SBA Administrator on Government Shutdown's Impact on Small Businesses

Small Business Confidence Pre-Shutdown

• 💡 Prior to the shutdown, small business confidence reached a seven-year high as of September.
• 🎯 This confidence was attributed to President Trump's economic agenda, including supply-side economics, free trade, low taxes, deregulation, and access to capital.
• 🚀 In fiscal year 2025, the SBA set a 72-year lending record, surpassing $45 billion to 85,000 small businesses, reflecting belief in Trump's economic policies.

Economic Consequences of the Shutdown

• ⚠️ The current government shutdown is described as having the intended effect by Democrats to hurt Main Street and small businesses.
• 💰 The shutdown is estimated to cost $15 billion per week and shave 1-2.10% off GDP.
• 📉 It could potentially lead to 43,000 jobs lost in a month, with a significant portion of these losses impacting small businesses that rely on federal workers or contracts.
• 💬 Small business owners are reporting not getting paid for work done, which hinders their ability to hire, invest, and grow.

SBA's Efficiency Efforts

• ✂️ The SBA has reduced its headcount by approximately 52% since day one, operating with a "do more with less" philosophy.
• 🛠️ The agency is committed to finding further efficiencies and being accountable to taxpayers, contrasting with the Democrats' preference for big government.
• ✅ The SBA aims to demonstrate accountability to taxpayers with their hard-earned dollars at the end of the year.