SBA Certifies Record # of Diverse-Owned Small Businesses

Rob Philion • November 7, 2024


A woman is drinking coffee while using a laptop computer.

The agency has certified more than 17,000 diverse-owned small firms this year as part of a broader effort to expand access to federal contracting.


The Small Business Administration announced today that it gave out more than 17,000 federal contracting certifications to small firms during this fiscal year through its programs for women, veterans , socially and economically disadvantaged business owners, and businesses located in historically underutilized areas.


Certifications are up by 40 percent from last year, making it a single-year record, according to the press release.


SBA’s programs aim to allow more diverse-owned businesses to compete for lucrative government contracts. Over 12 million small businesses in the U.S. are women-owned , over 1.9 million are veteran-owned , and 3.5 million are Black-owned , according to the agency.


SBA’s efforts to expand access to federal contracts are paying off for small businesses: Earlier this year, the agency announced that 28 percent of prime government contracts went to small firms in fiscal year 2023. Those contracts generated a total of $178.6 billion for small businesses–an all-time high–beating the previous year’s total by $15.7 billion.


The SBA projects that more than 28 percent of contracts will again go to small businesses in fiscal year 2024.


“[T]he SBA has taken bold action to ensure that more small businesses than ever before can compete for and win valuable government contracts,” SBA head Isabel Casillas Guzman said in a press release, nodding to a newly released online platform where small business owners can apply for certifications.


“However, we don’t just want to certify more firms—we want those firms to have more contracts to pursue,” Guzman added. 


Hence, the SBA is advocating for an expansion to their Rule of Two, which mandates that government agencies set aside a contract for small businesses when two or more such businesses are “expected to submit offers at reasonable prices,” per the press release. This rule change would expand the rule so that agencies earmark contracts awarded to multiple businesses, too. The SBA estimates this could generate up to $6 billion more for small firms per year.

Business owners can submit comments on this proposed rule change at the Federal Register until December 24.


