How the Biden administration is doing on its goal of getting more loans to minority small business owners

SBA loans to Black-owned small businesses have surpassed the $1 billion milestone for three consecutive years and have more than doubled since 2020.

"To continue to under-invest and face these barriers in the communities is something that would limit our economy and our growth competitively," said SBA Administrator Isabel Casillas Guzman. "The systemic issues around access to capital are of course foremost." The loan growth comes after considerable effort by the Biden Administration to support the development of Black businesses and other underserved communities, including expanding the

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