Q&A With SBA Administrator Karen Mills
The Denver Business Journal spoke with Karen Mills, the 23rd administrator U.S. Small Business Administration, prior to her keynote speech at the U.S. Hispanic Chamber of Commerce Convention.
Q: You took over SBA during very tough times. Is there more of a sense of urgency to act?
A: Yes. … The sense of urgency is, the No. 1 priority is to implement the recovery act, and get the money into the hands of the small businesses. Because they were just frozen, and the banks were frozen, and they could not survive without some kind of liquidity. We knew we had the right formula, we saw this go back up, we got it out to our network, our field operations. We have 1,000 banks that have come back, that are lending now that weren’t lending before. Half of them had not made a loan going back to 2007. So there are 1,000 additional banks, more points of access.
Q: Still, a lot of business owners say they can’t get loans.
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Photo by bowdoin.edu.
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