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Primary tabs
Strategic Objective
Ensure inclusive entrepreneurship
Strategic Objective
Overview
Underserved communities – including women, low-income, minorities, veteran entrepreneurs – often have extreme difficulty in accessing capital, training, advising, and mentoring services and federal contracts. SBA’s unique approach to inclusive entrepreneurship provides products, services and programs that offer a path to business ownership for these populations that also suffer from disproportionately high levels of unemployment. The SBA will continue to work collaboratively with community development partners, credit unions, minority associations and others to tailor programs to meet their needs and ensure that SBA’s programs remain accessible to underserved communities.
Read Less...Progress Update
The Administrator has made inclusiveness a key commitment, and the SBA continues to make progress toward this objective. In FY 2015, the SBA assisted more than 50,000 small businesses in underserved markets through loan and contracting programs. This year, veterans received more than 3,000 loans totaling $1.4 billion. The SBA has made a commitment to supporting veterans returning from the wars in Iraq and Afghanistan and providing them with the resources they need to be successful entrepreneurs, particularly as the unemployment rate for veterans is higher than the national average. This year, the SBA developed Boots to Business: Reboot (B2B|R), an initiative to extend the entrepreneurship track of the Transition Assistance Program to veterans who have already transitioned to civilian life, and trained approximately 850 veterans and spouses in 58 B2B|R courses around the country.
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Strategic Goals
Strategic Goal:
Serving as the voice for small business
Statement:
Serving as the Voice for Small Business
Strategic Objectives
Statement:
Ensure inclusive entrepreneurship by expanding access and opportunity to small businesses and entrepreneurs in communities where market gaps remain
Description:
Underserved communities – including women, low-income, minorities, veteran entrepreneurs – often have extreme difficulty in accessing capital, training, advising, and mentoring services and federal contracts. SBA’s unique approach to inclusive entrepreneurship provides products, services and programs that offer a path to business ownership for these populations that also suffer from disproportionately high levels of unemployment. The SBA will continue to work collaboratively with community development partners, credit unions, minority associations and others to tailor programs to meet their needs and ensure that SBA’s programs remain accessible to underserved communities.
FY 14-15 Priority Goal: Increase Active Lender Participation
Statement:
Expand access to capital by adding 325 new and returning lenders to SBA’s flagship 7(a) program each fiscal year in FY2014-2015.
Description:
Providing access to capital has been one of the SBA’s critical strategies in meeting its objective to drive business formation, job growth and economic expansion particularly in underserved markets since the agency was created in 1953. By providing loan guarantees to reduce lenders’ loss exposure, the SBA provides an important credit lifeline to small businesses, especially startup businesses and businesses owned by women, minorities, veterans and other underserved groups who often cannot easily obtain credit in the conventional market. In the current economic conditions, SBA loan programs become even more crucial for ensuring that small businesses are not only surviving but also leading the way toward economic recovery and growth, as they have done time-and-time again throughout U.S. history.
SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). New and returning lenders are a major component of SBA’s lending portfolio and are essential to growth in the quantity of loans approved and small businesses assisted. Each new or returning lender will expand SBA’s footprint and increase small business access to capital. Attaining a high volume of new and returning lenders from one fiscal year to the next will create a consistent pipeline of SBA loans into the hands of small business.
There are barriers and challenges to the SBA in achieving its priority goals:
- Economic Trends; micro and macro
- Issues within the Finance Industry as a whole
- Shrinking workforce in field offices which provide training
- Recent cases from the OIG reviewing SBA lenders underwriting criteria have triggered a more cautious approach from some lenders with some loan guaranty types
FY 14-15 Priority Goal: Maximize Small Business participation in government contracting
Statement:
Maximize small business participation in federal government contracting to meet the statutory goals and reduce participation by ineligible firms.
Description:
Congress has mandated that small businesses receive 23% of federal government prime contracting dollars, including 5% of prime and subcontracts to Small Disadvantage Businesses; 5% of prime and subcontracts to Women-Owned Small Businesses; 3% of prime and subcontracts to HUBZone Small Businesses; and 3% of prime and subcontracts to Service-Disabled Veteran-Owned Small Businesses
Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority. Federal contracting with small businesses is a win-win. Small businesses get the revenue they need to grow their businesses and create jobs, and the federal government gets the opportunity to work with some of America’s most innovative and nimble small businesses, often times with a direct line to the CEO.
In FY 2012, the federal government made real progress toward the 23 percent goal, with 22.25 percent or $89.9 billion in federal contracting dollars going to small businesses compared to 21.65 percent in FY 2011, with significant impact in key areas:
- For the first time, more agencies than ever before met or surpassed all of their prime contracting goals.
