{"id":11354,"date":"2022-04-21T14:13:05","date_gmt":"2022-04-21T19:13:05","guid":{"rendered":"https:\/\/planetlaundry.com\/?p=11354"},"modified":"2022-04-21T14:13:05","modified_gmt":"2022-04-21T19:13:05","slug":"white-house-expands-sba-program-targeting-underserved-entrepreneurs","status":"publish","type":"post","link":"https:\/\/planetlaundry.com\/white-house-expands-sba-program-targeting-underserved-entrepreneurs\/","title":{"rendered":"White House Expands SBA Program Targeting Underserved Entrepreneurs"},"content":{"rendered":"

Vice President Kamala Harris and Isabel Guzman, administrator of the U.S. Small Business Administration<\/a>, recently announced reforms to the agency\u2019s Community Advantage loan program, a key SBA tool for Community Development Financial Institutions, Community Development Companies, microlenders and other critical mission-based lending partners that prioritizes equitable access to capital for low-income borrowers and those from underserved communities.<\/p>\n

\u201cAmerica\u2019s mission-driven lenders have been a critical partner to the SBA in getting much-needed financial relief to underserved businesses throughout the COVID pandemic,\u201d Guzman said. \u201cScaling the SBA\u2019s Community Advantage pilot program will help us build on that momentum, create a broader distribution network, and better ensure that the opportunities of our nation\u2019s accelerating recovery are accessible to more entrepreneurs pursuing their American dreams of starting and growing a successful business. The Community Advantage pilot expansion and reforms reflect the central role that President Biden and Vice President Harris have given to building equity across this Administration and removing historic inequities and barriers that have limited economic growth for all.\u201d<\/p>\n

Among the reforms announced, the SBA will:<\/p>\n