New SBA Administrator Kelly Loeffler Outlines PrioritiesNew SBA Administrator Kelly Loeffler was confirmed in February, and has since laid out her agenda for the Administration. “My first priority is rebuilding the SBA into an America First engine for free enterprise by empowering small businesses and fueling economic growth," she said. "From day one, we will uphold the highest standards of accountability, performance, and integrity, where taxpayer dollars will be safeguarded, not squandered. We will streamline operations, drive efficiency, and ensure programs deliver real results. It’s a new day at the SBA, and I’m honored to lead a team that is committed to serving America’s job creators and citizens when disaster strikes.” Loeffler says the SBA aims to promote “Made in America” with U.S. manufacturing. She says it is committed to supporting an "America First" agenda by rebuilding American supply chains and investing in manufacturing to strengthen the nation’s economy and national security. The Office of International Trade is now the Office of Manufacturing and Trade, and it will focus on promoting economic independence, job creation, and fair trade practices. The SBA will also partner across agencies to scale manufacturing and technology startups. Under the new Administration, the SBA has eliminated the Office of Diversity, Equity, Inclusion, and Accessibility. It has also paused related grants and the Green Lender Initiative. The Administration is also working closely with the Department of Government Efficiency (DOGE), as well as mandating full-time, in-office work for SBA employees. It will continue to evaluate workforce reduction measures, including the overhaul of all advisory boards. Hon. Kelly Loeffler, SBA Administrator The SBA says it will crack down on fraud under Loeffler. The agency has established a Fraud Working Group to identify, stop, and regain criminally-obtained funds. It also promised an agency-wide financial audit, to protect the solvency of loan programs, and restore underwriting standards. It has already restarted dormant collections programs and is revising practices it says have jeopardized the zero-subsidy status of programs like the 7(a), SBA’s primary business Loan Program. It is also implementing a policy "banning illegal aliens from receiving any taxpayer-funded assistance" and "restricting hostile foreign nationals from accessing SBA assistance." The Administration is reducing regulation which has been a burden to small businesses. "For the first time in years, SBA will fully staff and empower the Office of Advocacy to utilize its power to identify and eliminate burdensome regulations promulgated by all federal agencies, as authorized by the Regulatory Flexibility Act, Small Business Regulatory Enforcement Fairness Act of 1996, the Congressional Review Act, and other statutes," it said in a press release. "The Administrator will work alongside the Chief Counsel for Advocacy to cut past and future regulations across the board and partner with all federal agencies to ensure they are working to reduce bureaucracy and costs for job creators and promote successful business formation." Additionally, the SBA aims to improve its customer service, technology, and cybersecurity, promote fair competition by returning 8(a) contracting goals to statutory levels, and relocate regional offices out of sanctuary cities. It also says it will end "partisan voter registration activities." Loeffler, an entrepreneur, executive, philanthropist, and former U.S. Senator from Georgia, is the 28th Administrator of the SBA. Read other business articles |