If Frank Knapp Jr. has his way, the Biden administration will budget more money for small businesses and give out more loans to entrepreneurs in underserved communities. âThe SBA (Small Business Adminisrtation) is broken,â Knapp said when he visited the area as part of his nine-city, one-man tour, bringing his message to the attention of the public and media. âWeâre at a 40-year low in new business startups,â he said. âEconomists tell us that all net-new jobs in the nation are created by businesses less than five years old and that they have four or fewer employees.â Meanwhile, he cited the SBA Office of Advocacy which found the number of commercial banks declined from 14,400 to 4,600 since 1980, representing a 68% drop due to consolidations and failures.