SBA Releases Strategic Plan for FY 2022-2026

The Small Business Administration’s strategic goals for FY 2022-2026 include providing an equitable and customer-centric delivery of programs to small businesses, building resilient businesses and a sustainable economy, and implementing strong stewardship of resources, according to a strategic plan released this week. SBA also noted that it will continue to “implement technologies that expediently provide funds to small businesses in need,” including through continued forgiveness of Paycheck Protection Program loans.

Last November, ABA submitted a letter to SBA urging the agency to be more transparent in its policy decisions and to share those decisions with key stakeholders and small businesses. In addition, ABA asked SBA to invite feedback on policy decisions related to its loan programs and to enhance the successful 7(a) program instead of implementing a direct lending program.