BALTIMORE (WJZ) — A day after President Biden delivered his State of the Union address, representatives from the Small Business Administration traveled to Baltimore to tour the Made in BMore Clothing factory.
The purpose of Wednesday’s visit was to highlight the positive impact of the US bailout and discuss what the Biden administration is doing to reach underserved communities across the country.
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“When (President Biden) talks about succeeding in America, he wants to make sure that all federal government agencies are ready to ensure that growth and investment are fairly distributed,” said SBA Administrator Isabel Guzman.
One of the topics discussed during the visit was streamlining the process by which suppliers apply for government contracts.
“We found that black businesses represent 10% of all businesses, but less than 2% of contracts go to black businesses and there are disparities that the agency can see, track and understand,” Guzman said.
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The US Black Chambers Inc. was also on the tour. The organization’s mission is to help reduce the barriers that underserved entrepreneurs face when trying to access the programs needed to recover from an economic crisis.
Ron Busby, president and CEO of the organization, cited the Paycheck Protection Program as an example. He said a day after news of the $349 billion package became widely known, $250 billion was awarded to listed companies.
“(They) had relationships,” Busby said. “It’s up to us now to create those relationships today and don’t wait for the next wave of challenges.”
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Guzman said the Small Business Administration will continue to work toward an inclusive economy while investing in America.