[Congressional Record Volume 169, Number 136 (Tuesday, August 15, 2023)]
[Extensions of Remarks]
[Page E776]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





               HONORING THE SMALL BUSINESS ADMINISTRATION

                                 ______
                                 

                           HON. MICHAEL GUEST

                             of mississippi

                    in the house of representatives

                        Tuesday, August 15, 2023

  Mr. GUEST. Mr. Speaker, on July 30, 1953, President Dwight D. 
Eisenhower signed into law an act of Congress establishing the Small 
Business Administration (SBA) with the purpose of promoting and 
supporting small businesses across the United States of America. Since 
its founding, the SBA has stood as a pillar of support for America's 
entrepreneurs. Today, we recognize the SBA's invaluable contributions 
to empowering entrepreneurs; fostering economic opportunity and 
innovation; and building a vibrant and resilient economy for all 
Americans.
  Over the past seven decades, the SBA has implemented groundbreaking 
programs and innovative lending initiatives that have helped 
entrepreneurs transform the economic landscape of our nation. By 
recognizing these achievements, we honor the SBA' s commitment to 
fostering economic opportunity and supporting the indomitable spirit of 
our small business owners.
  America is a Nation of progress, and small businesses are vital to 
spurring the competition and the innovations that drive our economy. 
The SBA plays a vital role in fostering entrepreneurship.
  The SBA has been instrumental in providing access to capital for 
entrepreneurs who faced obstacles in securing traditional financing. 
SBA launched the 8(a) Business Development Program which provides 
support, mentorship, and access to government contracts for socially 
and economically disadvantaged small business owners. This program 
opened the doors of opportunity for minority-owned businesses, creating 
a more inclusive economic landscape.
  Recognizing the extraordinary contributions that American women make 
to our economy, the SBA established the Office of Women's Business 
Ownership, empowering women entrepreneurs and women-owned small 
businesses to thrive.
  In times of crisis, the SBA plays a crucial role in disaster 
recovery, providing low-interest disaster loans to businesses and 
homeowners impacted by natural disasters.
  During the unprecedented challenges brought forth by the COVID-19 
pandemic, the SBA played a pivotal role in keeping our economy afloat 
with its administration of critical relief programs. The Paycheck 
Protection Program, COVID Economic Injury Disaster Loan program, the 
Restaurant Revitalization Fund, and the Shuttered Venue Operators Grant 
helped small businesses keep the lights on, safeguarded millions of 
jobs, preserved livelihoods, and ensured the survival of American 
enterprise.
  Please join me in honoring the Small Business Administration's legacy 
by continuing to support and uplift our Nation's small businesses.

                          ____________________