A message from the SBA Great Lakes Regional Administrator Geri Aglipay

The 4th of July not only symbolizes American independence but also serves as a reminder of the significant contributions immigrants have made to the country’s economy over the past 247 years. Our collective story of immigrant, Native American, enslaved, and free African American communities is woven with diversity, creating an inclusive and thriving American economy, vibrant communities, and financial stability.

While June is recognized as national Immigrant Heritage Month, which celebrates America’s identity as a nation of immigrants who have greatly contributed to our labour force and economic growth, Independence Day also encourages us to acknowledge the authentic participation of immigrants in the American economy. Immigrants establish small businesses, generating employment opportunities and fostering generations of prosperity. Their contributions extend to various industries, such as manufacturing, science, technology, agri-business, retail, education, and care services, among others, driving innovation and progress.

As an Asian American woman of color and the proud daughter of immigrants, I am personally invested in promoting inclusive economic growth and entrepreneurship. My mother, an immigrant from the Philippines, became a citizen but tragically became widowed just a month later. She found herself as a single parent with three young children, working two minimum wage jobs to provide for our family. Unbeknownst to her at the time, her part-time side gig as a domestic childcare worker turned her into a self-employed entrepreneur. Her experience represents the journey of entrepreneurs from socioeconomically disadvantaged communities, whom the Small Business Administration (SBA) now strives to support. Under President Biden’s Invest in America initiative, the SBA is committed to meeting individuals where they are, empowering those from economically disadvantaged backgrounds.

I have personally witnessed the connection between wealth, improved health, and housing security, and I believe that business ownership is a vital path to building wealth, second only to homeownership. However, accessing the necessary resources to develop social capital, knowledge capital, and financial capital remains a challenge for individuals from low and moderate-income backgrounds, as well as working-class individuals who aspire to start and grow small businesses.

The unwavering commitment of the United States to diversity and inclusion helps level the playing field for disadvantaged and immigrant communities in both urban and rural areas. U.S. Census data reveals that foreign-born immigrants make up 25% of the rural Hispanic and Latino population and 74% of the rural Asian population in the country. Under the leadership of SBA Administrator Isabella Casillas Guzman, the highest-ranking Hispanic/Latina cabinet member, the SBA has implemented reforms to dismantle systemic barriers and empower entrepreneurship. These reforms include:

• Expanding access to affordable capital by reducing bureaucratic obstacles, ensuring that more rural and underserved communities can access flexible and affordable financing. Lack of creditworthiness often poses a challenge for many immigrant entrepreneurs. The SBA is strengthening its mission-based lending by increasing access to business financing and providing free counseling and education on capital management for owners with limited credit and assets. Assistance is readily available through over 900 nationwide SBA field offices and resource partners.
• Enhancing outreach to first-generation immigrant entrepreneurs, equipping them with the knowledge and skills to export products and services to their ancestral countries. By becoming global small businesses, immigrant entrepreneurs can boost their profitability and create local jobs by engaging with the 96% of consumers outside the United States.

I take great pride in working alongside my dedicated colleagues at the U.S. Small Business Administration, who are actively implementing initiatives to modernize the agency and expand access to resources for the nation’s 33 million small business owners. To learn more about how the SBA can assist you, I encourage you to contact the Indiana District Office at www.sba.gov/in. Explore their calendar of upcoming events for workshops and webinars, engage in online learning, access helpful guides in multiple languages, and connect with an SBA resource partner in your community for personalized mentorship and advice. The time has come for you to seize your share of the American entrepreneurial opportunity. Let the SBA guide you as you embark on your journey today.

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