Mills to step down as head of Small Business Administration
Tuesday, February 12, 2013 11:34 AM
Karen Mills is leaving the U.S.
Small Business Administration (SBA) after nearly four years of leading the
Washington Business Journal reported. Mills announced her decision
Monday in a letter to SBA employees, which thanked them for their role "to
help America's entrepreneurs and small business owners during this critical
juncture in our nation's history." Mills, who has an M.B.A. from Harvard
Business School, ran her own private equity firm before joining the SBA. She
said the agency's loan programs played a major role in unfreezing credit to
small businesses. In the past four years, the SBA has backed more than $106
billion in loans to 193,000 small businesses, including two years of record
lending thanks to those now-expired stimulus incentives.