The US Small Business Administration employs more than 3,000 people and has a budget of more than $700 million. The independent agency also oversees millions of small-business loans and a $120 billion loan portfolio dedicated to the cultivation of small businesses. The current administrator, Maria Contreras-Sweet, was previously secretary of California’s Business, Transportation and Housing Agency. She ran a department more than 10 times larger than the SBA, with “44,000 employees, a $14 billion budget, and 14 state departments, including the departments of Transportation, Highway Patrol, Housing, Financial Institutions, Corporations, Real Estate and the DMV,” according to her official bio. She also started and ran a bank and created a foundation to focus on improving the health of California residents.
In short, when she became SBA administrator in 2014, she arrived with a wealth of relevant experience.
Wednesday, President-elect Donald Trump nominated a pro wrestling promoter to take over the job. Before running for the Senate in 2010 and 2012, and before her family foundation became one of the largest donors to the Trump Foundation, Linda McMahon did this:
In announcing McMahon’s selection, Trump said in a statement, “Linda is going to be a phenomenal leader and champion for small businesses and unleash America’s entrepreneurial spirit all across the country.”