Karen Mills, Head of Small Business Administration, Is Leaving Her Post

×
Karen MillsWASHINGTON -- Karen Mills is leaving her post as head of the Small Business Administration, opening yet another Cabinet-rank job for President Barack Obama to fill at the start of his second term. Obama says Mills played a leading role supporting start-up businesses and entrepreneurs.

Mills has served as SBA administrator since 2009.

The SBA arranges loans, loan guarantees and other assistance to small businesses. Most recently, the SBA stepped in to assist businesses hurt by Superstorm Sandy, approving more than $1.1 billion in disaster loans to residents and businesses in states affected by the storm.

Mills is the latest executive branch official to leave during the traditional turnover at the beginning of a second term.

In a statement Monday, Obama credited Mills with helping businesses recover from the damaging recession.

Increase your money and finance knowledge from home

Timing Your Spending

How to pay less by changing when you purchase.

View Course »

Intro to Retirement

Get started early planning for your long term future.

View Course »

Add a Comment

*0 / 3000 Character Maximum