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MBFC Summer 2009 Newsletter – In Your Best Interest
MBFC Fall 2008 Newsletter – In Your Best Interest
MBFC Summer 2008 Newsletter – In Your Best Interest
MBFC Spring 2008 Newsletter – In Your Best Interest
MBFC Fall 2007 Newsletter – In Your Best Interest
MBFC Spring 2007 Newsletter – In Your Best Interest
Minnesota Business Finance Corporation Sends Professionals to School
MBFC Fall Newsletter – In Your Best Interest
MBFC Summer Newsletter – In Your Best Interest
MBFC Spring Newsletter – In Your Best Interest
MBFC CEO Named SBA Financial Services Champion
Dance Pioneers Win SBA Entrepreneurial Success Award
MBFC Generates Record Amount of SBA 504 loans
$250,000 MBFC Grant Boosts Lakes Area Businesses
Steven C. Preston Sworn In As Administrator of SBA
WASHINGTON – Steven C. Preston was sworn in Monday as Administrator of the U.S. Small Business Administration.
Preston, nominated to the position by President Bush, is a former business executive with broad experience in financial management and executive leadership. He is the 22nd Administrator of the SBA since the agency’s establishment in 1953, succeeding Hector V. Barreto, who took office on July 25, 2001.
He was confirmed by the U.S. Senate by unanimous consent on June 29. The Senate Committee on Small Business and Entrepreneurship had unanimously recommended Preston’s confirmation earlier in the day.
“I am grateful to President Bush for the opportunity to serve in a way that so directly affects the lives of so many Americans,” Preston said. “I am also humbled by the bipartisan support I have received in Congress and am committed to fostering a strong relationship with the many stakeholders of the SBA.”
During his confirmation hearing on June 21, Preston emphasized the importance of sophisticated financial management, operational responsiveness and a customer service culture at the SBA. “None of this happens by accident,” he said. “It requires dogged focus to move the ball forward each and every day.”
Until recently, Preston was Executive Vice President of The ServiceMaster Company, a major franchising organization with thousands of small businesses in its network. Preston also had served as Chief Financial Officer. He previously had been Senior Vice President and Treasurer of First Data Corporation, and an investment banker at Lehman Brothers.
He currently serves as vice chairman of the Board of Visitors for the Weinberg College of Arts and Sciences at Northwestern University, and has served on numerous boards of philanthropic and other organizations.
Preston graduated with Highest Distinction from Northwestern University with a political science degree, and received an MBA from the University Of Chicago Graduate School Of Business. He also has studied at the Ludwig-Maximilians-Universität in Munich, Germany.
Preston and his wife, Molly have five children and will be relocating to the Washington, D.C., area.
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Minnesota Business Finance Corporation is a certified development company authorized by the SBA to originate SBA 504 loans. The SBA 504 loan program is economic development financing specifically designed to stimulate private-sector investment in long-term, fixed assets to increase productivity, create new jobs and increase the local tax base. For more information, visit www.mbfc.org.
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