Small Business Administration Chief Stepping Down

February 12, 2013  |  

Karen Mills, who has been head of the Small Business Administration since 2009, is stepping down from her post.

We’ve covered the work of the SBA a number of times in the past few months, including here and here. The Huffington Post has a good, succinct overview of what the agency does:

The SBA arranges loans, loan guarantees and other assistance to small businesses. Most recently, the SBA stepped in to assist businesses hurt by Superstorm Sandy, approving more than $1.1 billion in disaster loans to residents and businesses in states affected by the storm.

Politico says Mills will be staying put until a new person is appointed to the spot, which is Cabinet-level. President Obama gives Mills credit for helping with passage of the Small Business Act and playing “a leading role in my administration’s efforts to support start-ups and entrepreneurs.”

Secretary of State Hillary Clinton and Department of Labor Secretary Hilda Solis are among the other administration members who are stepping down for Obama’s second term.

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