"SBA Administrator Guzman Testifies on Agency Priorities and FY 25 Budget Justification During Committee Hearing"
Summary
A press release dated March 20, 2024 on testimony by Small Business Administration Administrator Isabel Guzman before the House Small Business Committee on agency priorities and SBA's FY 2025 budget justification at a full committee oversight hearing. The release quotes Ranking Member Nydia M. Velázquez (D-NY) citing a record number of small business applications and the nation's 33 million entrepreneurs. It lists the priorities Guzman testified on, including increasing small-dollar lending, preventing fraud, creating more government contracting opportunities, making employee ownership more accessible and improving disaster assistance. The release closes with a quotation from Guzman on small businesses' access to capital, tools and resources.
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Full text
SBA Administrator Guzman Testifies on Agency Priorities and FY 25 Budget Justification During Committee Hearing March 20, 2024 Washington, DC – Today, Small Business Administration (SBA) Administrator Isabel Guzman testified before the House Small Business Committee on agency priorities and the agency’s FY 2025 budget justification during a full committee oversight hearing. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) highlighted small businesses' progress under the Biden administration, examined the agency’s work to combat fraud, and discussed agency priorities for the year ahead. “It has been three years since you were confirmed as SBA Administrator when you took the helm of the agency amid an unprecedented crisis for our nation’s small businesses,” said Congresswoman Velázquez. “But today, thanks to the work of the Biden administration and Democrats in Congress, we’ve seen a record number of small business applications and job creation. Looking forward, I hope to learn more about your vision for the agency and how SBA’s FY 2025 budget plan can help support our nation’s 33 million entrepreneurs.” During the hearing, Administrator Guzman testified on the agency’s priorities for the year ahead, which include increasing small-dollar lending, preventing fraud, creating more government contracting opportunities, making employee ownership more accessible, expanding opportunities for justice-involved individuals, improving disaster assistance and ensuring small firms play a prominent role in Biden administration programs. The hearing allowed Members to explore SBA’s upcoming fiscal year priorities and explore ways Congress can enhance support for small businesses in the years ahead. “Making sure small businesses have access to the capital, tools, and resources they need to fully leverage every growth opportunity remains our focus at the SBA. The Biden-Harris Administration has made significant and lasting progress at the SBA and across the federal government, building the economy from the middle out and bottom-up for all Americans,” said Administrator Guzman. “Now we are working to foster strong, equitable, sustainable growth and resilience for all of our small businesses. I look forward to working in partnership with the Committee to ensure that SBA has the resources that we need to help America’s small businesses grow and sustain our economic growth.”
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