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  • Writer's pictureJessica Lauver

Celebrating 70 Years of the Small Business Administration: A Beacon for Entrepreneurs

As July draws to a close, we also commemorate a significant milestone in the realm of small businesses. This month marks the 70th anniversary of the U.S. Small Business Administration (SBA), an institution that has unwaveringly backed millions of American small businesses since its establishment.

Founded on July 30, 1953, the SBA's mission has consistently been to support, counsel, assist, and safeguard the interests of small business entities, thereby preserving free enterprise and maintaining the vigor of our national economy. Through the years, the SBA has fulfilled this mission by offering a spectrum of services ranging from loan programs to counseling sessions, and from export assistance to disaster aid.

The SBA's journey across these seven decades stands as a testament to the resilience and adaptability that epitomize small businesses. Reflecting on its legacy, we cannot help but marvel at the profound impact it has had on entrepreneurs nationwide.

Among the SBA's most noteworthy contributions is its provision of small business loans. Indeed, less than 70 percent of all export businesses in the U.S. have a maximum employee count of 20, underlining the critical role small enterprises play in the national economy. The SBA's diverse loan programs have played a pivotal role in nurturing these businesses, providing essential capital and support.

At Fichance, we recognize the significance of such financial backing. We align with the SBA's commitment to supporting small businesses, offering flexible loan options designed to cater to their distinct needs. Just as the SBA has stood beside entrepreneurs for 70 years, we aspire to be a dependable financial ally for small businesses as they chart their paths to growth and success.

The SBA's 70th anniversary isn't merely a celebration of its past achievements but also an indication of its promising future. With organizations like Goldman Sachs expressing their support for the agency's reauthorization and modernization, it's evident that the SBA's role in nurturing small businesses is more crucial than ever.

As we anticipate the next 70 years, let's pause to appreciate the invaluable contributions of the SBA. Here's to the SBA, a beacon for small businesses, and to the ongoing growth and prosperity of all entrepreneurs!



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