August 20, 2024 • 19 mins
In this episode, John Hope Bryant has a conversation with SBA Administrator Isabella Guzman, who shares her insights and perspective on the pivotal role of entrepreneurship in driving America’s economic prosperity.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to Hope Global Forms, the Dialogue where we bring
exclusive conversations with extraordinary leaders directly to you. I'm your
Hope Essen Scant and you can find me on Instagram
at the Essence of Underscore. This podcast is powered by
Hope Global Forms, an initiative of Operation Hope Designs to inspire,
educate and empower you. Visit us at Hope Globalforms dot
(00:24):
org and follow us on social at Hope Global Form.
In today's episode, we have a conversation with SBA Administrator
Isabelle Guzman, twenty seventh Administrator of the Small Business Administration.
Speaker 2 (00:38):
Miss Guzman.
Speaker 3 (00:39):
Administrator Guzman since with the President of the United States
of America in his cabinet, and she represents you and
your interests, but she also shows up in your community
and is accessible. And even though she walks with a
light touch and she's very approachable, I don't want you
(01:00):
to get it twisted. It's one of the most powerful
women in the world. I mean, you're a perfect person.
Speaker 2 (01:06):
Of the job.
Speaker 4 (01:07):
Grew up mostly your Mexican American background, but you know
I have in Los Angeles, in Los Angeles, but I
have everything German ancestry from my mom like way back
Kleining in Mexico somehow, and then of course some Chinese
as well. We've discovered, you know, thanks to genetics advances.
Speaker 3 (01:24):
But yes, everything, And so you and I have come
together on several fronts, the Freeman's Bank being one front,
small business law becase I'm an entrepreneur in general. In fact,
Operation Hopes first legitimate funding source of funding. Our first budget,
(01:46):
people don't know, was a sixty one thousand dollars. Our
budget's like fifty four million dollars a year. Now we've
done three four billion dollars of capital through operat Show
into underserved neighbors with the largest we do in the country.
And arguably this meeting is the largest in the world
and goes on and goes on, thank you at four
hundred employees, you know, thirty thousand volunteers. But it started
(02:08):
with a sixty one thousand dollars grant seven j grant
from the US Small Business Administration. People ask me, John,
why are you so bipartisan? Beyond the fact that I
think that it's a radical movement of common sense to
work with everybody.
Speaker 2 (02:24):
Beyond that.
Speaker 3 (02:25):
Mayor Tom Bradley, who was a Democrat called then President
George H. W. Bush, who was the Republican, and while
the Republican was going on the way out of office
after the Roddy King riots, they cut a deal to
get me the last piece of money. They was sitting
at the SBA and said we don't have much. We
have sixty one thousand dollars and said I'll take it.
Speaker 4 (02:44):
That's what it takes sometimes, as every entrepreneur knows.
Speaker 3 (02:47):
And that's what started Operation Hope and most big business
a lot of big businesses and she can name them off,
also started with humble beginnings like that. So the seven
J program is an SBA program, So literally we owe
our history to the SBA.
Speaker 4 (03:02):
It's all about the American dream of business ownership right
just obviously there's a massive there's failure and with the
risk taking that we try to.
Speaker 5 (03:10):
Incentivize in this country.
Speaker 4 (03:12):
We are a startup nation because we encourage people with
great ideas to jump in and start their business. And
the SBA is the agency that focuses on trying to
increase those success outcomes, de risk the marketplace, and ensure
that our businesses can succeed by giving them the funding
that they need, whether that's through non deleted grants through
(03:32):
innovation research grants in our government or directly through investments
or through loans. We want to make sure that they
have the funding so they can create those jobs and
to expand their businesses and compete globally as a nation.
We need to focus on that. But it's also about
giving them the know how, the technical assistance, because it's
one thing to have all these great capital programs, but
(03:54):
it's getting businesses capital ready and connecting them to capital
so then know how knowledge networks. And then of course
the revenue growth opportunities, because the capital is one side,
but you've got to grow your revenues and that is
really a critical part where the SBA steps into connect
to federal contracting, to trade abroad, to local market digital
e commerce, and it's just a great opportunity for us
(04:16):
to make sure that the United States continues to lead
with its entrepreneurial rate so that it can innovate so
that we can create competition in this country and deliver
the products and services that everyone comes to depend on.
