As March Madness gets into full swing this week, Goldman Sachs 10,000 Small Business Voices has sponsored a new, national name, image, and likeness (NIL) ad that calls for the modernization of the Small Business Administration (SBA).
The ad, which is believed to be the first time NIL advertising has been used to advocate for federal policy, stars University of Iowa women’s basketball player Caitlin Clark and University of North Carolina men’s basketball player Caleb Love, who are both 21 years old and were born after the last time the SBA was reauthorized.
“Caitlin and Caleb might be best known for their work on the court, but in this fun ad they are showing Americans that reauthorizing the Small Business Administration should be a layup for Congress,” said Joe Wall, national director of Goldman Sachs 10,000 Small Business Voices. “We’re grateful that Caitlin and Caleb are joining our full-court press to modernize the SBA.”
Also featured in the ad is Iman McFarland, a former women’s college basketball player, owner of 21st Century Expo Group in Maryland, and a 10,000 Small Businesses program alum.
“It’s been more than 20 years since Congress reauthorized the Small Business Administration,” said McFarland. “In the time since, the challenges facing small businesses have grown and evolved. It’s past time for Congress to modernize the Small Business Administration so that federal programs and services are tailored to meet the needs of today’s small business community.”
The launch of the ad coincides with the release of a new report this week by 10,000 Small Businesses Voices, in partnership with the Bipartisan Policy Center, that they say offers a blueprint to modernize the SBA to better serve today’s small businesses more effectively.
The report offers policy recommendations to improve equitable access to capital, increase government contracting opportunities, and modernize entrepreneurial development resources.
In a statement to NJBIZ, the SBA responded to the advertisement.
“Congress has repeatedly demonstrated, in bipartisan fashion, its willingness to reimagine the role of the SBA through the creation of landmark relief programs. Further, under Administrator Isabella Guzman, the SBA continued to modernize its offerings by retooling its products, streamlining processes, and bolstering services to empower our small businesses at every stage of their entrepreneurial journey,” the SBA told NJBIZ. “All of this is being accomplished without reauthorization.
“The SBA’s dedicated team has worked tirelessly to meet the needs of our millions of customers and will continue to do so. The SBA stands ready to help all entrepreneurs take advantage of any future appropriated funds. We appreciate the urgency with which our allies in the small business community and other advocates fight for the needs of all entrepreneurs,” the statement concluded.
You can view the ad here.