- Also, for the first time, the federal government exceeded the goal for service disabled veterans.
- The federal government had the highest percentage of contracts going to Small Disadvantage Businesses to date.
As a result of a government wide focus on increasing small business contracting opportunities, during President Obama’s first term (FY2009 - FY2012) the federal government awarded $376.2 billion in federal contracting dollars to small businesses. This is a $48.1 billion increase over the four preceding years even as we have seen reduced spending overall.
Also, since President Obama took office, the SBA has supported more than $132.61 billion in Federal government contracting dollars to small disadvantaged businesses. This represents a 36.6 percent increase when compared to the prior Administration. Under the Bush Administration’s first term, $97.10 billion in federal government contracting dollars were awarded to small disadvantaged businesses.
Although we have seen marked success over the last few years, we know more must be done. Many challenges exist for small businesses seeking to enter the federal procurement marketplace.
- The unpredictable and changing budget climate is a challenge for small businesses, and SBA is working hard to create an environment where small businesses can be successful in the federal procurement marketplace.
- The instability and ambiguity caused by Continuing Resolutions make it difficult to agency acquisition staff to plan effectively for small business utilization.
- Entering the federal supply chain can often be a lengthy and arduous process for many small businesses.
SBA’s GCBD unit must implement effective and efficient strategies to monitor the agencies’ progress to goal, support small businesses interested in working with the government and encourage agencies to improve data quality when reporting their contracting activities. SBA will increase its efforts to collaborate with and hold federal agencies accountable to achieving their goals.
Statement:
Lead and collaborate with other agencies to strengthen and streamline the delivery of programs, resources and services for small businesses.
Description:
The SBA is the voice of small business and works to advocate for the interests of small business owners and entrepreneurs across government agencies. In this capacity, the Agency takes a leadership role in ensuring effective delivery of federal small business programs and services, collaborating across a broad array of agencies. The Agency is a leading participant in interagency collaborations that focus on innovation, place-based and sector-based growth, government contracting, veterans and reservists, disaster recovery, access to capital for small business owners and entrepreneurial education. The SBA will continue to foster interagency collaborations that leverage and align Agency activities across the federal government to reach more small businesses more efficiently than ever before.
FY 14-15 Priority Goal: Increase Active Lender Participation
Statement:
Expand access to capital by adding 325 new and returning lenders to SBA’s flagship 7(a) program each fiscal year in FY2014-2015.
Description:
Providing access to capital has been one of the SBA’s critical strategies in meeting its objective to drive business formation, job growth and economic expansion particularly in underserved markets since the agency was created in 1953. By providing loan guarantees to reduce lenders’ loss exposure, the SBA provides an important credit lifeline to small businesses, especially startup businesses and businesses owned by women, minorities, veterans and other underserved groups who often cannot easily obtain credit in the conventional market. In the current economic conditions, SBA loan programs become even more crucial for ensuring that small businesses are not only surviving but also leading the way toward economic recovery and growth, as they have done time-and-time again throughout U.S. history.
SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). New and returning lenders are a major component of SBA’s lending portfolio and are essential to growth in the quantity of loans approved and small businesses assisted. Each new or returning lender will expand SBA’s footprint and increase small business access to capital. Attaining a high volume of new and returning lenders from one fiscal year to the next will create a consistent pipeline of SBA loans into the hands of small business.
There are barriers and challenges to the SBA in achieving its priority goals:
- Economic Trends; micro and macro
- Issues within the Finance Industry as a whole
- Shrinking workforce in field offices which provide training
- Recent cases from the OIG reviewing SBA lenders underwriting criteria have triggered a more cautious approach from some lenders with some loan guaranty types
FY 14-15 Priority Goal: Maximize Small Business participation in government contracting
Statement:
Maximize small business participation in federal government contracting to meet the statutory goals and reduce participation by ineligible firms.
Description:
Congress has mandated that small businesses receive 23% of federal government prime contracting dollars, including 5% of prime and subcontracts to Small Disadvantage Businesses; 5% of prime and subcontracts to Women-Owned Small Businesses; 3% of prime and subcontracts to HUBZone Small Businesses; and 3% of prime and subcontracts to Service-Disabled Veteran-Owned Small Businesses
Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority. Federal contracting with small businesses is a win-win. Small businesses get the revenue they need to grow their businesses and create jobs, and the federal government gets the opportunity to work with some of America’s most innovative and nimble small businesses, often times with a direct line to the CEO.
