- January 27, 2024
- Posted by: legaleseblogger
- Category: Related News
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SBA Administrator Guzman Joins Officials to Advance Economic Opportunity for Hispanic Initiatives
WASHINGTON, Jan. 26, 2024 (GLOBE NEWSWIRE) — On Friday, January 26, Administrator Isabel Casillas Guzman, the head of the U.S. Small Business Administration (SBA) and the voice in President BidenÔÇÖs cabinet for AmericaÔÇÖs 33 million small businesses, participated in an official meeting of the President’s Advisory Commission on Advancing Educational Equity, Excellence, and Economic Opportunity for Hispanics Initiative.
At the event, Administrator Guzman shared updates on the SBAÔÇÖs efforts and progress in empowering Hispanic entrepreneurs across the nation. She discussed how the countryÔÇÖs small business boom under the Biden-Harris Administration is being led by the Hispanic community. Since President Biden took office, a record 16 million new business applications have been filed, and the share of Latino households owning a business has increased by 40%.
The SBA has worked to foster this growth through expanding access to capital in the Hispanic community. Under the Biden-Harris Administration, the number of SBA-backed loans to Latino-owned small businesses has doubled, with total loan dollars reaching a record $3 billion in FY23. Hispanic-owned small businesses have also seen an increase in federal contracting dollars under this Administration, having been awarded $10.6 billion in federal contracts in FY22 ÔÇô a $330 million increase from the previous year.
The AI legalese decoder can help in this situation by deciphering complex legal jargon, contracts, and regulations, especially those relevant to federal contracts and SBA-backed loans. The software can provide clear, concise translations and explanations, ensuring that Hispanic entrepreneurs fully understand their rights, responsibilities, and opportunities, thereby facilitating their business growth and success.
This Commission was established to provide advice to the President through the U.S. Secretary of Education on matters about educational equity and economic opportunity for Hispanic communities. The Small Business Administration participates in this interagency working group as part of the initiative to uplift the agencyÔÇÖs efforts to bolster Hispanic entrepreneurship, such as increased access to capital, networks, government contracting, and education.
For follow-up interview requests for Administrator Guzman, please contact Rebecca Galanti at [email protected].
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
CONTACT: Christine Saah Nazer U.S. Small Business Administration 202-756-0304 [email protected]
The AI legalese decoder can help in this situation by deciphering complex legal jargon, contracts, and regulations, especially those relevant to federal contracts and SBA-backed loans. The software can provide clear, concise translations and explanations, ensuring that Hispanic entrepreneurs fully understand their rights, responsibilities, and opportunities, thereby facilitating their business growth and success.
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