Article written by ANNABEL BURBA for Inc.com

SBA Certifies Record # of Diverse-Owned Small Businesses
April 23, 2025
🌸 Spring Forward: 5 Proven Ways to Boost Your Small Business Earnings This Season The sun is out longer, flowers are blooming, and customers are on the move—spring is one of the most lucrative times of the year for small businesses. But are you capturing all the potential revenue this season has to offer? If your answer isn’t an enthusiastic “YES!”, then now’s the time to pivot, refresh, and supercharge your small business strategy. Whether you’re running a cozy café, a bustling boutique, or a niche eCommerce shop, these five powerful methods can help increase your earnings this spring—and beyond. And guess what? If you’re looking to take your business to the next level, an SBA loan might just be your secret weapon. Let’s dive in. 1. 🌟 Leverage Seasonal Promotions That Spark Urgency Imagine this: a customer scrolls past your Instagram ad and sees “Spring Flash Sale – 24 Hours Only!” They weren’t planning on buying anything today, but now their heart races. They click. They shop. They buy. That’s the power of seasonal urgency. Spring-exclusive promotions are a proven way to drive immediate sales. Use limited-time offers tied to holidays like Mother’s Day or Memorial Day, or run weekly “Spring Savings” events. These strategies tap into seasonal excitement and FOMO (fear of missing out), encouraging quick action from potential customers. 💡 Pro Tip: Pair your promotions with email campaigns and social media countdowns. Bonus points if you offer early access to your email list—building both loyalty and sales! 2. ✅ LIST: Five Quick Upgrades That Can Boost Your Business Earnings This Spring Let’s get tactical. Here are five actionable ways to increase revenue—starting now: Launch a New Product or Service – Spring is a season of renewal. Test a fresh offering to spark customer interest. Revamp Your Storefront or Website – A fresh coat of paint or a sleek UX update can drastically increase foot traffic or conversions. Host a Spring Pop-Up or Event – Collaborate with local businesses to increase exposure and community engagement. Offer Seasonal Packages or Bundles – Combine products/services into limited-time spring bundles for added value. Invest in Digital Ads – Even a modest ad budget can bring huge ROI if targeted correctly during peak seasonal activity. Many of these ideas require upfront investment, which is where an SBA loan can give you the flexibility to experiment and scale. From storefront renovations to marketing campaigns, these funds can unlock the next level of your business growth. 3. 💬 STORY: From Side Hustle to Spring Surge—How One Entrepreneur Did It Meet Jasmine, owner of a plant and home goods shop in Eugene, Oregon. Last year, she noticed her foot traffic skyrocketed every April, but her revenue didn’t follow. She decided to dig deeper. Here’s what she changed: She introduced limited-edition spring planter sets. She used her SBA loan to upgrade her signage, boost inventory, and launch Google ads. She started a “Spring Sunday Series,” inviting local florists to host in-store workshops. The result? A 32% increase in revenue over the spring quarter—and her highest-earning season ever. Jasmine’s story is a powerful reminder that a small shift, backed by the right financing, can create big results. 4. 🤔 FAQ: How Can an SBA Loan Help Me Grow This Spring? We get this question all the time at ComCap Inc., so let’s break it down. Q: What is an SBA loan and how does it work for seasonal growth? A: An SBA loan is a small business loan partially guaranteed by the U.S. Small Business Administration. These loans typically come with lower interest rates and longer repayment terms compared to traditional loans. Spring is a strategic time to use an SBA loan because it allows you to: Stock up on seasonal inventory Hire extra help for peak traffic Launch timely marketing campaigns Upgrade equipment or physical space Need help figuring out if an SBA loan is right for you? Reach out to ComCap—we specialize in matching businesses with the right financing solutions. 5. 💡 ENGAGEMENT: What’s Holding Your Business Back This Spring? Take a moment and ask yourself: What’s the one thing that could unlock growth for your business this season? A new piece of equipment? A storefront makeover? More advertising budget? If you had access to funding, what would you change? Drop your answer in the comments—or better yet, talk to a ComCap advisor who can help you turn that idea into reality. Remember, waiting until summer could mean missing your spring revenue window. 🌱 Spring Is the Season of Growth—Don’t Miss Your Moment Your business deserves to bloom. With the right promotions, upgrades, and a strategic approach to funding—like securing an SBA loan—you can make this spring your most profitable season yet. At ComCap Inc., we specialize in helping small businesses access the financing they need to grow. Whether it’s your first SBA loan or your fifth, our expert team is ready to help you navigate the process and seize this season’s opportunities. 👉 Ready to grow your business? Contact ComCap Inc. today to explore your SBA loan options.
By Rob Philion April 7, 2025
The U.S. Small Business Administration's (SBA) 7(a) loan program serves as a vital resource for small businesses seeking financial assistance. With loan amounts up to $5 million, these loans offer flexible terms and can be utilized for various business purposes. Here are specific ways SBA 7(a) loans can support and enhance your small business. 1. Purchasing Real Estate Acquiring land or commercial property is a significant step for business expansion. SBA 7(a) loans can finance the purchase of owner-occupied real estate, providing favorable terms and lower down payments compared to conventional loans. 2. Working Capital Maintaining adequate working capital is essential for daily operations. SBA 7(a) loans can be used to bolster your working capital, ensuring you have the necessary funds to cover operational expenses and manage cash flow effectively. ​ 3. Debt Refinancing If your business is burdened with high-interest debt, refinancing through an SBA 7(a) loan can lead to more manageable payments and improved financial health. This option allows you to consolidate existing debts under more favorable terms. ​ 4. Purchasing Equipment and Machinery Upgrading or acquiring new equipment is often necessary for business growth. SBA 7(a) loans can finance the purchase of essential machinery and equipment, enabling you to enhance productivity and stay competitive. 5. Buying Inventory Maintaining sufficient inventory is crucial, especially for retail and manufacturing businesses. SBA 7(a) loans provide funds to purchase inventory, ensuring you can meet customer demand without straining your cash reserves. ​ 6. Business Acquisition or Partner Buyout Expanding your business through acquisition or buying out a partner can be facilitated with SBA 7(a) loans. These loans offer the necessary capital to take over existing businesses or increase your ownership stake. 7. Leasehold Improvements Enhancing your leased space to better suit your business needs can improve operations and customer experience. SBA 7(a) loans can fund renovations and improvements to leased properties, allowing you to create an optimal business environment. ​ 8. Starting a Business For entrepreneurs looking to launch a new venture, SBA 7(a) loans can provide the initial capital required for startup costs, including equipment, inventory, and working capital. This support can be instrumental in turning your business idea into reality. ​ 9. Exporting Goods and Services If you're aiming to expand into international markets, SBA 7(a) loans can support export activities by providing working capital and funds for export-related expenses. This assistance can help you tap into new revenue streams abroad. ​ By leveraging the versatility of SBA 7(a) loans, small businesses can address various financial needs, from expansion and equipment purchases to debt refinancing and working capital management. Understanding these options enables you to make informed decisions that align with your business goals and financial strategy.
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