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Harris to announce record lending from Small Business Administration

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The SBA has provided $56 billion in loans to small businesses in the last year.

Democratic presidential nominee, Vice President Kamala Harris speaks during a campaign rally at Erie Insurance Arena on October 14, 2024 in Erie, Pennsylvania.is expected to announce record lending from the federal government to small business owners on Thursday, according to a White House fact sheet shared exclusively with ABC News.

The SBA lends money to small businesses as a way for them to get off the ground, expand or rebuild -- especially when other financing options might not be available -- and companies must meet eligibility requirements, such as being based in the United States or only having a certain number of employees, to qualify for the loans.

The announcement from Harris comes as she seeks to dispel voters’ doubts over the Biden-Harris administration’s handling of the economy and inflation.

 

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