SBA Administrator Kelly Loeffler: SBA now processing $5B in backlogged loans to small businesses

Impact of Government Shutdown - The Small Business Administration (SBA) was prevented from delivering over $5 billion in loans to approximately 10,000 small businesses due to the government shutdown [1][2] - The shutdown potentially cost the American economy $100 billion in economic activity and 60,000 lost jobs [5] - The SBA is rapidly processing delayed loans to reopen Main Street [3] Economic Outlook and Small Business Confidence - Small business confidence is at a 7-year high and above its 52-year average, even amid the shutdown [8][9] - GDP growth was 3.8% in the last quarter, and wages are growing faster than inflation for the first time in four years [6] - $17 trillion is expected to come into the country, much of which will be deployed at small businesses [6] Labor and AI - The percentage of small businesses mentioning labor quality as their single most important problem jumped to 27%, up nine points month over month [11] - The SBA is focused on skilled labor opportunities, working with Secretary Chavez Dreamer to support an initiative to have over 1 million apprentices [13] - AI is expected to level the playing field for small businesses, enabling them to compete with larger businesses [16] Trade and Investment - The United States is a source of about 60% of the world's capital, being invested at unprecedented levels [19] - Over $100 billion in total capacity is going out to small businesses, reflecting their confidence to invest, borrow, grow, and hire [20] - Fair trade policies are expected to bring back industries and enhance national security [24]