SBA Announces $18.8 Million to Support Small Business Trade Growth

Washington, DC – Administrator Maria Contreras-Sweet, head of the U.S. Small Business Administration (SBA), today announced $18.85 million to support export growth among American small businesses.  The funding was awarded through SBA’s competitive State Trade Expansion Program (STEP).Contreras-Sweet heralded the news as a boon for America’s small businesses: “Exporting provides tremendous opportunities for America’s small businesses and entrepreneurs.  Two-thirds of the world’s purchasing power can be found outside of the United States, but only about one percent of America’s 28 million small businesses are reaching customers beyond our borders.  Exporting is an important growth opportunity for our small businesses that are ready to expand their reach into new and increasingly borderless global markets.  These STEP awards, in addition to SBA's export loans and U.S. Export Assistance Centers, help small businesses across our nation have the tools, resources and relationships they need to take their businesses global.”