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SBA Launches Onshoring PortalThe United States Small Business Administration (SBA) recently announced the launch of a new onshoring portal called the "Make Onshoring Great Again Portal." It’s described as a free tool to help small businesses identify U.S. manufacturers and producers. It features over a million American suppliers, and job creators can find those to support their businesses. The portal will also support American jobs, reconnect the supply chain with the U.S.-based production, and "end our nation’s concentrated dependence on foreign suppliers and adversaries like the Chinese Communist Party." according to the SBA. SBA Administrator Kelly Loeffler commented, “The SBA is proud to support President Donald J. Trump’s mission to restore America’s economic resurgence by empowering small businesses with the resources to supercharge the return of Made in America. The Make Onshoring Great Again Portal will give job creators a direct line to more than one million domestic suppliers replacing foreign dependence with access to American-made solutions. It’s a decisive step toward rebuilding our nation’s strength through stronger supply chains, better products, and a renewed commitment to American industry, small business, and workers.” Hon. Kelly Loeffler, SBA Administrator Several private-sector cosponsors are providing public access to three free databases representing over a million manufacturers, producers, and suppliers based in the United States. Cosponsors include:
"Not only will the portal enable small businesses to support American industry and workers it will also benefit job creators by helping them source domestic supply chains that will deliver shortened lead times, improved quality control, and reduced exposure to overseas disruptions," the Administration said in a press release. The portal expands on the SBA’s Made in America Manufacturing initiative announced earlier this year and is geared toward expanding access to capital for manufacturers here in the U.S., while promoting a skilled workforce, and, according to the Administration, cutting $100 billion in red tape. The SBA has also endorsed legislation to double its loan cap for small manufacturers. Read other business articles |