Small Business Administration

Small Business Administration
Seal of the SBA
Logo of the SBA
Agency overview
FormedJuly 30, 1953; 71 years ago (1953-07-30)
Preceding agency
JurisdictionFederal government of the United States
Headquarters409 Third Street, SW, Washington, D.C., U.S.
Employees3,293 (2015)[1]
Annual budget$710 million USD (2015)[2]
Agency executive
Websitesba.gov

The U.S. Small Business Administration (SBA) is a United States government agency that gives support to entrepreneurs and small businesses.

The Small Business Administration wants "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters".[3]

The Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) maximum amounts have changed numerous times since the inception of the popular COVID loan program in March 2020.[4] From the original $2 million, it was quickly reduced to $150,000 when millions of business owners were applying in droves. In 2020 it was raised to $500,000 and in September 2021, it was restored back to the original $2 million maximum for those small businesses that qualify for this size EIDL loan.[5]

References

  1. ↑ "Congressional Budget Justification/Annual Performance Report | the U.S. Small Business Administration | SBA.gov". Archived from the original on June 1, 2015. Retrieved April 25, 2015.
  2. ↑ - "Small Business Administration Fiscal Year 2015 Congressional Budget Justification and Fiscal Year 2013 Annual Performance Report Fiscal Year 2015 Congressional Budget Justification and Fiscal Year 2013 Annual Performance Report". Archived from the original on September 10, 2015. Retrieved April 25, 2015. {{cite web}}: Check |url= value (help)
  3. ↑ "SBA Blog Post by Deputy Administrator Marie Johns". Archived from the original on July 17, 2011. Retrieved June 16, 2011.
  4. ↑ "SBA EIDL Loans: Last Chance for Increase or Reconsideration". www.yahoo.com. Archived from the original on 2022-05-03. Retrieved 2022-05-03.
  5. ↑ "SBA EIDL $2 Million Loan Increase Requests: Path to Approval". www.yahoo.com. Archived from the original on 2022-05-03. Retrieved 2022-05-03.