Small Business News
Jovita Carranza Expected to Replace Linda McMahon at SBA
Changes are afoot at the Small Business Administration (SBA). Following news that SBA Administrator Linda McMahon intended to step down from her post, President Trump has announced that he intends to nominate Jovita Carranza to take on the position. Not surprisingly, said announcement came in the form of the tweet, with @RealDonaldTrump writing, “I am pleased to announce that Jovita Carranza will be nominated as the new @SBAgov Administrator. She will be replacing Linda McMahon, who has done an outstanding job. Jovita was a great Treasurer of the United States – and I look forward to her joining my Cabinet!”
For Carranza, this is neither her first appointment from President Trump nor her first job at the SBA. Starting with the latter, Carranza previously served as deputy administrator for the agency from December 2006 to January 2009 under President George W. Bush. More recently she was appointed by Trump to be U.S. treasurer where she is the principal adviser to Treasury Secretary Steven Mnuchin. In a statement, Mnuchin spoke highly of Carranza, saying, “Jovita’s experience — including time as Deputy Administrator for the Small Business Administration — will be an asset to President Trump and the SBA, as they continue to promote pro-growth economic policies, eliminate job killing regulations, and fight for the small businesses that are the lifeblood of the American economy.”
As for McMahon, she oversaw the SBA during a time of historically high optimism among small business owners. Moreover, under her leadership, the agency offered U.S. entrepreneurs more than $30 billion in guaranteed loans in 2018 — including record lending for the SBA’s Microloan and Community Advantage Programs. Of course McMahon also endured the nation’s longest government shutdown, which halted the administration’s ability to process most loan requests and held up an estimated $200 million in funds per day. As for what’s next for the former pro-wrestling exec, McMahon reportedly intends to join a Super PAC endorsing the President’s reelection campaign.
Surely this “shakeup” at the SBA will be lumped into the revolving door storyline that has plagued the White House. To be fair, however, McMahon’s departure is a bit different as she’s seemingly leaving the public sector to help the President from the outside. As for Carranza, her past experience at the SBA makes her a strong choice to replace the departing McMahon. With the U.S.’s economic growth currently in question, Carranza could well have her work cut out for her if she is successfully confirmed. Despite that there’s little doubt that she and the SBA will continue to assist and support entrepreneurs across the nation.
