Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream. It’s mission is to maintain and strengthen the nation's economy by enabling small businesses' establishment and vitality. America's entrepreneurs are innovators who take risks on ideas, invest in their communities, and create jobs. Their skills and creativity not only support their own families, they also make our neighborhoods vibrant places to live and work and fuel the nation's economic strength.
7A loans are the most common loans provided by the SBA Program. This chart covers loans from 2010 – Q1 2020. We can see steady growth of 16.8% per year from 2012 – 2017.
The Office of Advocacy, an independent office within the U.S. SBA, today released the Small Business Profiles for the States and Territories. Each year, Advocacy’s economic research team gathers the most recent government economic data to construct an in-depth but user-friendly snapshot of each state’s small business employment, industry, and economic growth statistics. The United States has 30.7 million small businesses, and they employ 47.3 percent of the private workforce.