Washington, June 14, 2022 (GLOBE NEWSWIRE) — Today, Administrator Isabella Casillas Guzmanhead of the US Small Business Administration (SBA) and the voice of the 32.5 million American small businesses in President Biden’s cabinet, signed a Strategic Alliance Memorandum (SAM)— an authority unique to the SBA among federal agencies — with President Reuben A. Shelton III, Esq., on behalf of the National Panhellenic Council (NPHC) Presidents’ Council, comprised of nine historically black fraternities and sororities, sometimes referred to as the “Divine Nine”.
“This historic alliance between the SBA and the NPHC – the first of its kind for a government agency – will put the SBA’s valuable small business resources within reach of many small businesses and entrepreneurs, furthering the Biden administration’s commitment -Harris to build equity and close historic wealth gaps that have held back Black American entrepreneurs, small business owners, and their families and communities for generations,” said Administrator Guzman. “Over the past 18 months, the SBA has made incredible strides in reaching more America’s small businesses, providing vital resources and support to entrepreneurs who have been historically underinvested and overlooked – the very people and communities hardest hit. affected by the COVID pandemic. Working alongside partners and allies within the Divine Nine will provide even greater reach for the SBA to better provide the highly entrepreneurial Black community with access to networks, financial literacy, technical training and preparation. capital so they can successfully realize their American dreams of business ownership, create jobs, and advance our economy.
Announced ahead of Juneteenth, this new strategic alliance advances the SBA’s implementation of the Biden-Harris administration’s commitment to strengthen equity across the federal government and across America. Under the new alliance, a unique agreement for a federal government agency, the partnership will focus on improving financial literacy within traditionally underserved and disadvantaged communities, expanding the agency’s reach and introducing Black entrepreneurs to the SBA’s suite of tools and resources to get started and grow. their businesses, including access to capital, government contracting opportunities and advice.
Reuben A. Shelton III, Esq., President of the Council of Presidents of the National Panhellenic Council and Grand Polemarch of Kappa Alpha Psi Brotherhood, Inc., added“The National Panhellenic Council and its affiliated organizations are excited about this opportunity with the US Small Business Administration. This collaboration will give NPHC members critical access to information that will help small businesses grow and create jobs in all sectors of our economy.
Often represented on thousands of college campuses, including Historically Black Colleges and Universities (HBCUs), with members in leadership positions in civic and business organizations and the faith community, the NPHC has more than 2.5 million active members and dozens of former members. Taken together, this group of committed leaders is a critical ally in helping to build trust within key communities and introduce small business owners to essential resources to bolster their business results as we seek to close the wealth gap. . The NPHC represents the following organizations:
- Alpha Phi Alpha Fraternity, Inc.
- Alpha Kappa Alpha Sorority, Inc.
- Kappa Alpha Psi Fraternity, Inc.
- Omega Psi Phi Brotherhood, Inc.
- Delta Sigma Theta Sorority, Inc.
- Phi Beta Sigma Fraternity, Inc.
- Zeta Phi Beta Sorority, Inc.
- Sigma Gamma Rho Sorority, Inc.
- Iota Phi Theta Fraternity, Inc.
The SBA has deepened its engagement and support for African American, Black, and historically disadvantaged small business owners.
In line with the Biden-Harris administration’s agenda outlined in the recently released SBA Fairness Action Plan, the SBA has instituted several major changes to level the playing field for all small businesses, including making Impactful Reforms to the Community Advantage (CA) Loan Pilot Program that prioritizes equitable access to capital for low-income borrowers and those from underserved communities, publish disaggregated data across industries and sectors by race and ethnicity and contributing to the implementation of contract reforms bring in diverse new entrepreneurs and launch the $100 million US bailout Community Browsers program.
In addition, the SBA has increased the number of Women’s Business Centers (WBCs) it supports to 146 – the largest WBC network in SBA history. Notably, this investment under Administrator Guzman means the tripling of WBCs in HBCUs and Minority Serving Institutions (MSI). As of March 2021, the full list of WBCs housed on campuses of historically black colleges and universities (HBCUs) now includes:
- Miles College, Fairfield, Alabama
- Savannah State University, Savannah, Georgia
- Morgan State University, Baltimore, Maryland
- Bowie State University, Bowie, Maryland
- Jackson State University, Jackson, Mississippi
- Alcorn State University, Lorman, Mississippi
- Bennett College, Greensboro, North Carolina
- Winston-Salem State University, Winston Salem, North Carolina
- Benedict College, Columbia, South Carolina
- Virginia Union University, Richmond, Virginia
The SBA remains committed to increasing capital for small businesses, including those in underserved communities. This means ensuring that contractors have access to capital, standard and disaster loan programs, and PPPs straightforward forgiveness as well as assistance in increasing their income by putting their products online or in global markets and accessing procurement opportunities, often by connecting them to one of the Agency’s new community networks Browsers, hundreds of field offices, or thousands of Resource partners – including Small Business Development Centers, Business centers for women, SCORE chapters, and Veteran Business Ownership Centers – for mentoring, training and assistance in navigating government resources.
For more information on SBA funding opportunities, please visit www.sba.gov/funding-programs.
Please click here to view photos from the signing event.
About the United States Small Business Administration
The United States Small Business Administration helps fuel the American dream of business ownership. As the single, go-to resource and voice for small businesses backed by the strength of the federal government, the SBA gives entrepreneurs and small business owners the resources and support they need to start, grow, or grow their business, or recover from a declared crisis. disaster. It provides services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
About the National Panhellenic Council
The National Panhellenic Council (NPHC) was founded on May 10, 1930 at Howard University in Washington, DC. The aim is to promote the cooperative actions of its members in dealing with issues of common interest. To this end, the NPHC promotes the welfare of its affiliated fraternities and sororities, facilitates the establishment and development of local NPHC councils, and provides leadership training to its constituents.
Strategic Alliance Memorandum (SAM)