SBA Awards Nearly $3M in Grants to Help Arkansas, Maryland, and South Dakota Entrepreneurs Combat Rise in Cyberattacks and Threats 

WASHINGTON, Aug. 23, 2022 /PRNewswire/ -- Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America's 33 million small businesses in President Biden's Cabinet, announced nearly $3 million in new funding for three state delegates to help emerging small businesses develop their cybersecurity infrastructure. Arkansas, Maryland, and South Dakota representatives are receiving grants that will help deliver cybersecurity assistance to nascent and startup business owners as part of the SBA's Cybersecurity for Small Business Pilot Program.

"Cybersecurity is increasingly critical for small businesses and startups as they face rising challenges and cyber risks that could disrupt their operations. As we seek to build a stronger and more inclusive entrepreneurial ecosystem, we must innovate and provide resources to meet the growing, evolving needs of our diverse small businesses. With this new funding opportunity, the SBA is leveraging the strengths across our state governments, territories, and tribal governments to provide services to help small businesses get cyber ready and, in the process, fortify our nation's supply chains," said SBA Administrator Guzman.

Awarded States and Institutions are: 
Arkansas – Forge Institute – $999,650.66  
Maryland – Department of Commerce – $930,155.00  
South Dakota – Dakota State University – $999,933.00  

"This pilot program catalyzes our efforts to help small businesses combat cybersecurity threats," said SBA Associate Administrator for the Office of Entrepreneurial Development Mark Madrid. "These grants empower state governments to innovate, develop new resources, and scale solutions to protect more small businesses from harmful cyberattacks."

About the Cybersecurity for Small Business Pilot Program

Cyberattacks are a growing threat to small businesses and the U.S. economy. According to the FBI's Internet Crime Report, the cost of cybercrimes against the small business community reached $2.4 billion in 2021.

Small businesses are attractive targets because they have information that cybercriminals want, and they typically lack the security infrastructure of larger businesses.

According to an SBA survey, 88% of small business owners felt their business was vulnerable to a cyberattack. Yet many businesses can't afford professional IT solutions, have limited time to devote to cybersecurity, or don't know where to begin.

The Federal budget for the Cybersecurity for Small Business Pilot Program for 2021-2022 is $3,000,000. SBA awarded three awards, with no single award exceeding $1 million. The period of performance for this award is one-year (12 months).

To learn more about SBA's programs and services related to cybersecurity, visit  www.sba.gov/cybersecurity.

To find additional SBA local resources, visit www.sba.gov/local-assistance.

About the U.S. Small Business Administration 
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.­ 

Contact: press_office@sba.gov, www.sba.gov/news

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Release Number: 22-66  

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SOURCE U.S. Small Business Administration