SBAвЂ™s capital profile extends beyond old-fashioned financing. We also run the worldвЂ™s market that is largest middle of fundsвЂќ through the SBIC program, a public-private partnership that can help qualified investment managers purchase smaller businesses free of charge into the taxpayer. Working with Congress we raised the limit regarding the value of SBICs handled under typical control, and raised the quantity of financing offered to SBICs every year. SBIC program licensees have actually expanded use of capital for small enterprises by 50 percent since 2009, increasing their profile from $16.8 billion to $27.8 billion in 2016. All told, SBICs invested more than $31 billion in tiny businesses throughout the federal government.
The agency also has steered much-needed capital to small businesses in low-income areas, socially impactful companies and early stage startups вЂ“ sectors that often face particular challenges accessing capital with the establishment of Impact and Early Stage SBICs.
Supporting tragedy survivors once they most require assistance. Our Office of Disaster Assistance is spending so much time to automate and streamline our application, approval, and disbursement processes for tragedy help loans. During 2009, less than 30 % of those loan applications had been submitted electronically. Today, a lot more than 90 per cent of tragedy loans are submitted electronically, shaving months from the time it requires for homeowners, renters, and small enterprises to get the help they have to reconstruct. Continue reading “Exit Memo: Business Management. SBA: Smart, Bold, Accessible Administrator Maria Contreras-Sweet”