WASHINGTON—President-elect Joe Biden has picked out Isabel Guzman, a California financial development formal, to guide the Tiny Small business Administration, in accordance to individuals acquainted with the issue.
Ms. Guzman was a senior official at the SBA during the Obama administration, serving as deputy main of staff members. In 2019, she turned the director of California’s Office environment of the Compact Business Advocate, exactly where she aided apply a grant method for corporations impacted by the pandemic.
If verified, Ms. Guzman would lead an company that is finest known for its personal loan systems to deliver little companies with cash and has additional lately served corporations impacted by the pandemic. Several of the agency’s loan courses count on partnerships with banking institutions and other monetary institutions, which situation the loans and obtain an SBA ensure.
The agency, established in 1953, also presents packages to help small enterprises get federal contracting alternatives and cash neighborhood centers exactly where business owners obtain counseling, technological assistance and other assist. Via its Place of work of Advocacy, the SBA also aims to progress small-small business pursuits in the course of the federal govt.
The relatively compact paperwork played a key position in the federal government’s response to the coronavirus pandemic. The SBA administered the preferred Paycheck Safety Software, which furnished coronavirus help in the variety of forgivable loans to smaller firms, nonprofits and self-utilized business people.