Former California public servant Maria Contreras-Sweet is confirmed at the head of the Federal Small Business Administration.
Maria Contreras-Sweet has been accepted by vote at the head of the Federal Small Business Office, which supports small businesses with loans and other forms of assistance.
WASHINGTON – The Senate confirms Maria Contreras-Sweet, a former California public servant who created a community bank in Los Angeles to manage the Federal Small Business Administration.
Contreras-Sweet was confirmed Thursday by a majority vote for the post of minister, which helps small businesses obtain loans and other forms of support. She will take over Karen Mills, a former venture capitalist who stepped down as director of the agency last year.
President Obama said that Contreras-Sweet “understands what it means to start a small business” and “has a proven record of success for other small businesses.”
“As we work to keep our economy growing, we’re asking Mary to find other ways to support small businesses,” said Obama, who raised the cabinet-level position two years ago. . ,
Contreras-Sweet founded ProAmerica Bank in 2006. It focuses on the care of Latin American small and medium businesses in Los Angeles. She was also co-founder and president of Fortius Holdings, a private equity firm that has funded small companies in California.
Contreras-Sweet was born in Guadalajara, Mexico, and immigrated to Los Angeles at the age of five.
In 1999, she became the first official of Latina State Cabinet, until 2003, as secretary of business, transport and housing.
Senator Maria Cantwell (D-Wash.), Chair of the Small Business and Entrepreneurship Committee, described Contreras-Sweet as “a leader in small-scale lending”.