The new ad -- which coincides with March Madness -- is believed to be the first time name, image and likeness (NIL) advertising has been used to advocate for federal policy

Goldman Sachs and the Bipartisan Policy Center release new report “Small Agency, Big Mandate” detailing a bipartisan road map to modernizing the SBA for the first time in over 20 years

During March Madness, University of Iowa women’s basketball player Caitlin Clark and University of North Carolina men’s basketball player Caleb Love are starring in a new, national name, image, likeness (NIL) ad sponsored by Goldman Sachs 10,000 Small Businesses Voices to call for the modernization of the Small Business Administration (SBA). The ad also features Iman McFarland, a former women’s college basketball player, owner of 21^st Century Expo Group in Prince George’s County, MD and an alumna of the Goldman Sachs 10,000 Small Businesses program.

“It’s been more than 20 years since Congress reauthorized the Small Business Administration,” said McFarland. “In the time since then, 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 advertisement, believed to be the first to use name, image and likeness (NIL) advertising to advocate for federal policy, features Clark and Love, both 21 years old and born after the last time the SBA was reauthorized. The advertisement will run on connected TV and digital platforms nationally and can be viewed here.

“Caitlin and Caleb might be best known for their work on the court, but in this fun ad they are showing America that reauthorizing the Small Business Administration should be a layup for Congress,” said Joe Wall, National Director of Goldman Sachs 10,000 Small Businesses Voices. “We’re grateful that Caitlin and Caleb are joining our full-court press to modernize the SBA.”

The advertisement release comes as Goldman Sachs 10,000 Small Businesses Voices community renews their call for Congress to reauthorize the SBA. Goldman Sachs 10,000 Small Businesses Voices released a new report this week in partnership with the Bipartisan Policy Center offering a blueprint to modernize the SBA to meet the needs of today’s small businesses more effectively. The report includes policy recommendations to improve equitable access to capital, increase government contracting opportunities, and modernize entrepreneurial development resources. Specifically, the report urges policy makers to:

• Close small business financing gaps across race, gender, age, and geography to help small businesses reach their full economic potential;
• Improve small business participation in the federal procurement marketplace; and
• Support 21st Century small business development as effectively as possible, including improved customer service, marketing and technical assistance.

For more information, please visit www.gs.com/SBA-March-Madness

About 10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses (10KSB) launched over a decade ago to provide a prestigious business education program along with access to capital and support services. It has reached more than 13,000 small business owners across all 50 states, Puerto Rico, and Washington, D.C. to date. Learn more at www.gs.com/10ksb

About 10,000 Small Businesses Voices

Goldman Sachs 10,000 Small Businesses Voices, which in April will mark its three-year anniversary, builds on 10KSB and organizes program participants to advocate for policies that matter to them. Learn more at www.gs.com/10ksb-voices

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005100/en/