Senate Committee OKs SBA Nominee

December 18, 2019

Earlier today, Dec. 18, the U.S. Senate Committee on Small Business and Entrepreneurship held a meeting where they voted to approve the nomination of Jovita Carranza, President Trump’s nominee to head the U.S. Small Business Administration (SBA). The committee voted 17:2 to approve Carranza’s nomination which will now move to the full Senate for consideration.

SBA has been absent a confirmed Administrator since Linda McMahon stepped down in April of this year. Despite a presidential tweet in April, Carranza’s nomination was formally submitted to the Senate in August. During a hearing of the committee last week, Carranza was pressed on many issues, including cybersecurity and SBA’s role in helping small businesses protect themselves; access to capital programs such as the 7(a) and alternative microlending options; how to better outreach to underserved communities and entrepreneurs; and improving federal contracting.

Following today’s committee approval of the nomination both the Chairman and Ranking Member echoed their eagerness to work with Carranza.

Chairman Rubio: “I congratulate Ms. Carranza on being favorably reported to the Senate floor. If confirmed, I look forward to working collaboratively with her to modernize the SBA, optimize the agency’s programs, and increase interagency coordination. As Chairman, I recognize the vital role the Administrator plays in ensuring the efficacy of the agency and am eager for the role of SBA Administrator to be filled. This will better allow the Committee to fulfill our oversight responsibilities and further our efforts to reauthorize the Small Business Act.” 

Ranking Member Cardin: “At a time when the face of business ownership in America is becoming more diverse, SBA needs strong leadership and innovative thinking to help entrepreneurs from underserved communities as they overcome pervasive, historical barriers. During last week’s nomination hearing, Treasurer Carranza expressed her commitment to supporting underserved communities and advocating for small businesses within the administration. I look forward to working with Treasurer Carranza to empower America’s entrepreneurs so they can build successful businesses and create jobs.”

In NSBA’s initial letter of support for Carranza as SBA Administrator, NSBA President and CEO Todd McCracken stated, “It is in the best interest of America’s small businesses to have a strong SBA Administrator and we believe that Ms. Carranza will achieve this, by bringing a wealth of business and policy experience to the position. With her past experience as Deputy Administrator for the SBA under President George W. Bush, Ms. Carranza understands how the loan process works, and is keenly aware that financing and access to capital is the lifeblood of successful small businesses.”