FTF: The SBA and Common Core

Common Core and the SBA:

For this “From the File” Tuesday, I have a ‘hum-dinger’ for you. The SBA (as in the ‘Small Business Administration’) has been supporting Common Core. How do I know? A Oct. 2014 National Summit.

The Summit:

Titled the “National Summit of Middle Market Funds” (see: https://www.sba.gov/content/national-summit-middle-market-funds), Maria Contreras-Sweet (the SBA’s administrator) addressed those in attendance how the SBIC (Small Business Investment Company) has been giving us ‘common sense financial reform’.

Refer the the above website for the entire speech text. *Note: while the speech does spell out what SBIC/SBIA stands for, I looked them up for you. I hope you learned something new. I sure did. I had no clue the SBA had a ‘alliance’. But, hey, how much else have we learned in fighting CC that ties one group to yet another.

Okay, so where’s the Common Core? Wait for it…it’s coming.

First, however:
SBICs have helped Apple, Hewlett-Packard, Intel, and others with over $67 billion dollars. Did you catch those names? There are others, too.

Here’s HP’s Common Core support proof: http://h20195.www2.hp.com/V2/getpdf.aspx/4AA5-3577ENUC.pdf?ver=2.0

Here’s Apple’s Common Core support proof:
https://www.apple.com/education/docs/Curriculum_Assessment_Teaching_Tools_for_iPad_8-14.pdf

Intel’s Common Core support proof, an excerpt from “Education Week”.
“Carlos Contreras, the director of U.S. education for tech giant Intel, said his company has been discussing the importance of the common core at forums for its employees, with the idea that those workers will become ambassadors for the standards.” (see: http://blogs.edweek.org/edweek/marketplacek12/2013/09/business_execs_fight_for_common_core_before_its_too_late.html)

So, is that all the CC/SBA proof you’ve got, Lynne? Not by a long shot, folks!

SBA funding venture capitalists:

Maybe not a secret, but many VCs (venture capitalists) are those P3s (Public Private Partnerships) which we’ve seen run amuck with Common Core. I’m not saying every VC or P3, but I think you know the ones I’m referring to. Here’s what the SBA Admin. said, “Many of the first venture capital funds in the United States were SBICs. This program is one of the most successful private-public partnerships in existence. I always tell people SBICs are the best deal on the market. We provide the capital you need to employ your investment strategy, but we don’t take any carry, so you can reap the full benefits from your investments.” 

Why this type of thing is a BIG deal for those fighting Common Core:
In case you weren’t following me ‘way back when’, here’s what I uncovered about some of those venture capitalists dreams for education. Again, I have no clue if the ones I discovered are ones which have benefited from the SBA’s foray into VCs, but consider this truth, no matter the source, there are VCs out there intent on reforming education. See:
https://www.commoncorediva.com/2014/09/16/from-the-files-tuesday-down-in-the-valley/

SBA’s funding the Core activities:

Thanks to the speech’s text, you can find many nuggets in what was stated. For example, the 2011 Impact Fund, which has recently been extended beyond it’s original stop date of fiscal year 2016. Where’s the money going? Here’s an excerpt, “The SBA launched our Impact Fund in 2011 as a five-year pilot to support President Obama’s vision of a more inclusive and sustainable economy. The Fund was set to expire at the end of FY2016. Last month, we announced plans to continue and expand this fund as vital and ongoing part of our SBIC portfolio. What we’re focused on with this fund is investments in underserved areas, and we want to work with fund managers with expertise in clean energy, education, and advanced manufacturing. We know you’re all investing in a competitive environment, and it can be challenging to find the right business to differentiate yourself. Our goal is to provide you with more flexibility to facilitate returns in places you may not traditionally look. Impact investing can help you find that gem off the beaten path, one that hasn’t been over-shopped. There’s money to be made in impact investing and some real good to be done, as well.” *Note: while we know education is CCSS’s area, when you consider CTE, or Career Tech Education’s Clusters, you know energy and manufacturing are in CCSS’s area, as well.

Then, the ‘smoking gun’ for the Core:

One of the BEST examples of the 2011 Impact Fund was this from TX. “In Texas, SJF Capital Funds is investing in a company that’s using educational technology to implement Common Core and raise the math scores of our K-12 students so they can compete for 21st century jobs. They’ve invested in gaming software that allows students to design their own “avatars” and compete in math against their own classmates and other kids across the state. Schools using this technology are reporting double-digit increases in their math scores. That’s the kind of innovation that our SBICs are making possible through impact investing.” *Note: notice the push for more money, more people, especially women; more alignment.

Related resources: 

To learn more about the SBA’s Investment Company:
https://www.sba.gov/category/lender-navigation/sba-loan-programs/sbic-program-0

To learn more about the SBA’s Investment Alliance: http://www.sbia.org/ *Note their website page brags about their educational investments. Be sure to look at their ‘Congressional Action’ page, lots of research worthy educational stuff there. See how powerful this Alliance is.

To find the SBA’s venture capitalists: https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/loans-grants-funding/venture-capital