Karen Mills
Karen Mills
Karen Gordon Millsserved as the 23rd Administrator of the U.S. Small Business Administration. She was nominated by President-elect Barack Obama on December 19, 2008, confirmed unanimously by the Senate on April 2, 2009, and sworn in on April 6, 2009. During her tenure, her office was elevated to the rank of Cabinet-level officer, expanding her power on policy decisions and granting her access to cabinet meetings. On February 11, 2013 she announced resignation as Administrator and left the post on...
NationalityAmerican
ProfessionPublic Servant
Date of Birth14 September 1953
CountryUnited States of America
Health care is the No. 1 concern of small businesses and the status quo is untenable.
I saw the S.B.A. with just enormous potential, and that's what I told the president - this is really a jewel.
One of the most important things we hear is the S.B.A. needs to be ubiquitous. We do all these things, but people still don't know.
Small businesses are really the engine in the economy.
Small businesses have told us that having cash in their pocket is one of the primary things that they need.
Small businesses want things streamlined, and one of the great successes we're having is less paperwork, faster turnaround times.
The morale when I came in was not the best. It was because the agency had not been valued.
We don't want to give a business that is not going to come through the troubled waters a loan that they can't pay back.
After four years as Administrator of the SBA, I have let President Obama know that I will not be staying for a second term. I will stay on until my successor is confirmed to ensure a smooth and seamless transition.
I recently had the opportunity to participate in 'Inc.''s first-ever 'Hire Power Awards' event in Washington, D.C. The event was a testament to the power of American entrepreneurship and the role that it plays in driving job creation and innovation in a wide array of industries.
I think we've learned that the S.B.A. plays a critical role in providing access and opportunity when the market is not providing that access. We help banks get that money out into the hands of important and viable businesses, particularly those owned by minorities, women, immigrants and veterans.
In October 2008, when the credit crunch hit, small businesses were really crushed by the lack of capital.
Small businesses, you can give them capital, but what they often need as much is mentoring, advice and help with their business plan.