![]() In addition, the 7(a) program saw an increase in small-dollar loans, evidence of the SBA’s prioritization of startups and businesses hampered by gaps in credit markets. Notably, the SBA’s low-interest 504 loan program grew in volume to $9.2 billion, a record level of lending for the 504 program. We continue to make progress expanding our network of SBA lenders and removing barriers to capital for small businesses – the foundation of a competitive global economy.”ĭespite ongoing, structural challenges that exist for small business owners when seeking capital, the SBA’s efforts in helping them pursue their American dream showed signs of progress. “Our work at the SBA, under the Biden-Harris Administration, addresses entrenched inequities in capital markets and throughout our economy. “While still managing billions in COVID relief, the SBA also delivered record lending in FY22, helping tens of thousands of entrepreneurs across our nation get the needed funding to start, grow, and build resilient businesses,” said SBA Administrator Guzman. ![]() Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced that the Agency reached nearly $43 billion in funding to small businesses, providing more than 62,000 traditional loans through its 7(a), 504, and Microloan lending partners and over 1,200 investments through SBA licensed Small Business Investment Companies (SBICs) for Fiscal Year (FY) 2022. WASHINGTON – Today, Administrator Isabella Casillas Guzman, head of the U.S. Market research and competitive analysisĪgency provided nearly $43 billion through small business capital programs in Fiscal Year 2022, 504 Loan and SBIC programs reached historic funding levels and small dollar and export loans increased as Administrator advanced reforms to close capital access gaps for underserved communities.
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