Senator: Obama Picks Venture Capitalist to Head Small Business Administration
{{#rendered}} {{/rendered}}Maine Sen. Susan Collins says President-elect Barack Obama has selected Karen Mills of Brunswick, Maine, to head the Small Business Administration.
Collins disclosed the selection of Mills in a statement to reporters Friday morning. Obama is expected to announce the selection at a news conference Friday afternoon in Chicago.
Mills is a venture capitalist and a founding partner of the New York-based equity firm Solera Capital. She has been an adviser to Maine Gov. John Baldacci on economic matters. She's also president of the MMP Group in Brunswick.
{{#rendered}} {{/rendered}}The Small Business Administration represents the interests of small businesses and guarantees loans. It also provides loans for homeowners and businesses recovering from natural disasters.