In FY 2012, the federal government made real progress toward the 23 percent goal, with 22.25 percent or $89.9 billion in federal contracting dollars going to small businesses compared to 21.65 percent in FY 2011, with significant impact in key areas:
- For the first time, more agencies than ever before met or surpassed all of their prime contracting goals.
- Also, for the first time, the federal government exceeded the goal for service disabled veterans.
- The federal government had the highest percentage of contracts going to Small Disadvantage Businesses to date.
As a result of a government wide focus on increasing small business contracting opportunities, during President Obama’s first term (FY2009 - FY2012) the federal government awarded $376.2 billion in federal contracting dollars to small businesses. This is a $48.1 billion increase over the four preceding years even as we have seen reduced spending overall.
Also, since President Obama took office, the SBA has supported more than $132.61 billion in Federal government contracting dollars to small disadvantaged businesses. This represents a 36.6 percent increase when compared to the prior Administration. Under the Bush Administration’s first term, $97.10 billion in federal government contracting dollars were awarded to small disadvantaged businesses.
Although we have seen marked success over the last few years, we know more must be done. Many challenges exist for small businesses seeking to enter the federal procurement marketplace.
- The unpredictable and changing budget climate is a challenge for small businesses, and SBA is working hard to create an environment where small businesses can be successful in the federal procurement marketplace.
- The instability and ambiguity caused by Continuing Resolutions make it difficult to agency acquisition staff to plan effectively for small business utilization.
- Entering the federal supply chain can often be a lengthy and arduous process for many small businesses.
SBA’s GCBD unit must implement effective and efficient strategies to monitor the agencies’ progress to goal, support small businesses interested in working with the government and encourage agencies to improve data quality when reporting their contracting activities. SBA will increase its efforts to collaborate with and hold federal agencies accountable to achieving their goals.
FY 14-15 Priority Goal: Increase the Disaster Loan Application Return Rate
Statement:
Increase the return rate for disaster survivor applications by 10 percent points from 24% to 34% return rate by September 30, 2015.
Description:
The FY13 baseline number for Disaster Loan Application Return Rate was 24%, so the goal for FY14 is to achieve 29% and 34% in FY15. Increasing the application return rate will improve the delivery of the Disaster Loan Program. The primary opportunity being addressed is that a higher application return rate should result in a greater number of disaster survivors that will apply for disaster loan assistance and receive much needed Federal disaster assistance. SBA’s plan to increase the application return rate also ensures that SBA's disaster assistance resources for businesses, non-profit organizations, homeowners, and renters can be deployed quickly, effectively and efficiently in order to preserve jobs and help return small businesses to operation.
SBA’s plan to increase the application return rate will indirectly make the Disaster Loan Program more efficient by: 1) saving costs on mailing application packets to 100% of disaster survivors referred to SBA; and 2) freeing up resources dedicated to preparing and mailing application packets that can be utilized in other critical areas of the application screening process that directly impact processing times.
Statement:
Provide timely, instructive and useful information to the small business community through SBA’s extensive digital and in-person outreach efforts.
Description:
The SBA works to ensure that small business entrepreneurs can effectively access and navigate small business programs across the federal government. In an increasingly tech-driven economy, the SBA has taken significant steps to upgrade and enhance its website to better meet the needs of small businesses and give entrepreneurs more ways to access the Agency’s tools and resources. The SBA co-leads the BusinessUSA initiative with the Department of Commerce to provide small businesses with an easy-to-use, consolidated website and toll-free telephone number for the many government small business resources found in other agencies. The SBA leverages its nationwide network of field offices and resource partners to conduct outreach to hundreds of thousands of small business owners.
Statement:
Foster a small business-friendly environment by encouraging federal agency awareness about the impact of unfair regulatory enforcement and compliance efforts, reducing burdens on small business and improving small business research
Description:
The SBA plays a critical role in the Administration’s ongoing efforts to reduce regulatory barriers to entrepreneurship, innovation, and American competitiveness. As part of the Start-Up America initiative, government leaders met with more than 1,000 entrepreneurs across the country to talk about ways to reduce barriers for small business growth. These conversations continue to guide SBA policy and programmatic decisions. In addition, SBA’s National Ombudsman plays a key role in helping small business owners deal with specific regulatory burdens and challenges that result from federal agency processes. Furthermore, the SBA is focused on and committed to not only compiling internal SBA data to inform programmatic decisions, but also partnering with the key federal agencies to gather the most robust data sets to make informed policy.
Agency Priority Goals
Statement:
Expand access to capital by adding 325 new and returning lenders to SBA’s flagship 7(a) program each fiscal year in FY2014-2015.