And there's just been an incredible history of the SBA
seventy years. But you know, Shabani, an immigrant entrepreneurs started
(04:37):
with an SBA five or four loan to buy his
manufacturing facility, you know Jenny's ice Cream or Full Circle Brewing,
the largest black brewer in the country is started with
an SBA loan, a small dollar loan. You know, we
have a Sweet Green. There's a Latino founder he's started.
He found a micro loan with his partners to start
Sweet Green. You know, just some incredible store worries. Our
(05:00):
Innovation Research Grounds has started the likes of Qualcomm or
I robots, some incredible advancements in our economy. And then
you know, of course we have our SBSC program, those
investments both debt and equity that we provide through our
partners on the ground.
Speaker 5 (05:17):
That's funded everything from Bildebert.
Speaker 4 (05:19):
Top Golf, Tesla, you know, Radio one and just in
a remarkable program. But it is about the revenue too,
and you know there are a couple of handfuls of
black billionaires. The second top billionaire started with an eight
A program R. This is government contracting and you know
worldwide technology, it infrastructure, providing the types of you know,
(05:43):
revenue growth opportunities that only the eight A government contacting
program can do. So really, it gives us great pride
to be able to have these remarkable programs at the
SBA to make sure that the American economy can continue
to grow.
Speaker 3 (05:58):
And people don't also realize again the full breadth of
the SBA. Whenever there's a disaster in this country, Congress
stipulates that the funding that a disaster goes through actually
the Small Business Administration. And if you're not financially literate,
(06:18):
you may ask yourself, you had a disaster you had, why.
Speaker 2 (06:22):
Am I calling the SBA? Why am I? I don't
know I have a small business.
Speaker 3 (06:27):
You end up walking away from all this resources that
may be available to you because you don't understand. You're
not financially literate, you don't understand how money works. You
have a stop to understand the process. But every disaster
in America, disaster, recovery, relief, long term comes you get
a couple grand from FEMA as a grant. Everything else,
(06:47):
as I understand it comes through.
Speaker 4 (06:49):
So we're an SBA is on the ground with FEMA
from day one in disasters. You know, I like to
say that it doesn't make sense to most people when
I say that we don't just fund small businesses, but
you know, we also do homeowner loans as well, so
they can read their homes and disaster renters so that
they can replace their car, their personal effects. But we
go in to make sure that not only the small
(07:11):
businesses can recover, but their employees, their customers, the whole.
Speaker 5 (07:14):
Community needs to recover.
Speaker 4 (07:16):
And the economic recovery support function of the federal government
and disasters is squarely within the SBA's portfolio, and so
we provide disaster loans. It's been over five billion dollars
in funding since the President took office to natural disasters,
any disruption around the country, including gun violence Monterey Park.
We supported those businesses that were impacted by the gun violence,
(07:38):
and so an incredible program. It's why you know, the
SBA is front and center in economic development. But we
want to make sure that our communities, especially in the
face of natural disasters and you know the changing effects
you to climate change, that communities can recover and small
businesses oftentimes don't plan for that disruption, and so to
(07:58):
be able to get our economic injury disaster loan or
physical disaster loan really makes a difference for communities.
Speaker 5 (08:05):
In this past year, we did nearly.
Speaker 4 (08:07):
A billion dollars in funding to help support I mean
obviously on the ground in Hawaii, you were there with us.
Thank you so much for your support really, you know,
making sure that we can provide you know, the financial
literacy as well as the as well as the support
to get people back on their feet. And it's not
just to get them back on their feet. But of
course I said, we do government contracting in Hawaii. For example,
(08:29):
we made sure that over two hundred million dollars in
contracts for Hawaii to recover for Maui to able to
go to small businesses so that they're part of the
rebuilding in Maui.
Speaker 3 (08:41):
So I'm about to give you some insight into the
real GUZMNK. So I'm in Maui because that's a place
that I would go every six months to renew myself.
