One of the U.S. Small Business Administration’s lending and investment experts will assume the agency’s top role when the current administrator steps down at the end of the month.
Jeanne Hulit, the SBA’s Associate Administrator and head of the Office of Capital Access, will take over for Administrator Karen Mills, according to a letter obtained by On Small Business that Mills is preparing to send to staff today. Mills announced last month that she was departing at the end of August.
“For the past four years Jeanne has been an important leader at the SBA both in the field and here at headquarters,” Mills wrote in the letter, adding that Hulit “led the charge to streamline and simplify SBA’s loan programs and expand access to our lending programs.”
“Under her leadership, the agency and America’s 28 million small businesses will be in good hands,” she added.
Hulit was named to her current post in February 2012, where she oversees the agency’s efforts to help entrepreneurs and small business owners gain better access to capital. Her responsibilities include many of the department’s loan and investment programs.
Hulit previously served as the regional administrator for the New England SBA.
Mills announced her resignation early this year and initially planned to stay in place until the administration found a replacement. Nearly six months later, however, with no successor chosen, she informed staff she would be leaving to take roles at both Harvard Business School and Harvard’s Kennedy School of Government.
The SBA vacancy is the last open seat on President Obama’s second-term Cabinet for which he has yet to put forth a nomination.
“We continue to work closely with the White House on the appointment of my permanent successor,” Mills wrote in her letter on Tuesday.