Joel Libava
Specifically, the proposal from the Trump administration eliminates SBA funding for almost all entrepreneurial development programs. Including:
- Women’s Business Centers (WBCs)
- SCORE
- The State Trade Expansion Program (STEP)
- Veterans Business Outreach Centers (VBOCs).
Read what Senator Markey wrote in a Press Release on this issue.
Trump Administration Planning Drastic SBA Cuts
From the U.S. Senate Committee on Small Business and Entrepreneurship’s Ranking Member Edward J. Markey:
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“President Trump’s budget proposal starves the Small Business Administration with a draconian 33 percent cut to resources that support our nation’s 34 million small businesses. It eliminates longstanding successful bipartisan programs, such as SCORE mentoring services, and shutters more than 150 Women’s Business Centers that support women entrepreneurs. It eliminates the State Trade Expansion Program that helps small businesses stay competitive and sell their goods abroad, and axes programs that foster our innovation and technology sectors. SBA’s veteran outreach programs, which helped 58,000 former members of the military use their skills to start new enterprises last year, would be cut by 46 percent.
The Senator continues:
“The President’s budget provides no relief for small businesses already feeling the pain from Trump’s misguided tariff policies. After Trump, Elon Musk, and SBA Administrator Loeffler hit small businesses with cuts, chaos, and corruption during the Administration’s first 100 days, the last thing small business owners need now is more pain on Main Street. Congress must act and reject Trump’s budget proposal.”
That’s right. SBA loan lenders are going to start feeling the effects of the Trump regime.
Finally, here’s more on the chaos and potential corruption…
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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