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Record loans for small businesses

POSTED: December 9, 2008 5:00 a.m.

WASHINGTON — Small businesses won a record $83.2 billion in federal prime contracts in FY07, an increase of almost $6 billion from 2006, according to the U.S. Small Business Administration’s annual small business procurement scorecard recently released.  In addition, each socio-economic group increased its share of federal contracting dollars by at least $1 billion.

The total does not include $3.9 billion worth of contracts for which size was not indicated in the federal government’s official database, the FPDS-NG. As a result, none of those dollars were counted toward small business achievement numbers.  Also not included was an additional $64.8 billion in federal subcontract dollars received by small businesses.

The federal government database shows that federal agencies awarded 22 percent of their contracting dollars to small businesses, just short of the 23 percent government-wide goal.  Achieving 22 percent, shy of the 23 percent goal, reflects the need for the federal government to bolster its efforts across government to secure contracting opportunities for small businesses. It also reflects SBA’s successful efforts to increase the accuracy and accountability of small business federal contracting.

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