President Obama is nominating California banker Maria Contreras-Sweet to head the Small Business Administration.
"Maria knows how hard it is to get started on a business. The grueling hours, the stress, the occasional self doubt," he stated.
Contreras-Sweet is the founder and chair of a Latino-owned community bank in Los Angeles. In a White House event, the President cited ongoing progress in the economic recovery and said small businesses are leading the way.
He said Contreras-Sweet is well-aware how difficult it is to start a small business and achieve success.