SBA Marks 65 Years of Aid to Entrepreneurs

WASHINGTON – The U.S. Small Business Administration marked 65 years of serving small businesses Monday with commemorations here.

Since its founding on July 30, 1953, SBA has connected small businesses with access to funding, mentoring and counseling.

“The SBA has helped make the American dream possible for millions of aspiring entrepreneurs over the years, and today the SBA’s commitment to growing the nation’s small business sector is as strong as it’s ever been,” said SBA Administrator Linda McMahon in a statement. “On our 65th year, we renew our commitment to providing relevant products and services to these vital job creators. As the administration’s policies continue to drive our economy forward and encourage more Americans to return to the workforce, small business owners and entrepreneurs will look to create and expand. SBA will be their partner every step of the way.”

There are more than 30 million small businesses and they create two out of every three net new jobs in the private sector each year, according to the SBA. More than half of all Americans either work for or own a small business.

SBA provides access to capital, mentorship and counseling to entrepreneurs, connections to contracting opportunities, as well as directly issues low-interest loans to people affected by declared disasters.

Copyright 2024 The Business Journal, Youngstown, Ohio.