New SBA Administrator Recommended

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

Speaking before the Senate Committee on Small Business andEntrepreneurship, Barreto confirmed his commitment to working withboth private and public partners. "Small business has alwaysbeen about relationships, and it's wonderful to know that theagency has so many strong and committed partners," hesaid.

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

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

• Listen to small businesses and work to reduce the burdens ofoutdated regulations
• Work with its financial partners to improve small-businessaccess to capital
• Provide 24-hour technical assistance through itsentrepreneurial development partners
• Establish and strengthen its public and private partnerships toencourage greater contracting and business opportunities for smallbusinesses

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