U.S. SMALL BUSINESS ADMINISTRATION

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The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA h... as grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam. Overview & History Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. The SBA was officially established in 1953, but its philosophy and mission began to take shape years earlier in a number of predecessor agencies, largely as a response to the pressures of the Great Depression and World War II. The Reconstruction Finance Corporation (RFC), created by President Herbert Hoover in 1932 to alleviate the financial crisis of the Great Depression, was SBA's grandparent. The RFC was basically a federal lending program for all businesses hurt by the Depression, large and small. It was adopted as the personal project of Hoover's successor, President Franklin D. Roosevelt, and was staffed by some of Roosevelt's most capable and dedicated workers. Concern for small business intensified during World War II, when large industries beefed up production to accommodate wartime defense contracts and smaller businesses were left unable to compete. To help small business participate in war production and give them financial viability, Congress created the Smaller War Plants Corporation (SWPC) in 1942. The SWPC provided direct loans to private entrepreneurs, encouraged large financial institutions to make credit available to small enterprises, and advocated small business interests to federal procurement agencies and big businesses. The SWPC was dissolved after the war, and its lending and contract powers were handed over to the RFC. At this time, the Office of Small Business (OSB) in the Department of Commerce also assumed some responsibilities that would later become characteristic duties of the SBA. Its services were primarily educational. Believing that a lack of information and expertise was the main cause of small business failure, the OSB produced brochures and conducted management counseling for individual entrepreneurs. Congress created another wartime organization to handle small business concerns during the Korean War, this time called the Small Defense Plants Administration (SDPA). Its functions were similar to those of the SWPC, except that ultimate lending authority was retained by the RFC. The SDPA certified small businesses to the RFC when it had determined the businesses to be competent to perform the work of government contracts. By 1952, a move was on to abolish the RFC. To continue the important functions of the earlier agencies, President Dwight Eisenhower proposed creation of a new small business agency -- the Small Business Administration (SBA). In the Small Business Act of July 30, 1953, Congress created the Small Business Administration, whose function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulated that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. By 1954, SBA already was making direct business loans and guaranteeing bank loans to small businesses, as well as making loans to victims of natural disasters, working to get government procurement contracts for small businesses and helping business owners with management and technical assistance and business training. The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately owned and operated venture capital investment firms. They specialized in providing long-term debt and equity investments to high-risk small businesses. Its creation was the result of a Federal Reserve study that discovered, in the simplest terms, that small businesses could not get the credit they needed to keep pace with technological advancement. In 1964, SBA began to attack poverty through the Equal Opportunity Loan (EOL) Program. The EOL Program relaxed the credit and collateral requirements for applicants living below the poverty level in an effort to encourage new businesses that had been unable to attract financial backing, but were nevertheless sound commercial initiatives. SBA has grown in terms of total assistance provided and its array of programs tailored to encourage small enterprises in all areas. SBA's programs now include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. The SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade.

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U.S. SMALL BUSINESS ADMINISTRATION

Social Links:

Industry:
Business Development Consulting Small And Medium Businesses

Founded:
1953-01-01

Address:
Washington, District Of Columbia, United States

Country:
United States

Website Url:
http://www.sba.gov

Total Employee:
1001+

Status:
Active

Contact:
800-827-5722

Email Addresses:
[email protected]

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Current Advisors List

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Ann Lewis Senior Advisor for Technology Delivery @ U.S. Small Business Administration
Advisor
2021-02-01

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Pawan J. Mehra Brain Trust Member @ U.S. Small Business Administration
Board_member
2011-01-01

brittany-sickler_image

Brittany Sickler Senior Innovation Policy Advisor, Office of Innovation and Technology @ U.S. Small Business Administration
Advisor
2018-10-01

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Matthew Weinberg Special Advisor @ U.S. Small Business Administration
Advisor

louis-foreman_image

Louis Foreman Board Member @ U.S. Small Business Administration
Board_member
2013-01-01

