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U.S. Small Business Administration head Karen Mills has announced she will be stepping down after four years as the SBA Administrator. While no firm date was outlined, Mills will stay on until a successor is confirmed.
In announcing her resignation, Mills stated that, “Four years ago, when I arrived at the SBA, America’s small businesses and entrepreneurs were struggling in the face of the worst economic environment since the Great Depression - and a banking sector that was frozen. Together, we rolled up our sleeves and went to work.”
She went on to thank the SBA staff for their efforts and outlined some of SBA’s key wins over the last four years, including: streamlined and simplified SBA programs; increased community bank participation in SBA lending; facilitating more than $106 billion in lending to more than 193,000 small businesses and entrepreneurs; and working to ease and make more fair the federal contracting process for small businesses.
Reacting to the announcement, NSBA President and CEO Todd McCracken said: “We applaud Administrator Mills for her hard work and dedication ensuring small business a strong voice within the administration. While there still are many items on the to-do list for America’s small businesses, including meaningful regulatory reform, tax simplification and capital availability, Administrator Mills stepped into the position in a turbulent time and pushed the agency forward on these and other small-business priorities. We are hopeful that the next Administrator will continue to be an outspoken advocate for small-business issues and work toward crafting and promoting an inclusive and comprehensive small-business agenda.”
During her tenure, Mills’ position as SBA administrator was elevated in 2012 by President Barack Obama to a cabinet-level position. This announcement is the second in a week from SBA of high-level resignations: SBA Deputy Administrator Marie Johns announced her resignation on Thursday, Feb. 7.