Is the most remote land mass in the world, five
or six hours plane flight from the closest direction of
(09:03):
land mass, and I'd go there to reconnect with nature
and myself. It's a spiritual thing for me and to breathe.
And unfortunately, this disaster happened two days after I landed,
with the Maui devastating fires, and my heart was broken
(09:23):
by that.
Speaker 2 (09:25):
But it was renewed.
Speaker 3 (09:26):
When I got a call from you and you knew
I was there, you wanted to let me know you
were coming, and the Feenia administrator also was coming. You
had hitched a ride, as I understand, so it was
her mission, but you wanted to go to support her,
and I wanted to meet you when you were there,
(09:51):
But I wasn't part of your official program. And you
made sure that people there knew about our work, Governor,
and everybody else knew about were the senators, And you
made sure that I was in the flow. We were
in the flow of conversation. You cooked me up with
your aids and made sure we were part of all
that discussion. Now that may now sound extraordinary to you,
(10:15):
but now I want you to think about this. She
wasn't concerned about herself because she was going with the disaster.
Speaker 2 (10:25):
It just struck.
Speaker 3 (10:26):
So everybody's focused on the FEMA administrator, who's a very
nice person, that focused on her, as they rightly should.
I don't know anybody other CABINT member who could have
done this of any PRESIDENTSIP administration. She was invisible the
entire time she was there. That people in Hawaii who
had never dealt with a disaster like this before, did
(10:47):
not know who the administrator for the SBA was, I
say this respectfully, and did not know how important her
function was. And she did not have enough cure ego
to demand that they know. She was comfortable in her
own skin. She was able to do a job, and
the job was to serve people, to support the administrator,
(11:10):
her friend, to support the governor and the US senator,
support the Biden administration, to support the vice president, to
support the citizens, and to support me and the last
And so she's got me, she's introducing me, she's making
sure I'm plugged in. But we had to actually like
work to get her in the press conference and she's like, no, no, no,
I'm good.
Speaker 2 (11:29):
They were trying.
Speaker 3 (11:30):
They were almost walked around her because she is so
humble that this lady who was a member of the
president's cabinet was basically being you know, carved around because
they did not understand her role, and she didn't force
it on them. She felt no need to. Why when
you got the power, you don't need to use it.
(11:52):
We've never had this conversation, but I thought that was
so well, it's just very authentic of you. That's just
who you are. I mean, you didn't have you weren't
you weren't sour around you, you were completely fine.
Speaker 4 (12:04):
I mean Senator Harno, who's on the Small Business Committee.
So it was fortuitous, Uh, you know, wanted to make
sure that I was on the ground. She knew that
my time would come later when economic development. Right now,
you're still searching for survivors. I mean, this was a
devastating time. No time to talk about rebuilding or SBA
disaster assistance and so but it was important for me
(12:24):
to get on the ground and understand the gravity of
the situation and you know, tell people on the ground
that the President's committed to making sure that we're there
in the long term and that we're there to support
them so that those fears could just be put aside
as as the community heals.
Speaker 5 (12:41):
And so that's what the SBA does.
Speaker 4 (12:42):
And you know, it's it's a there's it's just such
a powerful platform and I have a lot of passion
for it. But it's impacting communities around the country. And
as you know, you know, financial literacy access to capital
is such a strong topic that you and I like
to talk about, but we've really you know, This is
something that I'm so proud of in the administration is that,
you know, President Biden and Vice President Harrison from day
(13:03):
one focused on access to capital for our small businesses,
and we've made significant reforms across our program. You know,
I knew exactly what I wanted to do to expand
small dollar lending, to increase access for all of our communities.
I want the distribution networks to be broader, the check
writers to look like the businesses that are started at
(13:24):
the fastest race right right now in our economy, and
I want to make.
Speaker 5 (13:28):
Sure that they're simple, accessible, that.
Speaker 4 (13:30):
They meet the needs of businesses today. Expanded eligibility, simplified underwriting.
Speaker 5 (13:36):
So that we can really reach all of our businesses.
