Wednesday afternoon (Jan 15, 2014) President Obama nominated community bank founder Maria Contreras-Sweet to replace former Administrator Karen Mills as head of the Small Business Administration. Contreras-Sweet, in addition to being the founder of ProAmericaBank in California, also served as Secretary of California’s Department of Business, Transportation and Housing from 1999 to 2003. President Obama reaffirmed his commitment to the small business community in the U.S. and the important role of the SBA loan guarantee program saying, “Lack of access to capital means a lack of opportunity.”

The President cited Contreras-Sweet adding, “When family businesses thrive, the community thrives and the economy thrives.” Hopefully we’ll see more moves to make capital more accessible to the smallest small businesses, those along Main Street, that create jobs, strengthen communities, and build local economies.

View the President’s nomination speech here: