As per Forbes, the Small Business Administration continues to work to improve access to capital for women and underserved entrepreneurs.
SBA Administrator Isabella announced significant changes to the agency's Community Advantage (CA) lending program at March-end.
The reform will help the SBA 7(a) loan (a popular credit option for women) program to increase its level up to $350,000 from the present $250,000.
SBA is confident that CDFIs' affordable financing to women will encourage small businesses during the pandemic.
In 2019, the Small Business Administration (SBA) awarded about $330 million in business loans to black women entrepreneurs.
The SBA Great Lakes administrator said, "We've come a long way since the Women's Business Ownership Act of 1988, when we needed a man to co-sign a loan for a business."
Last year, the SBA's Office of Women's Business Ownership awarded 14 grant awards.
At the same time, the Small Business Administration (SBA) has awarded 14 women's business centers $2.7 million in grants.
In April, a Texas lady was sentenced to 70 months in jail for defrauding the PPP loan of $1.9 million in SBA-guaranteed loans.
Last February, the SBA Administrator announced a $150,000 grant to expand Alaska's historic Women's Business Centers.