SIMBA Small Business Blog: Action Alert: Protect Small Business Lending & Grants

Late last month, non-profits and federally funded programs across the country scrambled in the wake of an Executive Order threatening a freeze on federal loans and grants. Much of the media focus on the freeze was on programs like Head Start, WIC, and student loans, but small business owners were a potential direct target of the freeze. Whether small businesses realize it or not, most business lending is backed or funded by the federal Small Business Administration (SBA). You may have received your small business loan from a local credit union like Numerica, but the funding was likely SBA-backed. In addition to providing small business lending, the SBA also administers a number of grant programs that fund organizations who provide (FREE) direct support to small businesses nationwide.

Gratefully, after a federal court enjoined (stopped) the federal freeze, the federal Office of Management and Budget (OMB) rescind the freeze and the Executive Order. It is unclear if and when a freeze may return, and how that might impact small business owners. As an organization supporting independent and local businesses throughout Eastern Washington, SIMBA happily signed onto a petition with Main Street Alliance to reach out to Congress to request taht federal loans and grants from the SBA are not subject to disruption. If you’re a small business owner who wants to tell your elected officials the same thing - especially if you have received or want to receive an SBA loan - you can do that easily here: Take Action to Protect Small Businesses. The link has a short form that will add your name to the Main Street Alliance petition. You can even include details on how an SBA freeze, or any federal funding freeze, will impact your business and family.