Speaker 4 (13:39):
And I'm proud to say that, you know, since our
reforms and in the past two years of Biden Harris administration,
over two years, we've seen a doubling of lending to
black entrepreneurs in this country to one point five billion
dollars last year. That's just the capital, access to capital,
and and that is transformative. I mean, the SPA has
(14:00):
had this stubborn inability to make reforms over four decades,
but we are broadening our distribution networks to new types
of lenders, recognizing that black borrowers go straight online more
likely than going into a bank.
Speaker 5 (14:14):
You know, we know that in order for us.
Speaker 4 (14:17):
To really fund and secure our economic future, everything for
making sure we innovate in national defense, to create the
best new food products on the shelves, you know, we
need to fund all of our great entrepreneurs. And so
this is an administration that really cares about communities, that
wants to make sure that we all can succeed. As
the President makes these historic investments in America, you know,
(14:40):
from infrastructure, to the clean energy economy, to manufacturing and
making in America, and that is to his resolve, you know,
our efforts across the whole of government to deliver and
for us, it's access to capital. And I know those
reforms in lending have also been translated to our reforms investments,
and we are right now accepting massive amounts of interest
(15:04):
and new applications and our investment vehicles so that we
can fund the next radio one and we can make
sure that these future A day contractors get the money
that they need to grow and.
Speaker 5 (15:15):
Scale as large as WWT I.
Speaker 4 (15:18):
We really, you know, it's over a fourteen billion dollar
global phenomenon. Now you know from a little late day
growing up in and federal government contracting. So this is
the power of our platforms. And really, as the Biden
Harris administration invests in all our communities so that the
economy can grow, the SBA's making sure that we do
(15:39):
it with small businesses in mind.
Speaker 3 (15:41):
I want to say we're out of time, but I
have a special announcement to make about you for two reasons. One,
for the first time since two thousand and four, I
mean this country is going to be successful with our
business startups. As you said, we got not just cash checks.
(16:04):
We've got to have more people who write checks, small
business owners, entrepreneurs at scale. And I've said that there
needed to be a small business revolution in this country.
That's the easiest way to get people from the streets
to the suites.
Speaker 2 (16:19):
Because even if.
Speaker 3 (16:20):
You have some kind of a record or some kind
of a blemish on your public report in life, you
can you can reinvent yourself as a small business owner
and there's no tax on that, and you under your leadership.
Since two thousand and four, Americans have had more small
(16:40):
business startups than any time since two thousand and four
post pandemic. The largest group of small businesses starting up
of all businesses are black businesses.
Speaker 2 (16:55):
Yeah, except we've.
Speaker 4 (16:56):
Seen fourteen point sixty million new business applications and black
the largest.
Speaker 3 (17:00):
Business, the largest category amongst all categories are black women.
But that's not why I'm gonna give you this award.
I'm gonna give you this award because I've known nine
(17:24):
US presidents. We've been recognized by five US presidents from
both parties. As a result of that, I've dealt with
countless cabinet members, countless SBA, a number of SBA administrators.
You came here as you came to South Central l
as you came to Atlanta, as you came to Mali,
(17:46):
with a security detail because you're a member of the
president's cabinet. You walk with a light touch, but don't
touch her too fast. Make it laid out. If you're
in here today, understand you've been scanned, You've been screening.
Speaker 2 (18:01):
Yeah, I hope you don't have a warrant.
Speaker 3 (18:04):
They know about it because wherever she goes, the team,
the secret service team is making sure she's okay, but
you never know it from her because she is literally
not only the most effective SBA administrator. I'm gonna upset
a couple of my friends when say this, but it's
the truth. She's the most effective SBA administrator I have
(18:25):
ever worked with in thirty one years.
Speaker 2 (18:28):
But she's also the nicest.
Speaker 3 (18:33):
Suit that's very kind, and so for that reason, Isabelle
Guzman Administrator for the SBA. Recognition of your dedication to
ensuring that every American has the opportunity to pursue their
small business dreams and contribute to the success of the
world's most dynamic economy, we present you with the Hopes
(18:53):
Chairman's Award for twenty twenty three.
Speaker 1 (18:58):
Thanks for listening, Hope Global Forms the dialogue. We hope
today's episode has inspired you. Keep the conversation going by
visiting hopeglobalforms dot org and follow us on social at
Hope Global Forum. You can find me sen Scant on
Instagram at the Essence of Underscort. Join us next time
for more insights from leaders who are shaping a better world.
