Small Business Administration Working to Identify and Address Challenges Faced by Louisville Small Businesses

LOUISVILLE, Ky. ÔÇö The Small Business Administration (SBA) is actively engaged in helping small businesses in Louisville recognize and overcome their challenges. Administrator Isabella Casillas Guzman recently visited Kentucky to meet with a roundtable of local small businesses, gain insights into the specific issues they face, and explore ways in which the SBA can offer its assistance.

One major challenge for these small businesses is the lack of access to capital, which has historically left them underserved and disenfranchised. Guzman stressed the importance of investing in these businesses and building strong networks. She expressed admiration for the networks being developed through organizations like amped, which focus on local communities and foster success within them.

Kentucky congressman Morgan McGarvey accompanied Guzman on a citywide tour, showcasing different small businesses ranging from coffee shops to ice cream parlors, and even bourbon distilleries. This tour allowed Guzman to witness firsthand the variety and potential of the small business landscape in Louisville.

As a testament to the SBA’s support, Flavorman, a Kentucky-based custom beverage development company, was recently designated as an SBA Legacy Business. Flavorman’s CEO, David Dafoe, highlighted the company’s utilization of multiple SBA programs throughout its 17-year journey. These programs have provided financing, training, and financial confidence, enabling Flavorman’s impressive growth. Dafoe expressed pride in being recognized as an SBA Legacy Business during the agency’s 70th anniversary celebration.

The SBA takes pride in its substantial support, having provided billions to facilitate a more equitable and sustainable economy bolstered by the strength of American small businesses. In line with this commitment, the SBA Legacy Business initiative aims to recognize and honor companies like Flavorman that have successfully benefited from SBA programs, positioning them as beacons of inspiration for aspiring entrepreneurs.

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