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SBA Administrator Isabel Guzmán.
SBA Administrator Isabel Guzmán during her visit to New Jersey. Photo: @SBAIsabel.

SBA highlights historic growth in new small businesses

The head of the Small Business Administration (SBA) recently toured Rhode Island and Massachusetts.

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In her quest to boost the purchase of American-made products and highlight the historic growth of new small businesses, Administrator Isabel Guzmán met with small business owners in Rhode Island and Massachusetts.

Guzmán took advantage of her visit to highlight the record number of applications to open new small businesses, which represents an increase of 30% under the Biden Administration, while underlining the importance of acquiring locally produced products for the country's economy.

Guzmán stated:

America’s small businesses make and deliver the products we all depend on every day, especially in New England, where making things is ingrained in the culture. 

O&G Studios, a furniture maker that creates modern heirlooms based on American design traditions, was highlighted in Rhode Island by Guzmán as an example of a company that creates locally.

The business received support from COVID-19 Paycheck Protection Program (PPP), and Economic Injury Disaster Loans (EIDL) loans to help with its recovery from the pandemic.

For his part, during Guzmán’s visit to Taylor Box, a company founded in 1885 that designs and produces specialized cardboard containers, the president and CEO, Dan Shedd, highlighted how thanks to a PPP loan his company was able to pay its employees during the pandemic emergency.

“As we saw firsthand in Rhode Island, buying American-made products helps create highly-skilled jobs, grows the economy, and increases our competitiveness in the global economy,” highlighted Guzmán.

The visit to Rhode Island ended at Hope & Main, a food incubator famous for helping small businesses start and grow. There, Guzmán toured the space and participated in a small business roundtable where she was able to hear first-hand from several of the companies that used the facility during their startup and growth stages. During the pandemic, Hope & Main received PPP and COVID EIDL money to fund payroll and help with recovery from the pandemic.

In Massachusetts, Guzmán and Boston Mayor, Michelle Wu, visited Nubian Markets, a market, cafe, and gathering place that celebrates African culture. There, they met with small business owners and local community leaders to discuss the successes and challenges of their businesses and learn about various supports available from the federal, state, and city governments for small businesses and diverse entrepreneurs.

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