Federal Government Small Business Loans For African American- Minority Small Businesses!


  In 1997, the Federal Government's Small Business Administration guaranteed 1,902 loans worth $286.4 million to African American-minority small businesses under the 7(a) and 504 small business loan programs. That is an increase over 1992 of 157% in the number of small business loans and a 117% increase in the dollar amount loaned. 

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Over the past five years, the Federal Government's Small Business Administration has guaranteed 9,371 small business loans worth $1.24 billion in loans to African American-minority owned businesses. 

Over the next three years, the Federal Government's Small Business Administration plans to deliver another $1.4 billion in loans to African American-minority small businesses. That means that during the eight years of the Clinton Administration, the SBA will have delivered almost $2.8 billion in small business loan capital to African American-minority owned small businesses. 

In 2000, the Federal Government's Small Business Administration plans to back $588 million in small business loans to African American-minority small businesses, more than double the amount loaned to African American-minority small businesses in 1997, and more than four times the amount loaned in 1992. 

In the Federal Government's Small Business Administration's 8(a) Minority Enterprise Development Program, almost half (45%) of the 6,100 participating small businesses are African American-minority small businesses. 

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