SBA highlights progress in supporting native small businesses during heritage month

Economics
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Isabel Casillas Guzman, Administrator | U.S. Small Business Administration

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Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) marked the beginning of Native American Heritage Month by emphasizing the significant progress made in supporting Native small business owners nationwide.

"Native American small businesses are a vital component of the economic fabric of our nation, contributing to job creation, innovation and community development across the U.S.,” stated SBA Administrator Guzman. “Under the Biden-Harris Administration, the SBA has made significant strides in its work to support and uplift these businesses, delivering the resources and opportunities needed to succeed. Every month we honor and respect Tribal Nations, and during Native American Heritage Month in particular, we acknowledge the many contributions Indigenous people have made to this country. We are proud to honor their achievements and support their continued success.”

The SBA's engagement with Native communities under the Biden-Harris Administration has led to advancements in federal contracting, access to capital, and policy development. There are now 13 Native banks or Community Development Financial Institutions (CDFIs) involved with SBA programs—a 30% increase since January 2021. The agency nearly doubled its lending dollar amount for Native entrepreneurs from FY20 to FY24, totaling $267 million for both 7(a) and 504 lending in the last fiscal year. Moreover, Native American contracting has seen unprecedented growth with a 49% increase from FY20 to FY23.

In addition, recognizing Tribal consultation's importance, the SBA updated its Tribal Consultation Policy after holding consultations that influenced final policy outcomes. The administration also introduced two new programs: The Small Business Tribal College Achievement (TCSBA) grant program for entrepreneurship education and training enhancement, and the Native Trade Export Program (NATEP), which helps expand international market access for Native businesses.

Since assuming office, Administrator Guzman prioritized visiting various Native communities across different states surpassing previous records set by former administrators. These visits included engagements with tribes such as Winnebago Tribe, Navajo Nation among others while participating thrice at White House Tribal Nation Summits reflecting on Biden-Harris' commitment towards tribal consultations.

The Office of Native American Affairs within SBA focuses on promoting entrepreneurial ventures among native groups through outreach activities like tribal consultations while ensuring full accessibility towards business expansion tools provided by them; offering guidance about suitability regarding participation into specific programs like 8(a).

The U.S Small Business Administration aims at empowering entrepreneurs through extensive field offices network backed via public-private partnerships thereby fulfilling its mission facilitating growth or recovery post-disasters amongst other services available online at www.sba.gov.

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