Welcome to Hope Global Forms, the Dialogue where we bring
exclusive conversations with extraordinary leaders directly to you. I'm your
Hope Essen Scant and you can find me on Instagram
at the Essence of Underscore. This podcast is powered by
Hope Global Forms, an initiative of Operation Hope Designs to inspire,
educate and empower you. Visit us at Hope Globalforms dot
(00:24):
org and follow us on social at Hope Global Form.
In today's episode, we have a conversation with SBA Administrator
Isabelle Guzman, twenty seventh Administrator of the Small Business Administration.
Speaker 2 (00:38):
Miss Guzman.
Speaker 3 (00:39):
Administrator Guzman since with the President of the United States
of America in his cabinet, and she represents you and
your interests, but she also shows up in your community
and is accessible. And even though she walks with a
light touch and she's very approachable, I don't want you
(01:00):
to get it twisted. It's one of the most powerful
women in the world. I mean, you're a perfect person.
Speaker 2 (01:06):
Of the job.
Speaker 4 (01:07):
Grew up mostly your Mexican American background, but you know
I have in Los Angeles, in Los Angeles, but I
have everything German ancestry from my mom like way back
Kleining in Mexico somehow, and then of course some Chinese
as well. We've discovered, you know, thanks to genetics advances.
Speaker 3 (01:24):
But yes, everything, And so you and I have come
together on several fronts, the Freeman's Bank being one front,
small business law becase I'm an entrepreneur in general. In fact,
Operation Hopes first legitimate funding source of funding. Our first budget,
(01:46):
people don't know, was a sixty one thousand dollars. Our
budget's like fifty four million dollars a year. Now we've
done three four billion dollars of capital through operat Show
into underserved neighbors with the largest we do in the country.
And arguably this meeting is the largest in the world
and goes on and goes on, thank you at four
hundred employees, you know, thirty thousand volunteers. But it started
(02:08):
with a sixty one thousand dollars grant seven j grant
from the US Small Business Administration. People ask me, John,
why are you so bipartisan? Beyond the fact that I
think that it's a radical movement of common sense to
work with everybody.
Speaker 2 (02:24):
Beyond that.
Speaker 3 (02:25):
Mayor Tom Bradley, who was a Democrat called then President
George H. W. Bush, who was the Republican, and while
the Republican was going on the way out of office
after the Roddy King riots, they cut a deal to
get me the last piece of money. They was sitting
at the SBA and said we don't have much. We
have sixty one thousand dollars and said I'll take it.
Speaker 4 (02:44):
That's what it takes sometimes, as every entrepreneur knows.
Speaker 3 (02:47):
And that's what started Operation Hope and most big business
a lot of big businesses and she can name them off,
also started with humble beginnings like that. So the seven
J program is an SBA program, So literally we owe
our history to the SBA.
Speaker 4 (03:02):
It's all about the American dream of business ownership right
just obviously there's a massive there's failure and with the
risk taking that we try to.
Speaker 5 (03:10):
Incentivize in this country.
Speaker 4 (03:12):
We are a startup nation because we encourage people with
great ideas to jump in and start their business. And
the SBA is the agency that focuses on trying to
increase those success outcomes, de risk the marketplace, and ensure
that our businesses can succeed by giving them the funding
that they need, whether that's through non deleted grants through
(03:32):
innovation research grants in our government or directly through investments
or through loans. We want to make sure that they
have the funding so they can create those jobs and
to expand their businesses and compete globally as a nation.
We need to focus on that. But it's also about
giving them the know how, the technical assistance, because it's
one thing to have all these great capital programs, but
(03:54):
it's getting businesses capital ready and connecting them to capital
so then know how knowledge networks. And then of course
the revenue growth opportunities, because the capital is one side,
but you've got to grow your revenues and that is
really a critical part where the SBA steps into connect
to federal contracting, to trade abroad, to local market digital
e commerce, and it's just a great opportunity for us
(04:16):
to make sure that the United States continues to lead
with its entrepreneurial rate so that it can innovate so
that we can create competition in this country and deliver
the products and services that everyone comes to depend on.
