Skip to content
BSL
  • Business News
  • Business Plan
  • Business Marketing
  • Small Business
  • Finance
Biden Administration Begins Initiative to Expand Access to Capital for Small Businesses

Biden Administration Begins Initiative to Expand Access to Capital for Small Businesses

Posted on July 21, 2024 By
Small Business

The Biden administration is looking to strengthen the small business sector by expanding access to capital, investments, technical assistance and services required to support the companies’ growth initiatives.

As part of the initiative, the administration has proposed rules to diversify the network of private funds and managers that provide long-term debt or equity investments to small businesses and extend additional licenses to nonbank lenders and community development financial institutions, the White House said Tuesday .

The Small Business Administration is also proposing to update regulations governing certain loan programs to ease processing burdens for small business borrowers.

In December 2022, SBA partnered with the Department of Defense to launch the Small Business Investment Company Critical Technologies Initiative to drive investments in critical technologies that are key to national security.

The Department of the Treasury has also implemented the State Small Business Credit Initiative to provide a total of $10 billion to state, local and tribal governments to expand access to capital for small businesses.

Data from the Census Bureau revealed that more than 10 million small businesses were established from 2021 to 2022, the highest recorded number for a two-year span.

Tags: small business grants california small businesses

Post navigation

❮ Previous Post: Layoffs, funding delays reported at Solera Auto Finance
Next Post: The Drums | Activision Blizzard’s Head Of Business Marketing’s Top 5 Predictions For 2023 ❯

Recent Posts

  • Tips for Building a Personal Connection with Customers
  • How Technology Influences Consumer Expectations
  • Understanding the Law of Agency in Business
  • How to Build an E-commerce Community Around Your Brand
  • How to Make Your Home Smart with Gadgets

Tags

about accelerate alley automotive breaking business business news article business news stocks business plan software control cruise curiosity discovery edition estate fresh gears headlines ignite informed insights intellect jewellery knowledge latest learning market navigate navigating newest online passion revolution revving shift steering stories technology toward travel trends turbocharge updates wheels world business news

About Us

  • Contact Us
  • Disclosure Policy
  • Sitemap

Partner Links BackLink

Seedbacklink

Theme: Oceanly by ScriptsTown

WhatsApp us