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FOR IMMEDIATE RELEASE
Contact:
Joseph Rendeiro
(202) 776-1566
jrendeiro@nclr.org
Earlier today, President Obama nominated Maria Contreras-Sweet, founder and board chair of Pro¬América Bank, a Latino-owned community bank in Los Angeles, to head the U.S. Small Business Administration (SBA). Formerly secretary of California’s Business, Transportation and Housing Agency, Contreras-Sweet will be responsible for overseeing the agency’s lending programs for small businesses and entrepreneurs as well as the federal government’s small business contracting programs. While already long overdue, Contreras-Sweet’s confirmation will make her the second Hispanic and eighth woman to serve in President Obama’s second-term cabinet.
“As one of the most respected leaders in the business and Latino communities of California, Maria Contreras-Sweet is a stellar choice for this post and will bring her very valuable experience and perspective to the president’s cabinet,” said Janet Murguía, President and CEO of NCLR (National Council of La Raza). “With her expertise in both the business and the government sides of banking and lending, the benefit to small business owners and nonprofits, especially in communities of color, and to our economy will be substantial.”
“Through her work with Pro¬América Bank, Maria Contreras-Sweet has played a critical role in ensuring that Latino entrepreneurs and small business owners, as well as Latino-focused nonprofits, receive the necessary capital that they need to get their operations off the ground. Not only has this created countless jobs for Hispanics in Los Angeles, it has also ensured that nonprofits are able to provide their valuable services to the community. We urge the Senate to confirm her nomination as soon as possible,” Murguía added.
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