With Linda McMahon set to retire as the head of the Small Business Administration (SBA) on April 12th, all eyes are on President Trump’s nomination for her replacement. He has named Republican Jovita Carranza, current treasurer at the Department of the Treasury to fill the role. What do we know about Carranza? Here is a rundown of what new outlets and the Trump Administration have shared so far:
1. She is not new to the SBA.
Carranza served as the Deputy Administrator for the SBA from 2006 to 2009 under President George W. Bush. Her confirmation was unanimous. Her duties included the oversight of 80+ U.S. field offices and the various business loans, investments, and disaster aid packages available to small businesses through the SBA. (The total portfolio of SBA assets to disperse was almost $80 billion.)
2. She has business experience.
Before her time at the SBA, she was the founder of JCR Group, a supply-chain management business. Her experience in logistics started long before that, however, with her 20-year tenure at the United Parcel Service (UPS.) A White House bio mentions her journey from overnight, part-time worker to the president of Latin America and Caribbean operations. She had been credited as the highest-ranking Latina in UPS history at the time of her promotion.
3. She is a Chicago native with community ties.
Carranza was born in Illinois and grew up with her immigrant family in Chicago before becoming involved with both local and national organizations and charities. Her board roles include the Illinois Enterprise Zone Advisory Board, The American Cancer Society Corporate Advisory Board, National Center for Family Literacy, U.S. Small Business Administration—Service Corps of Retired Executives (SCORE), Trustee Chair at the School of Business Council at Alverno College, and the United Way.
4. She has achieved high honors.
Carranza’s confirmation would result in her holding the highest office for a Latina within the Trump administration, but she had clout long before the nomination. Her awards include:
- 2004 Woman of the Year by Hispanic Business Magazine
- 2008 Woman of Distinction by the American Association of University Women and NASPA
- Honorary Alumna for Alverno College Albert Schweitzer Leadership Award
- 2008 recognition for contributions to the Hispanic community and national public service by The Latino Coalition Leadership
5. She has relevant educational experience.
As an MBA earner from the University of Miami in Coral Gables, her executive and management training includes time at the INSEAD Business School in Paris, Michigan State University, and the University of Chicago.
If confirmed, she will leave a hole in the Treasury Department but will be installed in the SBA in time for their annual National Small Business Week, taking place on May 5 – 11. Activities for the special event include hackathons, awards, Twitter chats, and virtual trainings.
There is no formal word on who would be Carranza’s Treasury replacement at this time.