The Senate voted Tuesday to confirm that President Donald Trump has been selected to lead the Small Business Administration (SBA).
Kelly Loeffler, a well-known executive and philanthropist who served as Georgia senator for two years, is now heading the agency. She announced plans at a confirmation hearing to reduce the regulatory burden on small business owners and enhance access to SBA-backed loans and grants.
The agency aims to promote the business by providing counseling, capital and contract expertise to small business owners.
Loeffler appeared before the Senate Small Business and Entrepreneurship Committee on January 28th to outline her vision and “restore the SME economy” where Trump's policies lead to a “golden age of prosperity and growth.” I promised.
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The Senate voted on February 18, 2025 to confirm the election of President Donald Trump to lead Georgia Republican small business manager Kelly Roefler. (Alyssa Pointer/Bloomberg via Getty Images)
“That's exactly what America's first agenda does: end inflation, cut taxes, unleash American energy control, cut regulations, and suppress fraud, waste and abuse across governments. ”
Loeffler and her husband Jeff have both founded the Fortune 500 Financial Services and Technology Company and as SBA administrators, they will contribute $207,500 a year to the charity.
Loeffler, whose net worth is estimated at around $1 billion, has donated an annual Senate salary of $174,000 between 2019 and 2021 to more than 40 Georgia charities and nonprofits.
These organizations included food banks, faith groups, and organizations that opposed abortion. It includes abortion, development/adoption groups, and organizations that promote healthcare, agriculture, education, law enforcement and disaster relief.
The Senate voted on Thursday at a margin of 51-43, moving forward with Loffler's nomination for a final confirmation vote.
Sen. Joni Ernst of R-Iowa, chairman of the Senate Small Business and Entrepreneurship Committee, supported Loeffler's appointment, cited Loeffler's “zero tolerance policy on waste, fraud and abuse.”
Additionally, Ernst expressed support for Loeffler's plan to conduct a full-scale audit of the SBA to eliminate wasted spending.
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Sen. Joni Ernst of R-Iowa expressed support for Kelly Loeffler's nomination on February 13, 2025, saying Loeffler understands the requirements for entrepreneurship. (Reuters)
“Senator Roefler is very eligible for this role,” Ernst said Thursday on the Senate floor. “As a successful businessman, Senator Loffler really understands what it takes to be an entrepreneur and it's very clear that he'll be an effective voice for small businesses across America.”
But Sen. Ed Markey of D-Mass, a ranking member of the Senate Small Business and Entrepreneurship Committee, said her confirmation will pave the way for newly created government efficiency (DOGE) to “illegally reduce it.” “They pushed back Loffler's nomination amid concerns. Funding for small business owners. As a result, he said Trump was trying to fill his cabinet with a “illegal bid.”
Markey and Loeffler also confirmed in January after the Trump administration announced on January 27 that it would freeze federal funds and grants aimed at eradicating “love” and “weaponization of government.” They became modest during the hearing.
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Sen. Ed Markey, D-Mass, was sparred to Kelly Loeffler at a confirmation hearing about government spending. (Andrew Harnik/Getty Images)
The White House retracted the memo on January 29th, but White House press director Karoline Leavitt said the federal funding freeze was in effect.
As a result, Markey believes the move is legal following backlash from Congressional members that the Trump administration has tried to withhold Congress illegally and withhold funds. I pressed it against Loffler.
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“I fully agree with President Trump's decision to stop wasted spending,” Loeffler told Markey. “It gave rise to landslide victory, and many Americans awaited relief for excessive government spending.”
