The confirmation hearing for Karen Gordon Mills, President Obama’s choice to lead the Small Business Administration, is set for Wednesday in the Senate’s Small Business and Entrepreneurship Committee.
Some in the small-business community wondered when her confirmation hearing would begin, considering the agency has received much attention in recent weeks. The Obama administration unveiled a new program recently to spend up to $15 billion buying up SBA-backed loans on the secondary market along with providing stimulus money to reduce SBA loan fees and other program initiatives. The agency has also come under scrutiny, with a new Government Accountability Office report showing the agency’s HUBZone program, which helps provide federal contracts to businesses in low-income communities, is rife with fraud.
It’s not that unusual, however, for a newly appointed SBA chief to not be confirmed until the April after Inauguration Day.
Some small-business advocates criticized Ms. Mills’ appointment, given her background as a venture capitalist (read more about her experience here). They would rather see someone with experience running a small business, rather than experience mostly working with high-growth firms. Others believe Ms. Mills’ background in funding high-growth firms might allow her to help the agency assist those businesses better.
Darryl K. Hairston, SBA’s acting administrator, said in an interview with The Wall Street Journal last week that he isn’t sure what his role will be once the new administrator is confirmed.
Readers, do you think Ms. Mills seems a good fit to lead the SBA, given her experience?
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