Join SBA New England in Shopping Small on November 27, 2021

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New England Regional Office  - November 22, 2021

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Illustration of a main street with small businesses and the following text, Small Business Saturday, November 27, 2021
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Amy K. Bassett

Acting Regional Administrator

New England Regional Office

U.S. Small Business Administration

The COVID 19 pandemic confirmed the critical role that small businesses play in our daily lives. Neighborhood restaurants, entertainment venues, service companies, and any business where in person contact was the norm, endured periodic closure and suffered financial hardship. These small businesses are the engine of our national economy.

Today, there are over 32.5 million small businesses in the United States. About half of all American workers are either employed by a small business or own a small business. These businesses create two out of three net new private-sector jobs in America, helping to spur economic growth in communities across our country and add vibrancy and strength to our nation.

With vaccination rates increasing as more groups become eligible and with booster shots now available, consumer confidence is on the rise. More people are choosing in person dining and shopping experiences. Let’s keep up the momentum -- small businesses still need our support now more than ever as they continue to navigate, retool, and pivot from the effects of the pandemic.

Small Business Saturday is the prefect opportunity to help our local businesses. Celebrated each year on the Saturday after Thanksgiving, November 27 this year, Small Business Saturday is a way for consumers to make an impact in their community by shopping at independently owned businesses during the holiday season.

Since 2011, the U.S. Small Business Administration has been a formal cosponsor of Small Business Saturday, which was founded by American Express in 2010.  Each year, we encourage independent businesses to leverage Small Business Saturday to help drive more traffic to their businesses – whether it’s through their doors or to their e-commerce site during the holiday shopping season.

The day is designed to support local businesses that create jobs, boost the economy, and preserve neighborhoods around the country. It was created to help independent businesses capture a larger piece of the critical holiday season consumer spending, while also helping address small business owners’ most pressing need: getting more customers through their doors.

Last year, thousands of communities in all 50 U.S. states, territories, and Washington, D.C. supported the day and helped small businesses remain resilient through the pandemic.

While the holidays may still look a little different this year, we can each do our part by:

  • Shopping small and doing your holiday purchasing at a small business.
  • While you are supporting your local small businesses for Small Business Saturday, dine small, too -- visit your local eateries and independent restaurants.
  • Encouraging friends and family to do the same by shopping at a small business in-person or online.

As our economy gets back on track, shopping small is a way to show support for the businesses who have pivoted and adapted and are helping to lead the way in bringing our main streets and business centers back to life.

I want you to join me in shopping small not only on Small Business Saturday and through this holiday season, but as often as possible. Our local shops and restaurants are depending on our continued support.  

Find out more about Small Business Saturday: www.sba.gov/saturday

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Co-sponsorship Authorization #22-3-C. SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.

eidl

SBA recently announced the following updated guidance for COVID Economic Injury Disaster Loan (EIDL) program applicants to better serve small business owners in need, while funding remains available:

  • EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.

  • Supplemental Targeted Advance applications will be accepted until December 31; however, the SBA may be unable to process some Supplemental Targeted Advance applications submitted near the December 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after December 31 and strongly encourages eligible small businesses to apply by December 10 to ensure adequate processing time.

  • Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.

  • The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.

The COVID EIDL and EIDL Advance programs still have billions of dollars available to help small businesses hard hit by the pandemic. More than 3.8 million businesses employing more than 20 million people have found financial relief through SBA’s Economic Injury Disaster Loans.

Learn more

Apply today


Community Navigator

Recently, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced grantees for the Biden-Harris Administration's Community Navigator Pilot Program, an American Rescue Plan initiative designed to reduce barriers that all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, often face in accessing critical support. The Community Navigator Pilot Program will provide $100 million in funding to 51 organizations that will work with hundreds of local groups to connect America's entrepreneurs to government resources so they can recover and thrive. 

Utilizing a “hub and spoke” model from public health care federal programming, the SBA’s Community Navigator Pilot Program will help level the playing field for America’s entrepreneurs, especially our underserved women, people of color, veterans, and rural and low-income communities. Grantee “hubs” will serve as centralized, lead organizations, and will incorporate "spokes" to leverage partnerships with deeply trusted community-based organizations to help small businesses navigate government resources and tap into critical resources. 

The SBA conducted a competitive review process to ensure compliance, objectivity, and integrity that allowed every applicant an opportunity to demonstrate the impact the SBA’s support of their organization could have on their communities.  

Organizations selected to receive funding will be ramping up their operations in the coming weeks to support local business owners. 

Classification: To best ensure the greatest amount of equity and diversity across geographies and optimize the SBA’s service delivery reach, the program established a tiered approach, as follows: Tier 1 will represent organizations with a national footprint; Tier 2 organizations will have a statewide and/or regional reach; and, Tier 3 will focus on city, countywide and/or rural engagement.  

Breadth and depth of network: 51 Community Navigators will provide coverage across the country with the support of over 400 spoke organizations. Each hub organization will support a minimum of 5 spokes.  

Funding: The SBA will provide grants to Community Navigators ranging from $1M to $5M over the course of two years. Tier 1 recipients were awarded up to $5 million, Tier 2 up to $2.5 million and Tier 3 up to $1 million.  

There are five Community Navigators in New England including:

 

Tier 

 

Organization

 

Location 

2

Community Development Finance Authority

NH

2

Vermont Small Business Development Center  

VT

3

Cape Verdean Association of Brockton

MA

3

New Bedford Economic Development Council

MA

3

Social Enterprise Greenhouse

RI

 

In the coming weeks, our New England-based Community Navigators will get their programs off the ground and we will share more details about what they have to offer.

For additional information on SBA’s Community Navigator Pilot Program please visit www.sba.gov/navigators.   


Illustration of a trophy with the following text, 2022 National Small Business Week Awards. Now accepting nominations. Visit sba.gov/nsbw

Throughout the pandemic, the American entrepreneurial spirit has helped us propel our nation forward. America’s small businesses are helping build back the U.S. economy and we would like to honor these individuals for their resiliency and achievements during SBA’s 2022 National Small Business Week.

If you or someone you know has an inspiring small business success story to tell, submit a nomination for the SBA’s National Small Business Week Awards. All nominations must be submitted electronically no later than 3:00 p.m. ET on January 11, 2022. Winners will be announced during National Small Business Week in May 2022.

Learn more


Photo of four people with the following text, SBA Celebrates National Native American Heritage Month on November 30, 2021 at 1 pm EST

Join the SBA on November 30, 2021 for an online panel discussion with Native American business owners who will share their small business stories, how they pivoted during the pandemic, and the SBA resources they used to start and grow their businesses.

Register