SBA Chief Sees Capital in Gains
April 3, 2013
As head of the Small Business Administration, Karen Mills helped guarantee $106 billion in lending to more than 193,000 small businesses, including two record years of more than $30 billion each. She’s the first SBA administrator since the Clinton years to have a Cabinet-level position. She’ll step down once her successor is chosen.
Q: You’re the first SBA chief with Cabinet-level status in years, and the SBA seems to have more clout under President Obama. What’s up?
Mills: We have a president who understands small businesses and entrepreneurs, and he understands what they need to grow. He understands cash flow. He understands our loan products. When you have a leader who actually understands these things and a Cabinet that works together in a very collegial fashion, something like small business, which needs the partnership of all the agencies, plays a very important role in many of the administration’s efforts.