Owning It: Small Business

Small-biz confidence at all-time high: SBA boss

3 challenges for small businesses: Contreras-Sweet
3 challenges for small businesses: Contreras-Sweet

Small-business confidence has reached an all-time high in the U.S. despite several challenges facing the sector, Maria Contreras-Sweet, administrator of the U.S. Small Business Administration, said Monday.

Small businesses "are generating 2 out of 3 net new jobs," Sweet told CNBC's "Squawk on the Street." "It's a movement; it's a new awakening [spreading] from young girls, millennials, to hard-core entrepreneurs. Everybody's thinking about starting their own business today."

Sweet added that one of the largest challenges faced by small-business owners is acquiring capital. "Lamentably, some of the larger financial institutions have not been doing the small-business lending," she said.

Nevertheless, she also said the agency has taken several steps in order to help out these entrepreneurs.

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One of these is recruiting more credit unions and alternative lenders to provide loans for small businesses. Another measure is the exclusion of fees on SBA loans greater than $150,000. Lastly, the agency has launched an initiative to streamline the application process for small businesses.