Biden Administration Begins Initiative to Expand Access to Capital for Small Businesses
The Biden administration is looking to strengthen the small business sector by expanding access to capital, investments, technical assistance and services required to support the companies’ growth initiatives.
As part of the initiative, the administration has proposed rules to diversify the network of private funds and managers that provide long-term debt or equity investments to small businesses and extend additional licenses to nonbank lenders and community development financial institutions, the White House said Tuesday .
The Small Business Administration is also proposing to update regulations governing certain loan programs to ease processing burdens for small business borrowers.
In December 2022,