evidence: WASHINGTON – Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), joined Congressman Steven Horsford at the 2023 Congressional Black Caucus Foundation’s Annual Legislative Conference today to announce new data showing the rate of SBA-backed loans going to Black-owned businesses has more than doubled under the Biden-Harris Administration. "Black businesses are helping to power a nationwide small business boom that is creating jobs, advancing equity in communities across America, and uplifting our economy," said Administrator Guzman. "Today’s benchmark loan numbers show our work under President Biden’s Investing in America agenda making inroads to support more of America’s Black small business owners. Despite these gains, we still have a long way to go. We continue to push forward with long overdue and transformational reforms to our lending and investment programs that will raise the bar of equity and opportunity even further for all of America’s small businesses." [...] Under the Biden-Harris Administration, the United States has experienced a historic small business boom being led by women and people of color, with 13.1 million new business applications filed since President Biden took office—a rate 65% faster than the pre-pandemic average.