Description:
Providing access to capital has been one of the SBA’s critical strategies in meeting its objective to drive business formation, job growth and economic expansion particularly in underserved markets since the agency was created in 1953. By providing loan guarantees to reduce lenders’ loss exposure, the SBA provides an important credit lifeline to small businesses, especially startup businesses and businesses owned by women, minorities, veterans and other underserved groups who often cannot easily obtain credit in the conventional market. In the current economic conditions, SBA loan programs become even more crucial for ensuring that small businesses are not only surviving but also leading the way toward economic recovery and growth, as they have done time-and-time again throughout U.S. history.
SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). New and returning lenders are a major component of SBA’s lending portfolio and are essential to growth in the quantity of loans approved and small businesses assisted. Each new or returning lender will expand SBA’s footprint and increase small business access to capital. Attaining a high volume of new and returning lenders from one fiscal year to the next will create a consistent pipeline of SBA loans into the hands of small business.
There are barriers and challenges to the SBA in achieving its priority goals:
- Economic Trends; micro and macro
- Issues within the Finance Industry as a whole
- Shrinking workforce in field offices which provide training
- Recent cases from the OIG reviewing SBA lenders underwriting criteria have triggered a more cautious approach from some lenders with some loan guaranty types
Statement:
Maximize small business participation in federal government contracting to meet the statutory goals and reduce participation by ineligible firms.
Description:
Congress has mandated that small businesses receive 23% of federal government prime contracting dollars, including 5% of prime and subcontracts to Small Disadvantage Businesses; 5% of prime and subcontracts to Women-Owned Small Businesses; 3% of prime and subcontracts to HUBZone Small Businesses; and 3% of prime and subcontracts to Service-Disabled Veteran-Owned Small Businesses
Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority. Federal contracting with small businesses is a win-win. Small businesses get the revenue they need to grow their businesses and create jobs, and the federal government gets the opportunity to work with some of America’s most innovative and nimble small businesses, often times with a direct line to the CEO.
In FY 2012, the federal government made real progress toward the 23 percent goal, with 22.25 percent or $89.9 billion in federal contracting dollars going to small businesses compared to 21.65 percent in FY 2011, with significant impact in key areas:
- For the first time, more agencies than ever before met or surpassed all of their prime contracting goals.
- Also, for the first time, the federal government exceeded the goal for service disabled veterans.
- The federal government had the highest percentage of contracts going to Small Disadvantage Businesses to date.
As a result of a government wide focus on increasing small business contracting opportunities, during President Obama’s first term (FY2009 - FY2012) the federal government awarded $376.2 billion in federal contracting dollars to small businesses. This is a $48.1 billion increase over the four preceding years even as we have seen reduced spending overall.
Also, since President Obama took office, the SBA has supported more than $132.61 billion in Federal government contracting dollars to small disadvantaged businesses. This represents a 36.6 percent increase when compared to the prior Administration. Under the Bush Administration’s first term, $97.10 billion in federal government contracting dollars were awarded to small disadvantaged businesses.
Although we have seen marked success over the last few years, we know more must be done. Many challenges exist for small businesses seeking to enter the federal procurement marketplace.
- The unpredictable and changing budget climate is a challenge for small businesses, and SBA is working hard to create an environment where small businesses can be successful in the federal procurement marketplace.
- The instability and ambiguity caused by Continuing Resolutions make it difficult to agency acquisition staff to plan effectively for small business utilization.
- Entering the federal supply chain can often be a lengthy and arduous process for many small businesses.
SBA’s GCBD unit must implement effective and efficient strategies to monitor the agencies’ progress to goal, support small businesses interested in working with the government and encourage agencies to improve data quality when reporting their contracting activities. SBA will increase its efforts to collaborate with and hold federal agencies accountable to achieving their goals.
Statement:
Increase the return rate for disaster survivor applications by 10 percent points from 24% to 34% return rate by September 30, 2015.
Description:
The FY13 baseline number for Disaster Loan Application Return Rate was 24%, so the goal for FY14 is to achieve 29% and 34% in FY15. Increasing the application return rate will improve the delivery of the Disaster Loan Program. The primary opportunity being addressed is that a higher application return rate should result in a greater number of disaster survivors that will apply for disaster loan assistance and receive much needed Federal disaster assistance. SBA’s plan to increase the application return rate also ensures that SBA's disaster assistance resources for businesses, non-profit organizations, homeowners, and renters can be deployed quickly, effectively and efficiently in order to preserve jobs and help return small businesses to operation.
