News From the
Committee on Small Business
Nydia M. Velázquez, Ranking Democratic Member

For Immediate Release
April 26, 2006

CONTACT: Kate Davis, Allyson Ivins, (202) 225-4038

Velázquez Statement on White House Nominee for New SBA Administrator

WASHINGTON - Today, Congresswoman Nydia M. Velázquez, Ranking Democrat on the House Small Business Committee released the following statement on the White House's announcement of their plans to nominate Steven C. Preston of Illinois as the new administrator of the Small Business Administration (SBA):

"Small businesses need an independent voice at SBA that will fight for their needs, speak out forcefully on their behalf, and act as a true champion for this nation's entrepreneurs. Mr. Preston would be coming to the agency from a Fortune 500 company whose issues are nothing like those faced by the average small business owner.

"However, I certainly look forward to hearing Mr. Preston's thoughts on how to improve the agency - particularly how he plans to get the agency back on track, reduce the cost of capital for entrepreneurs, and tackle the flawed contracting system which has resulted in less opportunity for small businesses. I am also curious to learn how he plans to reopen the agency's only venture capital program, and guarantee that future disaster victims will receive immediate and adequate assistance in times of need.

"It is important that Mr. Preston's background and experience are closely evaluated to determine whether or not he is the best fit to head SBA. For the past six years this agency failed to be adequately engaged on small business issues, resulting in a lack of commitment and effectiveness in assisting this nation's entrepreneurs. We simply cannot afford to have another situation like this over the next few years. It is time that this agency is finally managed by an individual who is truly dedicated and ready to meet the needs of our small businesses. Whether Mr. Preston is that person, remains to be seen."

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