Thank you, Rhett for partnering with the SBA on the Getting Back on Track series and for all that you do for small businesses.
Also, for gathering this incredible group of entrepreneurs and small business advocates! I know today’s discussion is going to be great!
We have a strong program with several special guests including Congressman Jason Crow and our SBA team of dedicated experts. And, of course, our Vice President Kamala Harris!
I’ve spent the past several weeks traveling around the country meeting with small business owners. They’ve been reopening their doors and welcoming their customers back. And, as the latest economic reports show, our economy is clearly on the road to recovery.
From the restaurant owner in Las Vegas who has plans to open more locations across the state to the music venue operator in Richmond who is once again selling tickets for live shows … small businesses are feeling more optimistic about the future – and its thanks in large part to the billions of dollars in relief funded by the American Rescue Plan, which Vice President Harris worked so hard to get passed.
At the same time, with the impact of COVID-19 still weighing heavily, many of our small businesses continue to struggle. After months of disruptions, increased costs and debt, there is still uncertainty – especially among our smallest businesses in rural and low-income communities, and those owned by women and people of color. These entrepreneurs faced historic inequities and persistent barriers, which kept them from accessing early rounds of relief and other vital resources.
That’s why the Biden-Harris administration’s focus on equity is so important. If our nation is going to recover fully, then we must give everyone with an idea or an entrepreneurial dream the tools and support they need to help build our reimagined economy.
The SBA has scaled from a $40 billion dollar portfolio to more than one trillion in relief and we remain committed to delivering billions more swiftly and equitably. Today you’ll learn about our COVID Economic Injury Disaster Loan (EIDL) program … tax credits to help vaccinate your workforce … our PPP Direct Forgiveness Portal for loans of 150 thousand dollars or less … and more. We are working to design and implement programs that are streamlined and accessible to meet our small businesses where they are.
And the Bipartisan Infrastructure Deal announced yesterday will be a game-changer, providing unprecedented investments in infrastructure and enhancing our global competitiveness.
In addition, the Biden-Harris Administration’s Buy American initiative – which includes a commitment to buy from all of America – will create important new opportunities, and will build on efforts to increase federal contracts for small businesses with financing and business development support.
Small businesses are at the forefront of the Biden-Harris administration’s Build Back Better agenda as we know they are our job creators and the giants in our economy.
I’m honored to be joined today by Vice President Kamala Harris, who, throughout her career has fought to strengthen small businesses, increase access to capital, and help all entrepreneurs thrive.
She is committed to supporting the smallest of the small businesses through community lenders which are a critical part of SBA’s network during the pandemic, they were able to provide billions of dollars in PPP forgivable loans to our smallest businesses, thanks to her advocacy.
Small businesses are close to her heart and I am so proud that we have a Vice President who regularly takes time to meet with our nation’s entrepreneurs to hear about their challenges, ideas and dreams for the future.
Everyone, please join me in giving a warm welcome to Vice President Kamala Harris.
VPOTUS Remarks
Thank you, Madame Vice President. And now it’s my privilege to introduce two small business owners – Tiara Flynn and Walt Rowen.
Tiara Flynn is an entrepreneur and an Air Force veteran from Las Vegas, Nevada. As president and CEO of Sumnu Marketing, a minority business enterprise originally launched by her father, Tiara helps fellow small business owners access the marketing tools they need to grow. She’s won numerous awards for her efforts to partner with other minority business enterprises. Sumnu Marketing received SBA assistance during the COVID pandemic through our PPP and EIDL programs.