On September 3, 2014, Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration, discussed "Empowering Entrepreneurs Across the L.A. Basin" in her first public address to the Los Angeles business community as Administrator. Contreras-Sweet discussed her vision for the SBA and the role of small business in California's economic recovery. Her goals for the SBA are summed up in her initative title: "Smart, Bold, Accessible." Contreras-Sweet discussed new smart systems at the SBA that increases access to capital for entrepreneurs and drives the bold innovations that make California's and the nation's economy one of the strongest in the world.
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"We measure our success by tracking the revenue gains and job gains that result from these new initiatives. ??Programs that don???t deliver on these metrics are transformed, or we???re eliminating them. ??Our largest lending program, the 7(a), and by the way, I???m gonna come up with a new name for that one. ??I was recently in Silicon Valley, and they said, ???Tell us about what you do, and I said, ???We put out two loans, the 7(a) and the 504, and they said, ???The what? ??So yes, I???ll be coming back to you with some ideas about new names, but these loans, the 7(a), they???re not costing taxpayers a dollar, a dime, a penny. ??We know small businesses must do more with less. ??The SBA must lead with example."