And there's just been an incredible history of the SBA
seventy years. But you know, Shabani, an immigrant entrepreneurs started
(04:37):
with an SBA five or four loan to buy his
manufacturing facility, you know Jenny's ice Cream or Full Circle Brewing,
the largest black brewer in the country is started with
an SBA loan, a small dollar loan. You know, we
have a Sweet Green. There's a Latino founder he's started.
He found a micro loan with his partners to start
Sweet Green. You know, just some incredible store worries. Our
(05:00):
Innovation Research Grounds has started the likes of Qualcomm or
I robots, some incredible advancements in our economy. And then
you know, of course we have our SBSC program, those
investments both debt and equity that we provide through our
partners on the ground.
Speaker 5 (05:17):
That's funded everything from Bildebert.
Speaker 4 (05:19):
Top Golf, Tesla, you know, Radio one and just in
a remarkable program. But it is about the revenue too,
and you know there are a couple of handfuls of
black billionaires. The second top billionaire started with an eight
A program R. This is government contracting and you know
worldwide technology, it infrastructure, providing the types of you know,
(05:43):
revenue growth opportunities that only the eight A government contacting
program can do. So really, it gives us great pride
to be able to have these remarkable programs at the
SBA to make sure that the American economy can continue
to grow.
Speaker 3 (05:58):
And people don't also realize again the full breadth of
the SBA. Whenever there's a disaster in this country, Congress
stipulates that the funding that a disaster goes through actually
the Small Business Administration. And if you're not financially literate,
(06:18):
you may ask yourself, you had a disaster you had, why.
Speaker 2 (06:22):
Am I calling the SBA? Why am I? I don't
know I have a small business.
Speaker 3 (06:27):
You end up walking away from all this resources that
may be available to you because you don't understand. You're
not financially literate, you don't understand how money works. You
have a stop to understand the process. But every disaster
in America, disaster, recovery, relief, long term comes you get
a couple grand from FEMA as a grant. Everything else,
(06:47):
as I understand it comes through.
Speaker 4 (06:49):
So we're an SBA is on the ground with FEMA
from day one in disasters. You know, I like to
say that it doesn't make sense to most people when
I say that we don't just fund small businesses, but
you know, we also do homeowner loans as well, so
they can read their homes and disaster renters so that
they can replace their car, their personal effects. But we
go in to make sure that not only the small
(07:11):
businesses can recover, but their employees, their customers, the whole.
Speaker 5 (07:14):
Community needs to recover.
Speaker 4 (07:16):
And the economic recovery support function of the federal government
and disasters is squarely within the SBA's portfolio, and so
we provide disaster loans. It's been over five billion dollars
in funding since the President took office to natural disasters,
any disruption around the country, including gun violence Monterey Park.
We supported those businesses that were impacted by the gun violence,
(07:38):
and so an incredible program. It's why you know, the
SBA is front and center in economic development. But we
want to make sure that our communities, especially in the
face of natural disasters and you know the changing effects
you to climate change, that communities can recover and small
businesses oftentimes don't plan for that disruption, and so to
(07:58):
be able to get our economic injury disaster loan or
physical disaster loan really makes a difference for communities.
Speaker 5 (08:05):
In this past year, we did nearly.
Speaker 4 (08:07):
A billion dollars in funding to help support I mean
obviously on the ground in Hawaii, you were there with us.
Thank you so much for your support really, you know,
making sure that we can provide you know, the financial
literacy as well as the as well as the support
to get people back on their feet. And it's not
just to get them back on their feet. But of
course I said, we do government contracting in Hawaii. For example,
(08:29):
we made sure that over two hundred million dollars in
contracts for Hawaii to recover for Maui to able to
go to small businesses so that they're part of the
rebuilding in Maui.
Speaker 3 (08:41):
So I'm about to give you some insight into the
real GUZMNK. So I'm in Maui because that's a place
that I would go every six months to renew myself.
Is the most remote land mass in the world, five
or six hours plane flight from the closest direction of
(09:03):
land mass, and I'd go there to reconnect with nature
and myself. It's a spiritual thing for me and to breathe.
