History Of The Small Business Program

1382 Words Nov 23rd, 2015 6 Pages
This paper will cover the various topics: the history of the small business program, explain the small business set-aside program, assess the dollar threshold for small business contracts, the purpose of source selection evaluation plan, and ranking of criteria for the scenario. History of the Small Business Program
In 1932, President Hoover tried to mitigate the Great Depression by creating The Reconstruction Finance Corporation (RFC). The purpose of the RFC was to try to help businesses no matter what size large and small by providing federal funds. In 1942, Congress created the Smaller War Plants Corporation (SWPC) to help small businesses during World War II. Funds were provided for financial institutions to help give credit to struggling small business owners. When the war ended SWPC was liquidated but some of the authority went to the RFC such as lending and contract capacity. In the Korean War Congress created the Small Defense Plants Admiration (SDPA) which was like the SWPC but the RFC kept the lending approval. In 1952, President Eisenhower stated that he wanted a new small businesses agency which led the to the Small Business Administration. On July 30, 1953, Congress created a program called the United States Small Business Administration (SBA), which was an independent federal agency. The purpose of the program is to help small business obtain their fair share of government contracts and property by providing aid, information, and protection of small…
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