⚡ Get All Content for 20% Off ⚡

Obama Picks Maria Contreras-Sweet to Lead the SBA Maria Contreras-Sweet, the founder of ProAmerica Bank, is the White House's pick as head of the government's Small Business Administration.

By Catherine Clifford

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

naaonline.org
Maria Contreras-Sweet

After more than six months without a leader, the Small Business Administration may finally have a new chief.

President Barack Obama is set to nominate Maria Contreras-Sweet, the founder of ProAmerica Bank, as the new leader of the SBA later today, according a senior administration official.

Once nominated, Contreras-Sweet will still have to be confirmed by the Senate.

The SBA has been without a permanent chief since August, when Karen Mills vacated the post despite vowing to stay on until the President had replaced her. Jeanne Hulit, the SBA's associate administrator in the Office of Capital Access, has been serving as a temporary chief.

Related: SBA Shows High-Tech Startups Some Love

The nomination of Contreras-Sweet, a Latina woman, may be an effort to stave off some of the flack the White House has received for having too many white men in its cabinet. The head of the SBA was elevated to a cabinet-level position during Obama's first term in office.

Contreras-Sweet is the founder and chairman of the board of the Los Angeles-based ProAmerica bank, a community bank catering to Latino entrepreneurs. Members of the small-business community were pleased with the White House's selection.

"We are optimistic that with the announcement of Maria Contreras-Sweet to lead the Small Business Administration, President Obama and his Administration will be focused on fostering and encouraging the entrepreneurial spirit of this country," said Katie Vlietstra, vice president for government relations at the National Association for the Self-Employed (NASE), an advocacy group for the self-employed and micro-businesses. "Our community will need a strong and vocal advocate inside the Administration to ensure we have the tools and resources to be competitive not only locally, but also globally."

Related: SBA Chief Karen Mills Leaving With No Replacement Named

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.