“I think the Small Business Administration is probably the least understood agency in the federal government,” she says, “but I would say we’re the most free enterprise agency as well.” The SBA’s connection to American industry runs deeper than many realize. Loeffler points to its roots in the Small Defense Plants Administration and to President Dwight D. Eisenhower’s understanding that America’s economic and national strength were tied to its ability to manufacture, build and maintain a strong domestic industrial base. “He understood how the defense base powered not just America’s economy, but our ability to be strong around the world,” Loeffler says. When that predecessor agency became the Small Business Administration in 1953, its mission expanded around another pressing need: helping returning veterans and aspiring entrepreneurs gain “access to the capital, counseling and contracting that would make them successful.” More than seven decades later, those functions remain central to the agency. The SBA helps small businesses access financing through federally guaranteed loans made by participating lenders, while also providing counseling and guidance around federal contracting.
“So many good things come out of times of change.” — ADMINISTRATOR LOEFFLER
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BUILDING THE FUTURE WOMEN
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