The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam. Overview & History Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. The SBA was officially established in 1953, but its philosophy and mission began to take shape years earlier in a number of predecessor agencies, largely as a response to the pressures of the Great Depression and World War II. The Reconstruction Finance Corporation (RFC), created by President Herbert Hoover in 1932 to alleviate the financial crisis of the Great Depression, was SBA's grandparent. The RFC was basically a federal lending program for all businesses hurt by the Depression, large and small. It was adopted as the personal project of Hoover's successor, President Franklin D. Roosevelt, and was staffed by some of Roosevelt's most capable and dedicated workers. Concern for small business intensified during World War II, when large industries beefed up production to accommodate wartime defense contracts and smaller businesses were left unable to compete. To help small business participate in war production and give them financial viability, Congress created the Smaller War Plants Corporation (SWPC) in 1942. The SWPC provided direct loans to private entrepreneurs, encouraged large financial institutions to make credit available to small enterprises, and advocated small business interests to federal procurement agencies and big businesses. The SWPC was dissolved after the war, and its lending and contract powers were handed over to the RFC. At this time, the Office of Small Business (OSB) in the Department of Commerce also assumed some responsibilities that would later become characteristic duties of the SBA. Its services were primarily educational. Believing that a lack of information and expertise was the main cause of small business failure, the OSB produced brochures and conducted management counseling for individual entrepreneurs. Congress created another wartime organization to handle small business concerns during the Korean War, this time called the Small Defense Plants Administration (SDPA). Its functions were similar to those of the SWPC, except that ultimate lending authority was retained by the RFC. The SDPA certified small businesses to the RFC when it had determined the businesses to be competent to perform the work of government contracts. By 1952, a move was on to abolish the RFC. To continue the important functions of the earlier agencies, President Dwight Eisenhower proposed creation of a new small business agency -- the Small Business Administration (SBA). In the Small Business Act of July 30, 1953, Congress created the Small Business Administration, whose function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulated that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. By 1954, SBA already was making direct business loans and guaranteeing bank loans to small businesses, as well as making loans to victims of natural disasters, working to get government procurement contracts for small businesses and helping business owners with management and technical assistance and business training. The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately owned and operated venture capital investment firms. They specialized in providing long-term debt and equity investments to high-risk small businesses. Its creation was the result of a Federal Reserve study that discovered, in the simplest terms, that small businesses could not get the credit they needed to keep pace with technological advancement. In 1964, SBA began to attack poverty through the Equal Opportunity Loan (EOL) Program. The EOL Program relaxed the credit and collateral requirements for applicants living below the poverty level in an effort to encourage new businesses that had been unable to attract financial backing, but were nevertheless sound commercial initiatives. SBA has grown in terms of total assistance provided and its array of programs tailored to encourage small enterprises in all areas. SBA's programs now include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. The SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade.Small Business Administration is a well-established organization. It was founded way back in 1953. This time-proven organization loves to hire graduates from University of North Texas, with 10.0% of its employees having attended University of North Texas. Want to explore some other great places to work in Washington, DC? You can check out our full list of Best Companies to Work For in Washington, DC.The average employee at Small Business Administration makes $50,827 per year. In comparison, some of its highest paying competitors, like Pearlman, Minority Business Development Agency, and U.S. Department of Housing and Urban Development, pay $76,236, $64,401, and $60,138, respectively.Based in Washington, DC, Small Business Administration is a small government organization with only 125 employees and an annual revenue of $5.2M.
Small Business Administration's mission statement
The U.S. Small Business Administration was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.
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4.2/5
Small Business Administration employee reviews
Based on 9 ratings
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Employee reviews
4.0
A zippia user wrote a review on Nov 2023
Pros of working at Small Business Administration
I love this job so much. I will like to experience new things and new co worker
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4.0
A zippia user wrote a review on Aug 2023
Pros of working at Small Business Administration
Everything
Cons of working at Small Business Administration
Maybe, someone, there are no customers
Small Business Administration benefits
Writing, editing, copying
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5.0
A zippia user wrote a review on Jul 2022
Pros of working at Small Business Administration
The people and being a part of helping people during times of crisis
Cons of working at Small Business Administration
Long process for client
Small Business Administration benefits
Remote work - I am so much more productive
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5.0
A zippia user wrote a review on Feb 2022
Pros of working at Small Business Administration
Each Loan is different and is handled differently
Cons of working at Small Business Administration
Currently because of Covid the loans may possible run out and contract work
Small Business Administration benefits
The flexible hours
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4.0
A zippia user wrote a review on Jul 2021
Pros of working at Small Business Administration
Training, results oriented approach, and mid level management
Cons of working at Small Business Administration
Lack of flexibility for family life
Small Business Administration benefits
Benefits (financial), work and life balance, emergency leave.
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2.0
A zippia user wrote a review on May 2021
Pros of working at Small Business Administration
The pay
Cons of working at Small Business Administration
Felt like I wasn’t helping people
Small Business Administration benefits
Being able to be active during work
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5.0
A zippia user wrote a review on Jan 2021
Pros of working at Small Business Administration
Nice people good place to work good hour people very helpful
Cons of working at Small Business Administration
Low salary
Small Business Administration benefits
Overtime
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5.0
A zippia user wrote a review on Jan 2021
Pros of working at Small Business Administration
Fast learning and fast paced environment.
Cons of working at Small Business Administration
That I'm not able to move up to higher positions when I know everything to be the manager, but we are family owned.
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Small Business Administration rankings
Small Business Administration is ranked #49 on the Best Government companies to work for in District of Columbia list. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity.
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Small Business Administration diversity
9.8
Diversity score
We calculated Small Business Administration’s diversity score by measuring multiple factors, including the ethnic background, gender identity, and language skills of Small Business Administration’s workforce.
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Small Business Administration financial performance
6.4
Performance score
Highest paying Small Business Administration competitors
Compare Small Business Administration salaries to competitors, including Pearlman, Minority Business Development Agency, and U.S. Department of Housing and Urban Development. Employees at Pearlman earn the highest average yearly salary of $76,236. The salaries at Minority Business Development Agency average $64,401 per year, and the salaries at U.S. Department of Housing and Urban Development come in at $60,138 per year.
Rank
Company
Average salary
Jobs
1
$76,236
0
2
$64,401
0
3
$60,138
0
4
$59,723
0
5
$59,351
0
6
$58,261
0
7
$56,607
0
8
$56,052
0
9
$54,351
0
10
$48,359
0
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Zippia gives an in-depth look into the details of Small Business Administration, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Small Business Administration. The employee data is based on information from people who have self-reported their past or current employments at Small Business Administration. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Small Business Administration. The data presented on this page does not represent the view of Small Business Administration and its employees or that of Zippia.
Small Business Administration may also be known as or be related to Office of Economic Research, Small Business Administration, U.S. Small Business Administration, US Small Business Admin and Us Small Business Administration.
