SBA head Mills, leader in difficult times, to depart
Karen Mills, head of the Small Business Administration as it focused on helping companies recover from the Great Recession, is stepping down.
Under her leadership, the SBA brought more than 1,000 community banks to its lending programs and it won a commitment from 13 big banks to increase their lending to small businesses over three years. The agency regained its status as a Cabinet-level agency with Mills at the helm — a status it had lost during the Bush administration.
Mills says she will remain in her position until a successor is appointed by President Obama. She joins a number of officials to leave the administration. Many depart after a president's first term.
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