And unfortunately, this disaster happened two days after I landed,
with the Maui devastating fires, and my heart was broken
(09:23):
by that.
Speaker 2 (09:25):
But it was renewed.
Speaker 3 (09:26):
When I got a call from you and you knew
I was there, you wanted to let me know you
were coming, and the Feenia administrator also was coming. You
had hitched a ride, as I understand, so it was
her mission, but you wanted to go to support her,
and I wanted to meet you when you were there,
(09:51):
But I wasn't part of your official program. And you
made sure that people there knew about our work, Governor,
and everybody else knew about were the senators, And you
made sure that I was in the flow. We were
in the flow of conversation. You cooked me up with
your aids and made sure we were part of all
that discussion. Now that may now sound extraordinary to you,
(10:15):
but now I want you to think about this. She
wasn't concerned about herself because she was going with the disaster.
Speaker 2 (10:25):
It just struck.
Speaker 3 (10:26):
So everybody's focused on the FEMA administrator, who's a very
nice person, that focused on her, as they rightly should.
I don't know anybody other CABINT member who could have
done this of any PRESIDENTSIP administration. She was invisible the
entire time she was there. That people in Hawaii who
had never dealt with a disaster like this before, did
(10:47):
not know who the administrator for the SBA was, I
say this respectfully, and did not know how important her
function was. And she did not have enough cure ego
to demand that they know. She was comfortable in her
own skin. She was able to do a job, and
the job was to serve people, to support the administrator,
(11:10):
her friend, to support the governor and the US senator,
support the Biden administration, to support the vice president, to
support the citizens, and to support me and the last
And so she's got me, she's introducing me, she's making
sure I'm plugged in. But we had to actually like
work to get her in the press conference and she's like, no, no, no,
I'm good.
Speaker 2 (11:29):
They were trying.
Speaker 3 (11:30):
They were almost walked around her because she is so
humble that this lady who was a member of the
president's cabinet was basically being you know, carved around because
they did not understand her role, and she didn't force
it on them. She felt no need to. Why when
you got the power, you don't need to use it.
(11:52):
We've never had this conversation, but I thought that was
so well, it's just very authentic of you. That's just
who you are. I mean, you didn't have you weren't
you weren't sour around you, you were completely fine.
Speaker 4 (12:04):
I mean Senator Harno, who's on the Small Business Committee.
So it was fortuitous, Uh, you know, wanted to make
sure that I was on the ground. She knew that
my time would come later when economic development. Right now,
you're still searching for survivors. I mean, this was a
devastating time. No time to talk about rebuilding or SBA
disaster assistance and so but it was important for me
(12:24):
to get on the ground and understand the gravity of
the situation and you know, tell people on the ground
that the President's committed to making sure that we're there
in the long term and that we're there to support
them so that those fears could just be put aside
as as the community heals.
Speaker 5 (12:41):
And so that's what the SBA does.
Speaker 4 (12:42):
And you know, it's it's a there's it's just such
a powerful platform and I have a lot of passion
for it. But it's impacting communities around the country. And
as you know, you know, financial literacy access to capital
is such a strong topic that you and I like
to talk about, but we've really you know, This is
something that I'm so proud of in the administration is that,
you know, President Biden and Vice President Harrison from day
(13:03):
one focused on access to capital for our small businesses,
and we've made significant reforms across our program. You know,
I knew exactly what I wanted to do to expand
small dollar lending, to increase access for all of our communities.
I want the distribution networks to be broader, the check
writers to look like the businesses that are started at
(13:24):
the fastest race right right now in our economy, and
I want to make.
Speaker 5 (13:28):
Sure that they're simple, accessible, that.
Speaker 4 (13:30):
They meet the needs of businesses today. Expanded eligibility, simplified underwriting.
Speaker 5 (13:36):
So that we can really reach all of our businesses.
Speaker 4 (13:39):
And I'm proud to say that, you know, since our
reforms and in the past two years of Biden Harris administration,
over two years, we've seen a doubling of lending to
black entrepreneurs in this country to one point five billion
dollars last year. That's just the capital, access to capital,
and and that is transformative. I mean, the SPA has
(14:00):
had this stubborn inability to make reforms over four decades,
but we are broadening our distribution networks to new types
of lenders, recognizing that black borrowers go straight online more
likely than going into a bank.
