Small Business Administration - History

History

The SBA was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. Its function was and is to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns".

The SBA has survived a number of threats to its existence. In 1996, the Republican-controlled House of Representatives planned to eliminate the agency. It survived and went on to receive a record high budget in 2000. Renewed efforts by the Bush Administration to end the SBA loan program met congressional resistance, although the SBA's budget was repeatedly cut, and in 2004 certain expenditures were frozen. The Obama Administration has supported the SBA budget. Significant supplemental appropriations for the agency strengthened SBA lending through the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010.

Read more about this topic:  Small Business Administration

Famous quotes containing the word history:

    When we of the so-called better classes are scared as men were never scared in history at material ugliness and hardship; when we put off marriage until our house can be artistic, and quake at the thought of having a child without a bank-account and doomed to manual labor, it is time for thinking men to protest against so unmanly and irreligious a state of opinion.
    William James (1842–1910)

    I think that Richard Nixon will go down in history as a true folk hero, who struck a vital blow to the whole diseased concept of the revered image and gave the American virtue of irreverence and skepticism back to the people.
    William Burroughs (b. 1914)

    No event in American history is more misunderstood than the Vietnam War. It was misreported then, and it is misremembered now.
    Richard M. Nixon (b. 1913)