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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 This material may not be published, broadcast, rewritten or redistributed.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 73 114 11,552
MORTGAGES 100 142 15,121
FORECLOSURE NOTICES 47 47 2,958
BUILDING PERMITS 198 392 27,646
BANKRUPTCIES 60 128 11,090
BUSINESS LICENSES 19 37 4,075
UTILITY CONNECTIONS 120 323 16,809
MARRIAGE LICENSES 21 43 3,507

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