The newly appointed head of the Small Business Administration (SBA), Maria Contreras-Sweet would bring years of real-world banking and SBA experience to the position. The Senate has scheduled a hearing Wednesday to confirm her appointment.
Contreras-Sweet would take the reins of the SBA nearly a year after the agency’s former administrator, Karen Mills, announced her resignation. She also would become the second Hispanic in Obama’s second-term Cabinet.
Contreras-Sweet knows firsthand what it means to start a small business. In 2006, she helped organize what is now called ProAmérica Bank in Los Angeles, and she remains its chairwoman. ProAmérica is a small bank with just $123 million in deposits and a loan portfolio of $108 million, according to data from the Federal Deposit Insurance Corporation.
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