Record 19 Million New Business Applications Filed Under Biden-Harris Administration - SBA

[Ramsey Barner]

WASHINGTON – Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced the Biden-Harris Administration has tripled SBA lending to Black-owned businesses while doubling small-dollar lending and lending to Latino- and women-owned small businesses. The new data comes as the United States reaches a record 19 million new business applications under the Biden-Harris Administration.

Having already achieved the first, second, and third strongest years of new business applications on record, the Biden-Harris Administration’s economy remains on track for its fourth consecutive year of historic business filings. The U.S. economy has grown more in the past four years than in any other four-year span in the last quarter century.

https://www.sba.gov/article/2024/08/14/small-dollar-lending-lending-underserved-entrepreneurs-continues-rise-record-19-million-new-business

Link to Statement from President Joe Biden:
https://www.whitehouse.gov/briefing-room/statements-releases/2024/08/14/statement-from-president-joe-biden-on-a-record-19-million-new-business-applications/