IFA Statement on Former Sen. Kelly Loeffler to Lead Small Business Administration
Georgia has become one of the nation’s fastest growing states for franchising, offering a roadmap to follow at the national level as a new day dawns at the SBA, whose loans and financing options are lifelines for many entrepreneurs
WASHINGTON – Today, the International Franchise Association (IFA) issued the following statement on President-elect Donald Trump naming former U.S. Sen. Kelly Loeffler (R-GA) to lead the Small Business Administration (SBA):
“A new day is dawning for the small business community, and Kelly Loeffler is the ideal person to cut through the red tape and allow the franchise model to thrive,” said Matt Haller, IFA president and CEO. “Senator Loeffler boasts an impressive resume in government and the private sector, and her home state of Georgia has become one of the nation’s leaders for franchise growth, offering a model to follow at the national level. We look forward to working alongside the new Administration to ensure SBA’s lending programs meet the needs of franchise business owners.”
An estimated 10% of all SBA loans go to franchises. According to IFA’s Franchising Economic Outlook, the franchise model is projected to increase by nearly two percent in 2024 to an approximate 821,589 establishments. Growth in the Southeast and Southwest is projected to outpace the rest of the U.S. franchise market in 2024. The top ten states for franchise growth include: Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, Maryland, Arizona, Colorado, and Virginia.
Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the approximately 806,270 franchise establishments that support nearly 8.7 million direct jobs, $858.5 billion of economic output for the U.S. economy, and almost 3 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.