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SBA celebrates 65th anniversary, reflects on growth of Wisconsin businesses

Monday, July 30, 2018   (0 Comments)
Posted by: Clara Janzen, Milwaukee Business Journal

Today marked the 65th anniversary of the U.S. Small Business Administration. The SBA has had impacts on businesses nationwide, including right here in Wisconsin, such as Culver's. SBA's support from the early stages helps businesses like Culver's become a household name.

Last year, the SBA distributed more than $650 million in loans to more than 1,500 Wisconsin businesses, including nearly 600 startups. In addition, Wisconsin owners of small businesses classified as disadvantaged were recipients of more than $70 million in federal contracts. Through this the SBA helped small businesses survive longer, hire more staff and grow their revenue, an SBA official said.

"The SBA has helped make the American Dream possible for millions of aspiring entrepreneurs over the years, and today the SBA’s commitment to growing the nation’s small business sector is as strong as it’s ever been,” said SBA Administrator Linda McMahon. "On our 65th year, we renew our commitment to providing relevant products and services to these vital job creators. As the Administration’s policies continue to drive our economy forward and encourage more Americans to return to the workforce, small business owners and entrepreneurs will look to create and expand.”
 
Since its founding in 1953, the SBA has connected small businesses with access to funding, mentoring, counseling and, should a disaster hit, support to recover and return to business. The agency delivers services through an extensive network of SBA field offices, such as the one in Milwaukee, along with partnerships with public and private organizations. 

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