What is Expected from the New SBA Administrator


August 6, 2013

sba-administrator-karen-millsBy Bob Coleman
Editor, Coleman Report

The clock continues to count down to the end of August when SBA Administrator Karen Mills vacates her office and moves to the hallowed halls of Harvard.

Frustrated with the lack of a successor several industry leaders have had enough and have floated some names for the White House’s attention.

Now the author of “The Entrepreneur’s Secret to Creating Wealth,” Chris Hurn weighs in, but with a different twist. He doesn’t name names, but lists four expectations he has of the new administrator. He writes;

1) Private-Sector Experience – “Without understanding what real business owners and small business lenders are dealing with, very little can be done to improve the SBA.”

2) An Understanding of Wealth Creation – “At its root, the SBA is helping business owners create wealth and lasting value: for themselves, their employees, their customers, and the U.S. economy as a whole.”

3) Budget-Neutrality – “The new SBA Administrator needs to continue to fight for budget-neutrality in these two flagship programs in order to continue helping America’s small business owners without being a drain on public resources.”

4) Program Stewardship – “To me, it’s a no-brainer to reinstate these programs (504 refinance and first mortgage lie pooling) so that the remainder of the authorized funds can be used to help America’s small business owners get greater control over their commercial debt and position themselves for growth, especially since these included supplemental fees in order to make them budget-neutral.

Read his blog post here.