SBA Administrator Guzman Travels to New Mexico for Military Community Entrepreneurship Summit

Administrator Guzman Delivers Opening Remarks, Highlighting Increased Capital for Veteran Entrepreneurs

LAS CRUCES, N.M. – On Tuesday, Dec. 3, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, traveled to Las Cruces, New Mexico, for the SBA’s Military Community Entrepreneurship Summit, highlighting the success of over 1.6 million veteran-owned small businesses in the United States. With a proud tradition of military service and military community entrepreneurship, New Mexico has more than 10,000 veteran-owned small businesses, which make up 7.6% of companies across the state.

 In the morning, Administrator Guzman delivered opening remarks at the summit, emphasizing the resilience and mission-focused veteran entrepreneurs that represent 5.5% of business owners across the United States. Administrator Guzman then participated in a coffee talk discussion with Debbi Moore, President and CEO of the Greater Las Cruces Chamber of Commerce, to hear directly from small business owners about their personal experiences as veteran entrepreneurs.

The SBA Military Community Entrepreneurship Summit curates a space for small business advising and local resources that are available to local service members, veterans, National Guard and Reserve members, and military spouses. The event featured breakout sessions on capital access, government contracting, entrepreneurship resources, and military spouses. With speakers from the SBA, U.S. Department of Agriculture, U.S. Department of Defense and many more, participants had the opportunity to network with a robust group of military and veteran entrepreneurs.

Under the Biden-Harris Administration, the country has seen more than 20 million new business applications nationwide – including over 114,000 in New Mexico alone. The SBA recently released new data showing it backed $1.3 billion in loans to veteran entrepreneurs in FY24.