I want to take a close look at the SBA to see what works, what doesn't, what is duplicative, and what isn't even being utilized. We'll focus on what they do well and strengthen those areas.
One of the most important things we hear is the S.B.A. needs to be ubiquitous. We do all these things, but people still don't know.
I saw the S.B.A. with just enormous potential, and that's what I told the president - this is really a jewel.
After four years as Administrator of the SBA, I have let President Obama know that I will not be staying for a second term. I will stay on until my successor is confirmed to ensure a smooth and seamless transition.
According to the Small Business Administration, more than 70 percent of all family businesses do not survive through the second generation, and 8 percent do not make it to a third.
I think we've learned that the S.B.A. plays a critical role in providing access and opportunity when the market is not providing that access. We help banks get that money out into the hands of important and viable businesses, particularly those owned by minorities, women, immigrants and veterans.
Government in the U.S. today is a senior partner in every business in the country
Oddly enough, government policy helped get the fast food outlets into the city. Very well-intentioned small business administration loans to encourage minority business ownership. The easiest business to get into is opening a fast-food franchise in the inner city.
In one month, the Small Business Administration does $1 billion of loans and guarantees for businesses; many of those are women-owned businesses.
The SBA should be redirected to focus on its core missions of capital access, contracting, and counseling, while reducing duplication, overlap, and wasteful spending. Doing so will greatly improve its ability to better advocate for small businesses.
Closing the gap for women entrepreneurs should be a priority for the federal government - and yet the Small Business Administration has failed in their promise to women business owners.
I worry about whether SBA programs are still doing what they are meant to do - support lenders who fund good business startups and good expansion plans.
The VA does a lot of good things, but determining if a firm is a small business is not one of them.
One of the most important tools we have at the Small Business Administration (SBA) to reach high growth entrepreneurs is the Small Business Investment Company (SBIC) program.
When I was asked if I supported merging SBA into Commerce, I really wasn't focused on SBA or Commerce; I was focused on the concept of merging agencies, or reducing duplicative programs, so that we could reduce those costs. I am a firm believer that SBA needs to be a stand-alone agency.
The only agency of the federal government with a more demoralized workforce than Homeland Security is the Small Business Administration, a notorious turkey farm that should have been abolished years ago.
I have no preconceived notions of what SBA programs work or not.
The S.B.A. does not lend directly to businesses, but instead backs loans to encourage banks to invest in small businesses as part of a nearly $90 billion portfolio.
The government's Small Business Administration reports that small businesses represent 99% of all employers in the U.S. and are responsible for generating well over half of new jobs created.
The Small Business Administration was fundamental in helping our company. There's great initiative from the government if you know the right places to look.
The 2009 stimulus law got the ball rolling, allowing the agency to reduce and eliminate fees and raise loan guarantees to 90 percent of the total. I knew that we had the opportunity to use S.B.A. products to fill that gap in a rapid manner, as we ended up doing in the Recovery Act.
As someone who has owned a small business in the past, I understand how difficult it can be to get a loan.
We want to create more jobs. We want to qualify more lenders and expand lending markets. But also, I want a very different SBA - it's not your father's SBA. I want to modernize it and reposition it so when people think about jobs, they think about how the Small Business Administration would really be helpful.
More entrepreneurs are looking to come back to start businesses, and that is where SBA is perfectly positioned to be helping more people to realize their dreams.
My undergraduate degree was in art history! Raising money for Chipotle was really my MBA. The money for my first restaurant came from my dad, the second from mostly cash flow. The third was an SBA loan. After my dad invested $1.5 million to open a few more, he suggested I raise the money myself for the experience.
