Nearly Half of Fortune 500 Companies Get Small Business Administration Money Meant For Small Businesses: American Small Business League

By @MeaganKay on
Coca-Cola (2)
Coca-Cola. Reuters

Nearly half of Fortune 500 companies (235/500) collectively received hundreds of millions of dollars in federal small business contracts in the fiscal years 2012 and 2013, the American Small Business League (ASBL) reported this week.

According to an annual study ASBL conducted, 71 of 100 companies receiving the highest dollar amount in federal small business contracts in 2012 were large companies that significantly exceeded the federal government’s definition of a small business. The companies received $9.5 billion in small business awards that year, and federal agencies counted that money toward their small business contracting goals.  

Here are 10 companies that received small business contracts, listed by their Fortune 500 rank and the value of their contract(s) :

  1. 1. Chevron Corporation (NYSE: CVX), ranked 3rd:  $5,845,285
  3. 2. General Electric Company (NYSE: GE), ranked 8th: $1,928,317
  5. 3. Verizon Communications (NYSE: VZ), ranked 16th: $38,540,761
  7. 4. The Coca-Cola Company (NYSE: KO), ranked 57th: $4,658,108
  9. 5. PepsiCo (NYSE: PEP), ranked 43rd: $5,690,654
  11. 6. Boeing (NYSE: BA), ranked 30th: $25,586,394
  13. 7. Johnson & Johnson (NYSE: JNJ), ranked 41st: $1,929,141
  15. 8. Citigroup (NYSE: C), ranked 26th: $5,484,204
  17. 9. Lockheed Martin (NYSE: LMT), ranked  59th: $110,528,644
  19. 10. General Dynamics (NYSE: GD), ranked 98th: $215,690,004

Other companies that received federal small business contracts include Apple Inc. (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT), Walgreens (NYSE: WAG), Home Depot (NYSE: HD), Delta Airlines (NYSE: DAL), J.P. Morgan Chase & Co. (NYSE: JPM-D) and Bank of America Corp. (NYSE: BAC).


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