan programs, well over double the number in … of the SBA’s lending portfolio rose from 3.5 percent to 7.6 percent. SBA 7(a) & 504 Loans to Black-owned businesses …