SBA’s plan to increase the application return rate will indirectly make the Disaster Loan Program more efficient by: 1) saving costs on mailing application packets to 100% of disaster survivors referred to SBA; and 2) freeing up resources dedicated to preparing and mailing application packets that can be utilized in other critical areas of the application screening process that directly impact processing times.
Agency Priority Goals
FY 14-15 Agency Priority Goal:
Statement:
Expand access to capital by adding 325 new and returning lenders to SBA’s flagship 7(a) program each fiscal year in FY2014-2015.
Description:
Providing access to capital has been one of the SBA’s critical strategies in meeting its objective to drive business formation, job growth and economic expansion particularly in underserved markets since the agency was created in 1953. By providing loan guarantees to reduce lenders’ loss exposure, the SBA provides an important credit lifeline to small businesses, especially startup businesses and businesses owned by women, minorities, veterans and other underserved groups who often cannot easily obtain credit in the conventional market. In the current economic conditions, SBA loan programs become even more crucial for ensuring that small businesses are not only surviving but also leading the way toward economic recovery and growth, as they have done time-and-time again throughout U.S. history.
SBA will increase small business access to capital by increasing the number of new or returning lenders in the fiscal year for the flagship 7(a) program (including the Community Advantage pilot program). New and returning lenders are a major component of SBA’s lending portfolio and are essential to growth in the quantity of loans approved and small businesses assisted. Each new or returning lender will expand SBA’s footprint and increase small business access to capital. Attaining a high volume of new and returning lenders from one fiscal year to the next will create a consistent pipeline of SBA loans into the hands of small business.
There are barriers and challenges to the SBA in achieving its priority goals:
- Economic Trends; micro and macro
- Issues within the Finance Industry as a whole
- Shrinking workforce in field offices which provide training
- Recent cases from the OIG reviewing SBA lenders underwriting criteria have triggered a more cautious approach from some lenders with some loan guaranty types
FY 14-15 Agency Priority Goal:
Maximize Small Business participation in government contracting
Statement:
Maximize small business participation in federal government contracting to meet the statutory goals and reduce participation by ineligible firms.
Description:
Congress has mandated that small businesses receive 23% of federal government prime contracting dollars, including 5% of prime and subcontracts to Small Disadvantage Businesses; 5% of prime and subcontracts to Women-Owned Small Businesses; 3% of prime and subcontracts to HUBZone Small Businesses; and 3% of prime and subcontracts to Service-Disabled Veteran-Owned Small Businesses
Meeting and exceeding the federal government’s small business procurement goals continues to be an Administration priority. Federal contracting with small businesses is a win-win. Small businesses get the revenue they need to grow their businesses and create jobs, and the federal government gets the opportunity to work with some of America’s most innovative and nimble small businesses, often times with a direct line to the CEO.
In FY 2012, the federal government made real progress toward the 23 percent goal, with 22.25 percent or $89.9 billion in federal contracting dollars going to small businesses compared to 21.65 percent in FY 2011, with significant impact in key areas:
- For the first time, more agencies than ever before met or surpassed all of their prime contracting goals.
- Also, for the first time, the federal government exceeded the goal for service disabled veterans.
- The federal government had the highest percentage of contracts going to Small Disadvantage Businesses to date.
As a result of a government wide focus on increasing small business contracting opportunities, during President Obama’s first term (FY2009 - FY2012) the federal government awarded $376.2 billion in federal contracting dollars to small businesses. This is a $48.1 billion increase over the four preceding years even as we have seen reduced spending overall.
Also, since President Obama took office, the SBA has supported more than $132.61 billion in Federal government contracting dollars to small disadvantaged businesses. This represents a 36.6 percent increase when compared to the prior Administration. Under the Bush Administration’s first term, $97.10 billion in federal government contracting dollars were awarded to small disadvantaged businesses.
Although we have seen marked success over the last few years, we know more must be done. Many challenges exist for small businesses seeking to enter the federal procurement marketplace.
- The unpredictable and changing budget climate is a challenge for small businesses, and SBA is working hard to create an environment where small businesses can be successful in the federal procurement marketplace.
- The instability and ambiguity caused by Continuing Resolutions make it difficult to agency acquisition staff to plan effectively for small business utilization.
- Entering the federal supply chain can often be a lengthy and arduous process for many small businesses.
SBA’s GCBD unit must implement effective and efficient strategies to monitor the agencies’ progress to goal, support small businesses interested in working with the government and encourage agencies to improve data quality when reporting their contracting activities. SBA will increase its efforts to collaborate with and hold federal agencies accountable to achieving their goals.
