Jul 12, 2022 - Axios Events

Biden's SBA wants to "double down" on Main Street support

Axios' Javier E. David and Isabel Casillas Guzman
Axios' Javier E. David and Administrator Isabel Casillas Guzman at an Axios event on Tuesday.

The Biden administration plans to "double down" on efforts to reach small businesses and get them the resources they need, Small Business Administration Administrator Isabel Casillas Guzman told Axios at event Tuesday.

Driving the news: Small businesses have faced many challenges since the onset of the coronavirus pandemic, and are now dealing with the effects of inflation. Guzman said the government will do more to reach low- and moderate-income, underserved and rural communities.

Guzman said small businesses are facing "extreme challenges" when it comes to prices.

  • "I spoke with a baker the other day that saw increases in some course supplies like flour up to four times the cost or eggs up to six times the cost," Guzman said.
"Now more than ever, affordable capital is so critical. And so the SBA is really committed to expanding its its programs to ensure that they're more simple, that they're technology forward, so that they can be more customer-centric and that they're equitable."
ā€” Small Business Administrator Isabel Casillas Guzman

Guzman also said the SBA is working with lenders to expand access to more small businesses.

  • "We want to make sure those small businesses are reached and that they can connect to the federal resources that are available to them," Guzman said.
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