Small Business Administration Great Lakes Regional Office, Small Business Majority Sign Strategic Alliance Memorandum to Support Entrepreneurship in the Midwest

Minneapolis — The U.S. Small Business Administration (SBA) Great Lakes Regional Office and Small Business Majority today signed a strategic alliance memorandum (SAM) that outlines ways in which the two organizations will work together to further support, uplift and expand entrepreneurship throughout the Great Lakes region. 

Through this collaborative effort, the SBA regional office and Small Business Majority will work together to develop and share educational programs and resources aimed at enhancing small business growth in the local community. This alliance will focus on helping entrepreneurs gain access to critical funding, federal contracting opportunities and technical assistance. By providing these tools and resources, the collaboration seeks to empower local small business owners and drive economic development in the region. 

“The SBA Great Lakes Regional Office is proud to formalize our strategic alliance with Small Business Majority organization as we work to strengthen and expand small business development across the region,” said Geri Sanchez Aglipay, SBA Regional Administrator. “We’re prioritizing financial readiness with SBA Administrator Guzman’s leadership on sweeping regulatory reforms in 40 years, and under the Biden-Harris Administration small dollar loans and loans to underserved markets including rural, veteran, women, and people of color-led businesses have increased. With this agreement, the SBA remains committed to ensuring entrepreneurs have access to the tools and resources needed to start, grow and build resilient businesses.”

This strategic alliance between SBA Great Lakes and Small Business Majority comes at a time of unprecedented small business growth – more than 19 million new small businesses applications have been filed nationwide over the last four years. Despite this growth, Small Business Majority’s research consistently finds that small businesses – particularly those owned by women and minorities – continue to struggle with lending. 

“It’s difficult for most entrepreneurs to secure the capital needed to start or grow a business,” said Tasha Brown, Midwest Director at Small Business Majority. “We’ve been trying to solve this problem for years, which is why we’re proud to partner with the Small Business Administration – by far the leading organization when it comes to small business lending. We look forward to working with SBA Great Lakes Region to provide more resources and education for small businesses throughout the Midwest, particularly the women and minority entrepreneurs that find themselves on an uneven playing field when it comes to accessing loans.”