The United States Small Business Administration (SBA), established on July 30, 1953, by President Eisenhower, is an independent government agency dedicated to strengthening the nation's economy by supporting entrepreneurs and small businesses. Its core mission revolves around "3 Cs": providing crucial capital through government-backed loan guarantees (like the 90% guarantee offered after the 2008 financial crisis), ensuring small businesses secure federal contracts (aiming for 23% of prime contracts), and offering extensive counseling.
The SBA supports a vast network of partners, including Small Business Development Centers, Women's Business Centers, and SCORE, which collectively counsel over 1 million entrepreneurs and small business owners annually. Despite facing past threats of elimination, the agency has proven resilient and received renewed support, notably when President Obama elevated the SBA Administrator to a Cabinet-level position in January 2012. The SBA also plays a critical role in assisting communities with economic recovery following disasters.