Main Street Monday – SBA Releases Fiscal Year 2023 Budget Proposal

March 28, 2021

Delaney Sexton
Contributing Editor

Main Street Monday – SBA Releases Fiscal Year 2023 Budget Proposal

The Small Business Administration released its largest proposed budget in the agency’s history, increasing the overall funding authority by $9.5 billion across the SBA lending programs. The proposed budget would have a zero-subsidy and be fully supported by fees taken in by the SBA. Special thanks to John Reosti from American Banker for providing the details of SBA’s proposed Fiscal Year 2023 budget.

Here is the proposed budget for individual SBA programs:

SBA 7(a) Program – $35 Billion, $5 Billion increase

SBA 504 Program – $9 Billion, $1.5 Billion increase

SBA 504 Refinance Program – $7.5 Billion, No increase

SBIC Program – $5 Billion, $1 Billion increase

Secondary Market Guarantee Program – $15 Billion, $2 Billion increase

The budget also includes a $150 million increase in discretionary spending for the SBA.