SBA Seeks Big Increase in Field Offices Funding

The Small Business Administration (SBA) field offices need more funding to serve small businesses across the US better. SBA field offices have offered counsel, consultations, and funding to small businesses since the agency’s launch in 1953.  The demands on its limited resources have been stretched increasingly thin, particularly in recent years.

The fact that the SBA is now so much more widely known and put to good use is great news since it’s better able to fulfill its mission of supporting the small businesses that are the lifeblood of the American economy. The SBA has taken on a critical role as American small businesses wrangle with economic uncertainty. Now, it’s in the perfect position to continue the support that American small businesses rely on for their success and growth.

What Is the Current Funding Proposed for SBA Field Offices?

SBA field offices awarded nearly $3 million in funding to women-owned businesses last year alone. It’s great news that the Small Business Administration offers loans and funding for your small business when you need it the most, but that funding doesn’t go far enough. President Biden seeks an increase in funding from $290 this year to $318 million in 2023.

An increase in funding is needed to address the economic shortfall and ongoing financial losses. The SBA is not the only resource you can count on as you work toward growing your small business, but it is one of the best places to start as you seek the training, resources, and assistance you need.

What Role Do SBA Field Offices Play in Small Business Success?

SBA field offices offer local support and services to small businesses where and when you need it the most, no matter where in the US you’re located. You can see the success stories from the SBA district offices and regional offices, as each core team offers the level of support and training that’s most essential for the current local demands.

You’ve already seen how your small business relies on your local community for its growth and success. That’s why it’s essential that the SBA field offices offer accessibility at the local level to support small businesses where they need it the most. They can offer the support and training directly to small businesses in communities that need the networking and resources most.

Why Is Increased Funding So Important for SBA Field Offices?

The SBA field offices are still struggling to cope with the increasing demands on their funding and services, which are still side effects of the pandemic conditions from the last few years. Small businesses like yours need access to capital opportunities. You also need entrepreneurial support services that will help you cope with the changing demands of your company.

SBA Administrator Isabella Casillas Guzman highlights the ways that the SBA is helping small businesses grow through innovation, networking, training, and government contracts. The SBA field offices have long been at the front lines of helping small business owners achieve their entrepreneurial dreams. Those field teams are now fulfilling an even more critical role as the demands for resources and support services become even greater.

How Can Rafael Marrero Help You Take Advantage of Increases for SBA Field Offices?

Rafael Marrero & Company offers consulting and support that will help you take advantage of the loans and funding awarded by SBA field offices. We help your company understand how to access the funding, training, and other resources from your local teams. That means you’re perfectly positioned to develop your skill sets through training and development, so you can grow and succeed now and in the future.

Contact Rafael Marrero & Company to schedule your consultation, so you’ll have the best approach when you seek access to capital for your small business. We’ll work with you to support your needs as you grow and thrive in the changing economy, but we’ll also help you tap into the resources in your local community. Call us today to find out more.