Current Employees Featured

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Ana M. Ma
Ana M. Ma Chief of Staff @ U.S. Small Business Administration
Chief of Staff

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Karen G. Mills
Karen G. Mills Administrator @ U.S. Small Business Administration
Administrator

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Maria Contreras-Sweet
Maria Contreras-Sweet Administrator @ U.S. Small Business Administration
Administrator

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Marie C. Johns
Marie C. Johns Deputy Administrator @ U.S. Small Business Administration
Deputy Administrator

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Seth Goodall
Seth Goodall Regional Administrator @ U.S. Small Business Administration
Regional Administrator

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Jovita Carranza
Jovita Carranza Administrator @ U.S. Small Business Administration
Administrator

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Kristin D. Koepenick
Kristin D. Koepenick Loan Officer @ U.S. Small Business Administration
Loan Officer

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Isabella Casillas Guzman
Isabella Casillas Guzman Administrator @ U.S. Small Business Administration
Administrator

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Pellson Lau
Pellson Lau Export Finance Manager, Office of International Trade @ U.S. Small Business Administration
Export Finance Manager, Office of International Trade
2011-06-01

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Nadine Boone
Nadine Boone Assistant District Director for Business Development/Lead Economic Development Specialist @ U.S. Small Business Administration
Assistant District Director for Business Development/Lead Economic Development Specialist
2016-08-01

Founder


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Dwight D. Eisenhower

Investments List

Date Company Article Money raised
2022-08-25 Maryland Department of Commerce U.S. Small Business Administration investment in Grant - Maryland Department of Commerce 930.16 K USD
2022-08-25 South Dakota State University U.S. Small Business Administration investment in Grant - South Dakota State University 999.93 K USD
2022-08-23 Forge Institute U.S. Small Business Administration investment in Grant - Forge Institute 999.65 K USD
2021-12-13 ONABEN U.S. Small Business Administration investment in Grant - ONABEN 1.1 M USD
2021-12-13 Council for Native Hawaiian Advancement U.S. Small Business Administration investment in Grant - Council for Native Hawaiian Advancement 1.1 M USD
2021-12-13 Two Rivers Community Development Corporation U.S. Small Business Administration investment in Grant - Two Rivers Community Development Corporation 1.1 M USD
2021-12-13 The National Center For American Indian Enterprise Development U.S. Small Business Administration investment in Grant - The National Center For American Indian Enterprise Development 1.1 M USD
2021-12-13 REI Oklahoma U.S. Small Business Administration investment in Grant - REI Oklahoma 1.1 M USD
2021-11-08 Startup Junkie U.S. Small Business Administration investment in Grant - Startup Junkie N/A
2021-11-08 Acendian U.S. Small Business Administration investment in Grant - Acendian N/A

Newest Events participated

us-saudi-sme-forum-accelerating-growth-and-international-partnerships_event_image Participated in U.S.-Saudi SME Forum: Accelerating Growth and International Partnerships on 2018-10-01 as sponsor

mergelane-demo-day-2017_event_image Participated in MergeLane Demo Day 2017 on 2017-05-04 as sponsor

bridging-the-gender-gap-entrepreneurship-women-and-investing_event_image Participated in Bridging the Gender Gap: Entrepreneurship, Women, and Investing on 2016-04-19 as organizer

innovateher-summit-2016_event_image Participated in InnovateHER Summit 2016 on 2016-03-17 as organizer

demo-night_event_image Participated in Demo Night on 2015-04-29 as sponsor

Official Site Inspections

http://www.sba.gov Semrush global rank: 30.1 K Semrush visits lastest month: 4.56 M

  • Host name: ec2-35-153-10-75.compute-1.amazonaws.com
  • IP address: 35.153.10.75
  • Location: Ashburn United States
  • Latitude: 39.0481
  • Longitude: -77.4728
  • Metro Code: 511
  • Timezone: America/New_York
  • Postal: 20149

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