Former Senator Loeffler becomes small business chief

Listen To Story Above

In a significant development on Wednesday, Kelly Loeffler secured confirmation as the Small Business Administration leader through a bipartisan Senate vote of 52-46, completing President Trump’s cabinet appointments at 18 members.

The confirmation saw Nevada Democratic Sen. Jacky Rosen joining forces with 51 Republicans to support Loeffler’s nomination, while 46 Democrats opposed. Two Republican senators, Jerry Moran of Kansas and Dan Sullivan of Alaska, were absent from the vote.

Loeffler, who previously served as a Republican senator, will now oversee the agency’s $1 billion budget, directing various initiatives including loans, grants, and financial guidance for small-business owners across the country.

✅ CONFIRMED: Kelly Loeffler as Administrator of the Small Business Administration. 52-46!

/div>

As always, President Trump is 100% putting America First!

LFG🔥🔥🔥 pic.twitter.com/q6ub8qbtFx

— AJ Huber (@Huberton) February 19, 2025

Before her political career, Loeffler, whose net worth approaches $1 billion, held an executive position at Intercontinental Exchange. She later served in the US Senate, completing the remainder of the late Sen. Johnny Isakson’s term. Her Senate tenure ended following a loss to Democratic Sen. Raphael Warnock in a January 2021 Georgia runoff, despite her strong alignment with Trump and campaign messaging that portrayed her as “more conservative than Attila the Hun.”

Her connections to the financial sector extend through her husband, Jeff Sprecher, who leads Intercontinental Exchange as CEO and chairs the New York Stock Exchange.

During her confirmation hearing before the Senate Small Business Committee, Loeffler outlined her vision to support Trump’s agenda for economic growth. She committed to charitable donation of her entire SBA administrator salary, exceeding $200,000 annually, following her previous practice of donating her $174,000 Senate salary from 2019 to 2021.

Small Business Committee Chairwoman Joni Ernst (R-Iowa) stated, “Sen. Loeffler is immensely qualified for this role,” adding, “As a successful businesswoman, it is abundantly clear that Senator Loeffler truly understands what it takes to be an entrepreneur and will be an effective voice for small businesses across America.”

A huge honor to be at the Capitol today as my former Senate colleagues voted to confirm me as the 28th Administrator of the U.S. Small Business Administration.

Profoundly grateful to @POTUS for the trust he’s placed in me to help advance his America First agenda – and unleash a… pic.twitter.com/IduMw3hFXj

— Kelly Loeffler (@KLoeffler) February 19, 2025

Loeffler’s past attracted scrutiny when she and her spouse sold substantial stock holdings as the COVID-19 pandemic emerged, following her attendance at a Senate Intelligence Committee briefing alongside other senators, including then-chairman Richard Burr.

The SBA, established under President Eisenhower in 1953, plays a crucial role in supporting businesses affected by natural disasters, making Loeffler’s appointment particularly relevant given recent wildfires in California and East Coast hurricanes.

Senate Majority Leader John Thune (R-SD) emphasized Loeffler’s small business background, stating, “Small business is in Kelly Loeffler’s blood. She grew up on her family’s fourth-generation farm in Illinois. In addition to the farm, her dad ran a small trucking company. And as a young woman, Kelly Loeffler worked in the soybean fields and waited tables at small restaurants in the heartland. And she was the first person in her family to graduate from college before embarking on a successful career in business herself.”