President-Elect Joe Biden Selects Isabel Guzman to Lead the SBA

As President-elect Joe Biden continues to fill out his cupboard, he is anticipated to select Isabel Guzman to the highest job on the U.S. Small Enterprise Administration.

The Wall Avenue Journal reported on Thursday that Guzman, a former deputy chief of employees on the SBA beneath the Obama administration, would change Jovita Carranza as administrator. Underneath Obama’s tenure, the position was elevated to a cupboard stage job, an indication of the import of small companies to the nation. 

Whereas Inc. has but to take a seat down with the incoming administrator instantly, Guzman, a Latina, is extensively thought of to be as much as the duty of working an company that has change into more and more important for the well being and wellness of the nation’s hundreds of thousands of small companies.

“I do not know her effectively, however primarily based on my different small enterprise colleagues who do, in addition to her repute typically, Isabel [Guzman] shall be a stable match to guide the SBA,” says Karen Kerrigan, president of the Small Enterprise & Entrepreneurship Council, a nonpartisan advocacy group in Vienna, Virginia. Guzman, Kerrigan provides, is a powerful advocate for small companies and entrepreneurs, and she or he understands the extraordinary challenges dealing with small companies proper now.

These challenges are certainly steep. Whereas Administrator Carranza shepherded the SBA by way of the pandemic and overcame the uneven roll-out of the Paycheck Safety Program, the forgivable mortgage program that helped greater than 5 million U.S. small companies lasso $525 billion in assist, the work is way from over. As many as 4 million U.S. companies are anticipated to have closed in 2020, in keeping with Ray Greenhill, president and founding father of Oxxford Data Know-how, an info providers agency in Hagaman, New York, which tracks about 32 million companies. And the newest Covid-19 aid program is poised to kick off any day. The renewed PPP, which gives $284 billion in mortgage funding for U.S. small companies, is anticipated to be extra advanced than Spherical 1, because it permits a second-draw for corporations with important income losses. That is on prime of hundreds of thousands of companies needing to use for mortgage forgiveness and the slate of different assist applications manned by the SBA instantly. 

However Guzman has demonstrated enthusiasm and a excessive metabolism for the work wanted to assist entrepreneurs and small companies. After a stint within the SBA beneath the Obama administration, she served because the director of California’s Workplace of the Small Enterprise Advocate. There she most helped implement a grant program for companies affected by the pandemic. 

Previous to becoming a member of the SBA, Guzman based two companies, together with GovContractPros, a authorities contractor consulting agency in Chevy Chase, Maryland, which boasts on LinkedIn of serving to “authorities contractors entry and navigate the $500 billion federal market with confirmed experience.” Earlier in her profession, she had labored in strategic initiatives at ProAmerica Financial institution, a industrial financial institution in Los Angeles for small and midsize corporations in search of development capital. Former SBA Administrator Maria Contreras-Candy is the founding father of ProAmerica Financial institution.

Guzman’s LinkedIn profile additional says she’s an alumna of the College of Pennsylvania the place she obtained her Bachelor’s diploma from the Wharton College of Enterprise.

Whereas Kerrigan and her colleagues are fast to supply an appraisal of Guzman, in addition they had some alternative recommendation: “It’s essential that the following SBA chief discover a approach to interact with leaders of the small enterprise group and associations frequently,” says Kerrigan. Her reasoning: by giving the small enterprise group a seat on the desk, she’d be doing simply what Obama did by giving the SBA a seat in his cupboard. “Isabel [Guzman] has confirmed that she is adept at this sort of engagement and inclusiveness, and I hope she continues to observe these attributes as soon as confirmed as SBA Administrator,” provides Kerrigan.

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