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New SBA Administrator Recommended

Senate Committee on Small Business and Entrepreneurship chooses businessman Hector Barreto Jr.

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The U.S. Senate Committee on Small Business and Entrepreneurship unanimously voted on Thursday, July 19, to send Hector Barreto's nomination as SBA administrator to the Senate floor for a confirmation vote. Nominated by President Bush to head the agency, Barreto, founder of Barreto Insurance and Financial Services Inc. in Los Angeles, is a securities broker-dealer and a vice chairman of the U.S. Hispanic Chamber of Commerce. He also served as co-chairman of the Bush/Cheney 2000 campaign in California.

Speaking before the Senate Committee on Small Business and Entrepreneurship, Barreto confirmed his commitment to working with both private and public partners. "Small business has always been about relationships, and it's wonderful to know that the agency has so many strong and committed partners," he said.

Barreto also noted his inherent appreciation for small business, given the history of entrepreneurship in his own family: "It has empowered my family to achieve the American Dream. Through my national small-business relationships, I have come to appreciate the power and importance of small business on a national and international level."

Among Barreto's pledges to small business, he says the SBA will:

  • Listen to small businesses and work to reduce the burdens of outdated regulations
  • Work with its financial partners to improve small-business access to capital
  • Provide 24-hour technical assistance through its entrepreneurial development partners
  • Establish and strengthen its public and private partnerships to encourage greater contracting and business opportunities for small businesses

For more information on Barreto's appointment, visit the SBA's Web site.

Written By

Karen E. Spaeder is a freelance business writer in Southern California.