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Changes at the Small Business Administration

Date: 04/30/2006 | Category: Business | Author: Heather Long

The New York Times is reporting that Hector V. Barreto, the embattled head of the Small Business Administration, said on Tuesday that he would resign and take over a Hispanic advocacy group that has supported some of President Bush’s initiatives.

The Small Business Administration was sharply criticized in the months after Hurricane Katrina as taking too long to handle disaster loans to homeowners and companies trying to rebuild.

The New York Times reported in December, more than three months after the hurricane, that the agency had processed only one-third of the 276,000 applications it had received and had rejected 82 percent of those it reviewed.

 What will the change in leadership mean to the Small Business Administration? Only time will tell.

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