Kelly Loeffler Outlines Vision for Small Business Administration
UPDATE: The Senate voted by a 52–46 margin to confirm the nomination of Kelly Loeffler to lead the Small Business Administration (SBA).
Former Georgia Senator Kelly Loeffler, President Donald Trump’s nominee to lead the Small Business Administration (SBA), presented her vision during a Senate Small Business Committee hearing. She outlined plans to cut bureaucracy, restore accountability, and prioritize disaster relief “from North Carolina to California to Hawaii.” Loeffler’s confirmation hearing was largely uneventful compared to those of other more divisive candidates seeking to join Trump’s administration, and her appointment is expected to pass. If confirmed, she plans to revitalize the SBA into a metrics-driven agency, ensuring financial support reaches small businesses efficiently while reinforcing economic growth and accountability.
Raised on a family farm in Illinois and the first of her family to graduate from college, Loeffler played a key role in growing a startup into a Fortune 500 company. Loeffler co-owned the Atlanta Dream WNBA team and was the founding CEO of financial technology company Bakkt. Loeffler believes her background as a fourth-generation family farmer turned accomplished businesswoman and congresswoman makes her the ideal candidate for the role, claiming that “small business is in [her] DNA.” If confirmed, Loeffler pledged to donate her $207,500 annual federal salary to charity, as she did with her Senate salary from 2019 to 2021, distributing the $174,000 per year to over 40 Georgia charities and nonprofits. Her estimated net worth is around $1 billion.
Loeffler emphasized streamlining the agency while bringing it up to date. “We’ll cut red tape and modernize the agency while restoring the accountability and transparency that taxpayers deserve,” she wrote. “I will crack down on fraud, with a zero-tolerance policy, while shifting SBA’s focus from Washington D.C. back to Main Streets across America.” She also stressed the SBA’s role in economic growth. “Each taxpayer dollar entrusted to SBA should have an economic multiplier effect—delivering productive capital to grow manufacturing, strengthen rural communities, create jobs, and develop critical technology like AI and chips. I believe we must continue to empower entrepreneurs from all walks of life, including women and veterans.” Loeffler aims to enhance SBA technology, improve staff training, and implement a metrics-driven approach to decision-making. “I think what small businesses want to know is that there are people at this agency that understand their challenges,” she said. “We want to be part of the solution, not the problem.” She also highlighted concerns about the 7(a) loan program, calling it “the bread-and-butter loans that small businesses use to start.”
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