What are SBAs Community Development Goals and Public Policy Goals?
• Improving, diversifying or stabilizing the economy of the locality • Stimulating other business development • Bringing new income into the community • Assisting manufacturing firms (Standard Industrial Classification Codes 20-49) • Assisting business in Labor Surplus Areas as defined by the Department of Labor Public Policy Goals: • Business District Revitalization: A project located within a business area of a community with a recognized revitalization or redevelopment plan. • Expansion of Exports: The business must derive a least 10% of its revenue from export sales at the time of the project or will be 10% of the business’s revenue as a result of the project. • Expansion of Minority Business Development: Loans to Minority-owned firms. The ownership by the minority must be 51% or more. • Rural Development: Projects located in rural counties or in a metropolitan area with a resident population of less than 20,000 and SBA has determined such area to be rural. • Enhanced Economic Comp
