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

By Meagan Clark
International Business Times
September 26, 2013

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