Congressional Hispanic Caucus Statement Following Meeting With SBA Administrator Linda McMahon
Washington, DC – Today, the Congressional Hispanic Caucus Chair Michelle Lujan Grisham (NM-01) issued the following statement following a Congressional Hispanic Caucus meeting with Linda McMahon, the Administrator of the U.S. Small Business Administration (SBA).
“Today’s meeting with Administrator McMahon gave our Members the opportunity to discuss how important Hispanic small businesses and entrepreneurs are to growing the economy. More importantly, we discussed the barriers our constituents face when attempting to access critical SBA programs and small business loans. In fact, less than a quarter of Hispanic-owned small businesses have heard of the SBA and only about 8 percent of SBA loans are awarded to Hispanics.
“The Congressional Hispanic Caucus is eager to work with the SBA to break down the social, economic, and institutional barriers to starting, running, and growing a business. We hope today’s meeting with Administrator McMahon will lead to more collaboration with CHC and increased outreach to minority and Hispanic communities, which will help close the opportunity gap for Hispanic-owned businesses.
“The CHC will work to ensure that this administration does not lose sight of the important role Hispanic-owned businesses play in strengthening our country and economy. Making prudent investments in our communities will help promote growth and create economic opportunity for all Americans.”
The Congressional Hispanic Caucus (CHC), founded in December 1976, is organized as a Congressional Member organization, governed under the Rules of the U.S. House of Representatives. The CHC is dedicated to voicing and advancing, through the legislative process, issues affecting Hispanics in the United States, Puerto Rico and U.S. Territories.