Obama Nominates New SBA Administrator

January 16, 2014

sba-nominationOn Wednesday, January 15, 2014, President Obama nominated Maria Contreras-Sweet as the new Administrator of the U.S. Small Business Administration (SBA). Former Administrator Karen Mills announced her intention to leave her post last February.  Mills’ interim replacement, Jeanne Hulit, took over as Acting Administrator in September of last year and has won strong reviews for her work in the job. However, given the significant influence and decision-making authority that an SBA Administrator has over programs vital to America’s small business community, this nomination is certainly welcomed.

Prior to being nominated by President Obama, Contreras-Sweet served as Secretary of the California Business, Transportation and Housing Agency, president and co-founder of Fortius Holdings (a private equity and venture capital fund), and most recently as founder and CEO of ProAmerica Bank, a Latino-owned community bank located in Los Angeles, California.

NSBA is urging the Senate to consider this nomination as soon as possible so that there can be a new SBA leader in place at the earliest possible date to ensure the unique needs and challenges facing small business are immediately recognized and addressed.