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VOL. 129 | NO. 11 | Thursday, January 16, 2014

Obama Nominates California Businesswoman to Lead SBA

JIM KUHNHENN | Associated Press

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WASHINGTON (AP) – President Barack Obama says his pick to head the Small Business Administration understands what small businesses need and how they can lift up the nation's economy.

Obama is nominating Maria Contreras-Sweet to head the agency. Contreras-Sweet has a history of working with small businesses as the founder of a Latino-owned community bank and a former California cabinet secretary. She's also been an advocate for Hispanics.

Obama said Wednesday that Contreras-Sweet knows how hard it is to start a business. He says she also understands that a lack of access to capital often means a lack of opportunity for Americans.

He's casting the SBA's role as part of his broader effort to fight income inequality.

If confirmed, Contreras-Sweet would become the second Hispanic in Obama's second-term Cabinet.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 327 11,765
MORTGAGES 76 371 15,350
FORECLOSURE NOTICES 13 84 2,995
BUILDING PERMITS 382 972 28,226
BANKRUPTCIES 65 345 11,307
BUSINESS LICENSES 19 117 4,155
UTILITY CONNECTIONS 184 700 17,184
MARRIAGE LICENSES 20 100 3,564

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