Small Biz Stats
In 2024, small businesses were responsible for this percentage of all new jobs added to the U.S. economy.
What is 63%
Cannabis businesses can't get SBA loans because this law still classifies marijuana as illegal.
What is the federal Controlled Substances Act?
Women-owned businesses represent roughly this share of all U.S. businesses as of 2024.
What is about 42%?
The new SOPs say loan officers must check this like a detective -- minus the trench coat and magnifying glass.
What is borrower eligibility?
About this many small businesses in the U.S. have no employees and are run by just one person.
What is 26 million?
Currently, cannabis businesses often rely on these, instead of SBA loans, for funding.
What are private investors or cash financing?
In 2024, women-owned businesses received about this share of SBA loans, while men-owned businesses received the rest, showing a major funding gap.
What is 26% for women and 74% for men?
What new method did the SBA say "bye-bye" to paper and "hello" to digital in 2025?
What is electronic submission?
This is the average number of years a small business lasts before closing or changing ownership.
What is about 8.5 years?
If federal laws change, cannabis companies could start applying for this popular type of SBA loan.
What is a 7(a) loan?
Some critics say the SBA relies too heavily on these private entities, which may have biased lending practices.
What are partner banks or SBA-approved lenders?
In 2025, the SBA added new tech-friendly rules to make applying on your phone or tablet as easy as ordering pizza -- because who wants to print stuff anymore?
What is a mobile-friendly application process?
This is the most common industry for small businesses in the U.S., covering shops, restaurants, and personal services.
What is retail and hospitality?
This government agency is the watchdog of the SBA and makes sure federal laws are followed, including those about cannabis loans.
What is the U.S. Department of Justice?
In 2020, during the PPP loan rollout, these types of businesses -- often in lower-income neighborhoods -- had slower access to funds.
What are minority-owned businesses or small businesses in underserved areas?
The 2025 SOP changes allow AI to help predict this, making it easier to decide which businesses get loans and which don't.
What is credit risk?