SBA Administrator McMahon is swiftly shaping her leadership team at the SBA. Administrator McMahon as appointed longtime SBA veteran William Manger to serve as Associate Administrator for SBA’s Office of Capital Access. Prior to his current post, Manger served two stints at SBA under the Bush Administration; first in 2005 as the Director of SBA Region II in NYC and second from 2007 to 2009 as Associate Administrator for field operations. As Associate Administrator, Manger will be responsible for SBA’s loan program policy, technology, operations and oversight. This includes SBA’s flagship 7(a) and 504 loan programs, the microloan program and the surety bond program. Manger will manage a $120 billion portfolio of direct and guaranteed loans, nine operation centers, and 560 employees of SBA’s Office of Capital Access.
“By helping people attain capital and create small businesses, we are helping them attain the American Dream,” Manger said.
Speaking of the 7(a) program on March 9th, the House Small Business Committee’s Subcommittee on Investigations, Oversight and Regulations examined the successes of the U.S. Small Business Administration’s (SBA) 7(a) loan program, as well as potential opportunities to strengthen and improve the program. Our start-ups, our entrepreneurs, our small businesses—the true engines of our economy—continue to experience a rigid lending environment, said Subcommittee Chairman Trent Kelly (R-MS). “While large companies are turning to debt and equity markets to raise capital, small businesses all over the country regularly turn to conventional bank lending to finance their projects.”
“At times, small firms cannot access conventional lending, so they have nowhere to turn for the capital to grow their business and create jobs. The program, which is currently running at zero cost to the American taxpayer, does not provide direct loans; rather, the SBA offers guarantees of repayments made by lenders,” explained Subcommittee Chairman Kelly, who was chairing his first hearing as the new Chairman of the Subcommittee on Investigations, Oversight, and Regulations.
Given the recent release of the President’s FY18 budget proposal – SBA, compared to the other federal agencies, remained relatively unscathed. As previously mentioned President Trump maintained President Obama’s president elevating the agency to cabinet level, and in his first budget only proposed a five percent or $43.2M decrease to the operational budget and fully supports the $45B in loan guarantees SBA administers.
And lastly on that executive note, President Trump as nominated Rear Admiral Althea Coetzee to serves as Deputy Administrator of SBA, the agency’s number two. Chairman Steve Chabot (R-Oh) of the House Small Business Committee said this of Coetzee’s nomination, “Allie Coetzee’s distinguished record in the U.S. Navy is the remarkable foundation for the innovative and entrepreneurial approach she has since brought to making local, state, and federal government entities work better on behalf of small businesses,” said Chairman Chabot. “The Small Business Administration and Congress alike are sure to benefit from her firsthand knowledge of how small contractors equip and empower the service members that defend us all. The Small Business Committee looks forward to working with her and the rest of the formidable team Administrator McMahon is assembling at the SBA.”