As a small business owner, I directly work with commercial lenders providing valuation services for SBA 7(a) loan purposes. The 7(a) Loan Program is SBA’s primary program for helping start-up and existing small businesses access capital. I also recently had the opportunity to join SCORE mentors as a certified business mentor. SCORE volunteers help thousands of entrepreneurs start small businesses and achieve new levels of success in their existing businesses.
So not only is it important for me to review my own accomplishments as a business owner in FY16, but to review and share the U.S. Small Business Administration record breaking year. The SBA continues to leap forward in their work to help America’s small business owners, and those who want to become small business owners, start and grow their companies. Here are just a few examples of the SBA's most recent accomplishments.
See the full list and original article here - https://www.sba.gov/about-sba/sba-performance/sba-accomplishments-fy-2016
In the past year, SBA approved 67,914 SBA-guaranteed loans totaling $27.8 billion. This represents a 3 percent dollar increase over the previous year, a continued record pace.
SBA made strides ensuring business capital reaches those who need it most. This includes gains in SBA-guaranteed lending for business owners who are women, veterans, Hispanics, African-Americans, Native-Americans, Asian Americans, and more.
In SBA’s flagship 7(a) loan program, SBA increased lending to Hispanic-American small business owners by 65 percent, by 45 percent to African-American small business owners, 44 percent to Asian-American small business owners, 33.8 percent to women-owned small businesses and 12.9 percent to veteran-owned small businesses from fiscal year 2011 to fiscal year 2016.
In fiscal year 2016 SBA microloan intermediaries made close to 4,000 microloans for a total of $54 million. These loans have helped to create and retain 15,645 jobs. 36% of those loans went to African-American owned businesses, 15% to Hispanic-owned businesses, and 46% to women-owned businesses.
At the same time, SBA’s Community Advantage program grew more than 100 percent in the past two years, for a total of $340 million in loans.
RECORD INVESTING AND INNOVATION
SBA’s Office of Innovation injected historic levels of capital into small businesses, growing the Small Business Investment Company (SBIC) portfolio by 10 percent in one year to an all-time high of $26 billion dollars.
SBA’s Growth Accelerator Program is in its third year and has already supported more than 200 incubators and accelerators that are helping entrepreneurs from underserved communities take ideas from the lab to a borderless marketplace.
SBIR/STTR, sometimes called America’s seed fund, represents the world’s largest source of early-stage public finance.
Since it was founded in 1982, SBIR has delivered $40 billion in capital to small innovators and supported the work of 400,000 scientists and engineers, who’ve filed 50,000 patents. That’s an average of 7 patents a day.
SBA’s Office of Entrepreneurial Development shepherded these victories through the agency’s network of 13,000 business advisors and mentors.
SBA-funded counseling centers served more than 1.4 million businesses last fiscal year, providing high-quality business advice and resources to start, grow and thrive.
INNOVATION AND TECHNOLOGY
SBA launched LINC and SBA One to simplify the lending space and make it easier for lenders and prospective borrowers to make connections and do business together.
In partnership with 19 of the world’s most iconic technology companies, SBA created the Small Business Technology Coalition to provide an unprecedented collection of educational and training resources to help entrepreneurs connect to customers, scale and conduct business safely anywhere in the world.
SBA is working with nearly 100 cities and communities who have taken the Startup in a Day pledge to make it easier for every entrepreneur to start a business by building streamlined, business-friendly, online tools.
SBA Administrator Maria Contreras-Sweet has traveled across the globe to spread the word about America’s Small Business Development Center (SBDC) network model and grow the global SBDC Network.
In particular, SBA has made great progress expanding their Small Business Network of the Americas (SBNA). There are close to 120 SBDCs operating within the SBNA region serving approximately 30,000 clients annually.
SBA now has MOUs in Colombia, Peru, Chile, Mexico, Brazil, Uruguay and Argentina. Agreements with Paraguay and Nicaragua are in process.
As you can see FY16 was a big year for the SBA and the Small Business community. Both the economy and stock market have shown signs of strength during the final years of 2016, which will help increase business owner optimism. I would expect a very active year for 2017 as well!
Please reach out to Brandon Hall at firstname.lastname@example.org or 763-898-8653 if you have any further questions regarding business valuations for SBA purposes.
"Strive not to be a success, but rather to be of value" - Albert Einstein