The Small Business Association’s Administrator Isabella Guzman explains why it is more vital than ever to support your local mom-and-pop’s shops this year.
Last week, the U.S. Small Business Administration (SBA) reported that it has awarded just shy of $300 billion in COVID-19 recovery loans to nearly 4 million businesses. In the spring of 2020, one of America’s tiniest federal agencies found itself at the center of the biggest economic crisis in a generation, and it has been a lifeline for many Americans navigating how to stay afloat financially.
Like the rest of the country, though, life at the SBA is slowly returning to normal: Most federal pandemic funds are now used up (R.I.P., Paycheck Protection Program) or about to be (with Economic Injury Disaster Loans), and the agency is gearing up to launch new programs that continue helping U.S. small businesses transition back.
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