The FY 2011 Budget allocated $994 million for the Small Businesses Administration (SBA). It is more than $170 million, or 21 percent in the budget of 2010. This budget shows the Small businesses have a great significance in US Economy & Law makers.
Discretionary spending on SBA:
- FY2011 Request: $994 million
- FY2010 Enacted: $700 million
The SBA Budget Highlights
- $28 billion in loan guarantees to help small businesses. It will help them to access credit and create jobs.
- The SBA supports small business loans, but does not directly loan money, 1/3 of the SBA budget goes to salaries and expenses.
- The SBA is losing $5 million which is used for liquidation of credit. The budget states that the total outlay is $1.24 billion in addition to the $994 million .
- The Budget provides $ 165 Million in subsidy against 7(a) loan extend program.
- $ 14 million Supports Business Growth and Cluster Development
- $1.1 billion in Funds Long-Term Disaster Recovery