Speaker 5 (14:14):
You know, we know that in order for us.
Speaker 4 (14:17):
To really fund and secure our economic future, everything for
making sure we innovate in national defense, to create the
best new food products on the shelves, you know, we
need to fund all of our great entrepreneurs. And so
this is an administration that really cares about communities, that
wants to make sure that we all can succeed. As
the President makes these historic investments in America, you know,
(14:40):
from infrastructure, to the clean energy economy, to manufacturing and
making in America, and that is to his resolve, you know,
our efforts across the whole of government to deliver and
for us, it's access to capital. And I know those
reforms in lending have also been translated to our reforms investments,
and we are right now accepting massive amounts of interest
(15:04):
and new applications and our investment vehicles so that we
can fund the next radio one and we can make
sure that these future A day contractors get the money
that they need to grow and.
Speaker 5 (15:15):
Scale as large as WWT I.
Speaker 4 (15:18):
We really, you know, it's over a fourteen billion dollar
global phenomenon. Now you know from a little late day
growing up in and federal government contracting. So this is
the power of our platforms. And really, as the Biden
Harris administration invests in all our communities so that the
economy can grow, the SBA's making sure that we do
(15:39):
it with small businesses in mind.
Speaker 3 (15:41):
I want to say we're out of time, but I
have a special announcement to make about you for two reasons. One,
for the first time since two thousand and four, I
mean this country is going to be successful with our
business startups. As you said, we got not just cash checks.
(16:04):
We've got to have more people who write checks, small
business owners, entrepreneurs at scale. And I've said that there
needed to be a small business revolution in this country.
That's the easiest way to get people from the streets
to the suites.
Speaker 2 (16:19):
Because even if.
Speaker 3 (16:20):
You have some kind of a record or some kind
of a blemish on your public report in life, you
can you can reinvent yourself as a small business owner
and there's no tax on that, and you under your leadership.
Since two thousand and four, Americans have had more small
(16:40):
business startups than any time since two thousand and four
post pandemic. The largest group of small businesses starting up
of all businesses are black businesses.
Speaker 2 (16:55):
Yeah, except we've.
Speaker 4 (16:56):
Seen fourteen point sixty million new business applications and black
the largest.
Speaker 3 (17:00):
Business, the largest category amongst all categories are black women.
But that's not why I'm gonna give you this award.
I'm gonna give you this award because I've known nine
(17:24):
US presidents. We've been recognized by five US presidents from
both parties. As a result of that, I've dealt with
countless cabinet members, countless SBA, a number of SBA administrators.
You came here as you came to South Central l
as you came to Atlanta, as you came to Mali,
(17:46):
with a security detail because you're a member of the
president's cabinet. You walk with a light touch, but don't
touch her too fast. Make it laid out. If you're
in here today, understand you've been scanned, You've been screening.
Speaker 2 (18:01):
Yeah, I hope you don't have a warrant.
Speaker 3 (18:04):
They know about it because wherever she goes, the team,
the secret service team is making sure she's okay, but
you never know it from her because she is literally
not only the most effective SBA administrator. I'm gonna upset
a couple of my friends when say this, but it's
the truth. She's the most effective SBA administrator I have
(18:25):
ever worked with in thirty one years.
Speaker 2 (18:28):
But she's also the nicest.
Speaker 3 (18:33):
Suit that's very kind, and so for that reason, Isabelle
Guzman Administrator for the SBA. Recognition of your dedication to
ensuring that every American has the opportunity to pursue their
small business dreams and contribute to the success of the
world's most dynamic economy, we present you with the Hopes
(18:53):
Chairman's Award for twenty twenty three.
Speaker 1 (18:58):
Thanks for listening, Hope Global Forms the dialogue. We hope
today's episode has inspired you. Keep the conversation going by
visiting hopeglobalforms dot org and follow us on social at
Hope Global Forum. You can find me sen Scant on
Instagram at the Essence of Underscort. Join us next time
for more insights from leaders who are shaping a better world.
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