WASHINGTON, April 16, 2015 /PRNewswire-USNewswire/ -- Administrator Maria Contreras-Sweet, the head of the U.S. Small Business Administration (SBA), called today for Congress to approve the Trade Promotion Authority (TPA) proposal introduced this week. The Administrator has traveled the country in recent months, talking with entrepreneurs, lending partners and community leaders, hearing first-hand the importance of international trade for our small businesses.
"Right now, 95 percent of the world's consumers live outside our borders, but only one percent of our businesses sell to them," said Administrator Contreras-Sweet. "TPA is an essential step in changing that equation and helping our entrepreneurs access vital foreign markets. Our small businesses know that the economy is increasingly global, and they're counting on Washington to help them rise to the challenge. At the SBA, we stand ready to help American small businesses take full advantage of new market opportunities through our counseling services, loan guarantees and export promotion programs."
"More than half of American small business exporters are selling to only one foreign market, usually Canada," continued Contreras-Sweet. "If we're going to maintain our global economic leadership, that has to change. Strong trade agreements are particularly vital to our smaller exporters, who often lack offshore affiliates and other resources that help larger corporations navigate trade barriers and gain market access."
The SBA supports expanding exports by American small businesses through its flagship 7(a) and 504 loan programs, as well as through trade-specific credit products. SBA also provides no-cost counseling to small businesses seeking to export via a vast network of 68 district offices, 19 U.S. Export Assistance Centers, 900 small business development centers, nearly 100 women business centers, and 15 Veterans' business opportunity centers.
Advisory Number: MA 15-26
SOURCE U.S. Small Business Administration