
The U.S. Senate has confirmed Kelly Loeffler, a Georgia businesswoman and former senator, to lead the Small Business Administration. Loeffler, a staunch supporter of President Donald Trump, will now oversee the Small Business Administration (SBA), which is the only Cabinet-level federal agency dedicated entirely to small businesses. Established in 1953, the SBA provides counseling, capital, and contracting expertise to small businesses across the nation.
One of the key services offered by the SBA is the provision of Economic Injury Disaster Loans, which help small businesses meet working capital needs caused by disasters. These loans can be used to pay fixed debts, payroll, accounts payable, and other expenses that arise due to unforeseen disasters.
Loeffler's confirmation was approved by the Senate with a 52-46 vote. She previously served briefly in the U.S. Senate during the final year of President Trump's first term, filling the seat of Johnny Isakson. Loeffler, known for her close alignment with Trump, faced a tough reelection campaign in 2020, ultimately losing to Raphael Warnock in the January 2021 runoffs.
Following her defeat, Loeffler has been actively involved in conservative voter registration efforts and GOP fundraising. She has emerged as one of the top individual donors and bundlers for Trump's potential 2024 comeback campaign.
Loeffler's confirmation adds another member of significant wealth to Trump's administration. Married to Jeffrey Sprecher, CEO of Intercontinental Exchange, Loeffler is a former WNBA owner and executive, and was the Senate's wealthiest member during her brief tenure in Capitol Hill.
Georgia, Loeffler's home state, remains crucial for both Trump and the Republican Party nationally. The state's election results played a pivotal role in determining the balance of power in the Senate, with the Democrats gaining control by a narrow margin following the January runoffs.