Happy Birthday, SBA!
When, following the suggestion of President Eisenhower, Congress passed the Small Business Act and created the Small Business Administration in 1953, its stated mission was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns," and also ensure small businesses a “fair proportion” of government contracts. The SBA still does these core functions to this day.
And at the time he signed the Small Business Act, President Eisenhower said: “It is my wish that the federal government programs and policies aimed at assisting small businesses ...provide such enterprises with additional constructive assistance.” Sixty years later, the landscape of the nation has changed substantially, but SBA’s mission and its commitment to the success of small business remain the same.
During the past six decades, SBA has helped tens of millions of small businesses start, grow and succeed through the delivery of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. In addition, in the aftermath of devastating disasters, SBA disaster loans have helped more than a million homeowners and renters, and hundreds of thousands of businesses recover and rebuild their lives.
More from the Small Business Administration.