Senate Hearing on SBA Nominee Carranza

December 12, 2019

On Wednesday, Dec. 11, the U.S. Senate Committee on Small Business and Entrepreneurship held a hearing featuring Jovita Carranza, President Trump’s nominee to head the U.S. Small Business Administration (SBA). 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.

Having previously served as Deputy Administrator for the SBA in the George W. Bush administration, Carranza brings a wealth of experience as the nominee to head SBA. As the current U.S. Treasurer, Carranza oversees the Office of Consumer Policy, all U.S. Mint operations and works with the Federal Reserve.

During the hearing, Carranza was pressed on many issues, including cybersecurity and SBA’s role in providing cybersecurity resources and support to America’s small businesses. Committee Chair Marco Rubio (R-Fla.) and Ranking Member Ben Cardin (D-Md.) both agreed on the need for SBA to take a proactive role in helping small businesses protect themselves from online attacks.

Other key issues were raised as well, including 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.

In underscoring her commitment to the position, if confirmed, Carranza sated, “I look forward to working with you…and as advocate for small businesses on this cabinet, I look forward to also advising and influencing other cabinet members to support it.”

Click here to watch video of the entire hearing.

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