A new brief from the Congressional Budget Office discusses the role of small businesses in the economy and how they’re affected by federal policy. The CBO cites the Small Business Administration as one example of how federal policy favors small businesses over larger businesses:
Assistance from the Small Business Administration (SBA), through loan guarantees that enable small firms to borrow at more attractive terms (for example, lower interest rates and fees) than they might otherwise obtain.
That’s the popular perception of the SBA’s loan guarantee programs, but I would argue that it’s inaccurate for two reasons:
See this Cato essay for more on why the Small Business Administration should be abolished.
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