SBA nominee commits to expand resources to Black businesses

(Special from Black Enterprise via Defender News Service) — Jovita Carranza’s nomination to serve as the new administrator of the U.S. Small Business Administration (SBA) was ap-proved in December by the Senate Committee on Small Business & Entrepreneurship , 17-2.

Carranza, who has served as deputy administrator of the SBA and is currently U.S. treasurer, says if confirmed by the full Senate that a priority for her will be to expand access to SBA resources among entrepreneurs in disadvantaged communities, including African-American and Latino businesses, as well as businesses started by veterans. “By better connecting these small businesses with SBA support services, we can help even more underrepresented entrepreneurs overcome barriers to financial capital and gain access to lucrative government contracts.”

She added another of her priorities will be to open more doors for women-owned businesses. “Women entrepreneurship is on the rise, but we can do more to ensure they have access to relevant resources and professional support so that they can scale and take their businesses to the next level.”

The ante is high for small businesses as the SBA guaranteed more than $28 billion in loans to entrepreneurs in its fiscal year 2019. There are more than 30 million small businesses in America, including reportedly around 2.6 million Black-owned businesses.

This article originally published in the January 13, 2019 print edition of The Louisiana Weekly newspaper.