This story is free to read because readers choose to support LAist. If you find value in independent local reporting, make a donation to power our newsroom today.
This archival content was originally written for and published on KPCC.org. Keep in mind that links and images may no longer work — and references may be outdated.
LA bank founder confirmed to head Small Business Administration
Maria Contreras-Sweet, a former California cabinet secretary and ProAmérica Bank founder, has been approved by the Senate to head the U.S. Small Business Administration.
(
Charles Dharapak/AP
)
The Senate has approved Los Angeles bank founder Maria Contreras-Sweet to head the federal Small Business Administration, the agency confirmed Thursday.
Contreras-Sweet is a former California cabinet secretary and the founder and chair of ProAmérica Bank, which opened in 2007 and caters to a Latino clientele with a focus on small- and mid-sized businesses.
She was born in Guadalajara, Mexico and arrived in the U.S. at age 5, according to the Associated Press.
She becomes the second Hispanic in Obama's second-term Cabinet, after Labor Secretary Thomas Perez. Contreras-Sweet was the first Latina to serve as a Cabinet secretary in California, when she presided over the state's Business, Transportation and Housing Agency between 1999 to 2003.
The National Association of Latino Elected and Appointed Officials, which supported Contreras-Sweet's nomination, praised her in a statement Thursday as "a dedicated public servant" with "firsthand understanding of the unique needs of the small business community."
A spokesman for the SBA said Contreras-Sweet, who was nominated by President Barack Obama in January, was confirmed for the post but has yet to be sworn in. She fills the SBA administrator's position formerly occupied by Karen Mills, who left last August.
Note: Maria Contreras-Sweet is a former member of Southern California Public Radio's board.
Sponsored message
Correction: An earlier version of this story mistakenly said that Maria Contreras-Sweet was a current member of Southern California Public Radio's board.
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
