Washington, DC — The United States Small Business Administration and The Global Black Economic Forum formed a Strategic Alliance to strengthen and expand support for small businesses in local communities across the country. This partnership will leverage the strengths and resources of both organizations to maximize benefits for small business communities. 

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This partnership focuses on information sharing and education of available resources from both institutions for one another, collaborating and participating in joint events on financing and government contracting, and facilitating communications to ensure both organizations' communities are informed about the tools and information available.

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"The SBA is thrilled to launch its strategic alliance with the Global Black Economic Forum and join forces to deliver impactful resources, highly-tailored programs, and affordable capital solutions to Black small business owners and innovative startups," said SBA Administrator Isabel Casillas Guzman. "Black entrepreneurs are the heartbeat of the historic Biden-Harris Small Business Boom, and our collaboration with the Global Black Economic Forum will allow us to better serve the growing Black-owned small business who are critical to America’s economy and global competitiveness."

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“The alliance between the Global Black Economic Forum and the Small Business Administration is about mutual support and resource sharing,” said President and CEO of the Global Black Economic Forum Alphonso David.  “At a time when programs to support Black entrepreneurs and entrepreneurs are under attack, we recognize the importance of partnering with the SBA to continue developing solutions that focus on increasing access to capital, contract opportunities, and resources for Black entrepreneurs and entrepreneurs of color across the nation.”

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Administrator Guzman joined the Global Black Economic Forum Business Summit at the 2024 Essence Festival of Culture and her participation underscored the importance of building public-private partnerships. Attendees had the opportunity to learn about success stories of small businesses and how the Small Business Administration has advanced economic opportunity for all. For more information about the resources and details of this partnership, please visit gbef.com and sba.gov. You can also watch the full conversation from the 2024 Essence Festival of Culture on demand: How Small Businesses and Innovative Startups Drive Economic Growth for All Communities