The U.S. Small Business Administration is praising President Donald Trump for delivering several economic wins in the first 100 days of his presidency. Leadership within the agency believes that the commander-in-chief is helping to grow and expand small businesses across the country with many of his newly implemented economic policies.
According to the SBA, Trump has managed to bring about an 80% increase in 7(a) and 504 loan approvals. With about 26,000 loans approved for $12.6 billion, a strong surge in small business formation and growth is indicated. This includes a 95 percent increase in loans for businesses with five or fewer employees (nearly 15,500 loans), a 56 percent increase in loans for new startups (over 3,700 loans), and a 74 percent increase in 7(a) loans for manufacturers (over 1,500 loans).
Additionally, for the first time in the organization’s history, all regional administrator positions have been appointed within 100 days of a new administration.
“In just 100 days, President Trump has restored optimism and opportunity for our job creators with a pro-growth economic agenda that has already slashed inflation, driven job creation, and delivered record investment,” said SBA Administrator Kelly Loeffler. “At the SBA, we’re driving that agenda forward by serving the massive surge in demand for loans, which is a strong indicator that our small businesses finally have the confidence to hire, expand, and invest.”
“Anchored by our broader efforts to eliminate waste, enhance efficiency, and restore fiscal responsibility, the SBA is now a powerful engine for American workers and job creators – and in just 100 days, the results speak for themselves.”
In the first 100 days of the Trump Administration, the SBA also enacted the ‘Day One Priorities’ announced by Loeffler when she was first sworn in. Agency accomplishments include:
Cutting Waste and Enhancing Efficiency
- Reduced total agency spending by about $190 million.
- Terminated or paused over 120 contracts for about $3 billion in future savings.
- Terminated, consolidated, or relocated 47% of SBA leases – including regional offices located in sanctuary cities.
- Announced an agency-wide reorganization that will reduce the SBA workforce by 43%, restoring it to pre-pandemic levels for a cost savings of $435 million annually by 2026.
Advancing President Trump’s Agenda
- Took the lead on the President’s initiative to restore American industrial dominance, jobs, and national security by launching the Made in America Manufacturing Initiative to cut $100 billion in red tape, improve access to capital, and promote workforce development.
- Enacted President Trump’s Executive Orders, including eliminating the Office of Diversity, Equity, Inclusion, and Accessibility, updating agency collateral to reflect the existence of only two genders, ending the Green Lender Initiative, and terminating the Biden-era MOU with the Michigan Secretary of State’s office.
Restoring Fiscal Responsibility
- Took immediate action to enhance fraud protections within SBA loan programs by mandating that all loan applications include a citizenship and birth date verification.
- Restored underwriting standards and lender fees to the 7(a) loan program in the effort to preserve the zero-subsidy status of the program, protect taxpayers from fiscal liability, and reverse the Biden-era mismanagement that led to historic defaults.
Delivering Disaster Relief
- Approved over 17,000 disaster loans totaling $3.4 billion, far exceeding the total volume of disaster loans approved in all of FY 24 under Biden, including $1.4 billion in Florida, $350 million in North Carolina, and $173 million in Georgia.
The U.S. Small Business Administration has announced the agenda for the National Small Business Week Virtual Summit, a free online event that will be held May 6-7. Registration is required. The Virtual Summit, co-sponsored by SCORE, will feature more than a dozen educational workshops led by cosponsors, access to federal resources, and networking and mentorship opportunities.
Austen Shipley is the News Director for Yellowhammer News. You can follow him on X @ShipleyAusten
