Find out how the Small Business Administration can help you start your business

Mason Vera Paine

The Small Business Administration is an invaluable resource for those seeking to launch their own business; but many are unaware of how exactly it can help you. Region Five Administrator, Geri Sanchez Aglipay; gives insights on the Small Business Administration and how it can help you. For information about the services SBA provides, visit: SBA.govLike the SBA on Twitter at: Twitter.com/SBAgovLike and Follow on SBA on Facebook at: Facebook.com/SBAgov https://75dc83.p3cdn1.secureserver.net/wp-content/uploads/2023/07/12.-Geri-Sanchez-Aglipay-SBA.mp3 Mason Vera Paine and Geri Aglipay: SBA Transcription 00:00 – Announcer: Mason Vera Paine. 00:01 – Mason: When it comes to entrepreneurship, many people don't know what resources are available to them and how to utilize them. One of those resources is the Small Business Administration or the SBA. Joining me to speak about this organization is Region 5 Administrator Geri Sanchez Aglipay. Thank you for taking the time to speak with me, Geri. 00:19 - Geri Aglipay: Good to be here. Thank you for having me. 00:22 – Mason: So tell me, prior to joining the SBA, what did you do? 00:25 - Geri Aglipay: I was at a national nonprofit organization where I oversaw field work and policy work for small business and economic development for the Midwest region, but also nationwide for women's entrepreneurship as well. 00:40 – Mason: Wow. So this sounds like it's a passion for you. 00:43 - Geri Aglipay: Building wealth and addressing financial insecurity and increasing prosperity is something that is not only a professional interest, but it's a personal interest and passion as well. 00:54 – Mason: Was there anything in particular that led you to the SBA, though? 00:58 - Geri Aglipay: What led me to the SBA was they were long time colleagues of mine with the federal government. And for a number of years, I had seen what good government does with the SBA field offices. And that's who I've been most familiar with working with, the SBA district offices. And working with them, not only for on the ground work, doing outreach to women and those who are traditionally socio economically disadvantaged, so to speak, really gave me such high regard for my colleagues who I were working with alongside all these years. When the pandemic hit, it was the SBA that I turned to because they were the ones who actually were supporting those small business owners who weren't prepared with so many of the financial aid and pandemic relief. I turned to them and I said, Hey, the business owners need our help. Can we do more regular partnerships? W e actually worked together before I was at the SBA and did a lot of outreach about how to navigate the pandemic and how to survive it and what are the free, no cost resources so anybody can get help what they need. 2:05 – Mason: Now, it's funny about the SBA. I know that that is a program that anybody can join, but it wasn't very well known, I think, before the pandemic. Do you think during the pandemic there was more light shed on those programs? 2:17 - Geri Aglipay: Absolutely. I mean, the Small Business Administration as a federal agency has been around for 70 years since President Eisenhower established it. He established it because he knew, which many economists and now people know more since the SBA became well known during the pandemic, is that small businesses are the backbone of our economy. They are giants of economy as Minister Guzman says. They create two thirds of the job. They also are 40 % of our economic productivity. I think for the SBA, it may not have been as well known before, but after the pandemic, we were the only federal agency, well actually, lender in the world to provide relief to its borrowers where in six months, they did not have to pay the principal, the fees, or interest on their current loans. The SBA is there to establish the level of the field to make sure that people who wanted to be an entrepreneur and had a sm...