Linda McMahon is leaving her job as head of the Small Business Administration. Politico reports McMahon will step down as Administrator of SBA.
Linda McMahon to Step Down
This is not a performance-based move. Instead, Trump wants McMahon to head a political action committee for his re-election.
Even though McMahon only stayed a little over two years as head of the SBA, she was the one constant in the Trump administration.
She was also able to stay below the radar, unlike some members of Trump’s cabinet.
There is no word right now on a potential replacement.
The SBA Under Linda McMahon
McMahon was head of SBA for about two years. In February, she marked her two-year anniversary on the job with a post highlighting SBA accomplishments and challenges during her tenure.
“Over the past two years, I have been very proud to be part of the SBA family as well. The team welcomed me with kindness and enthusiasm, and their experience and knowledge have been invaluable to my leadership of this Agency,” she wrote.
She called out the SBA Ignite Tour in which she visited the numerous field offices around the country. And then the SBA Reimagined program aimed to get all those offices delivering a similar message.
Hurricane and Other Disaster Assistance
McMahon says the SBA has approved 144,000 low-interest loans worth more than $7.3 billion to hurricane recovery efforts in the 2017-18 hurricane seasons.
The SBA says it approved more than 65,000 loans worth more than $30 billion last year. Those loans, McMahon says, helped create 670,000 jobs in 2018.
The Appointment to the SBA
On December 8, 2016 Linda McMahon tweeted she was the new head of the SBA.
President-elect Donald Trump appointed her before he officially stepped into the White House. And she was officially confirmed for the job in February 2017. His appointment made her the fifth woman to head the department.
Mrs. McMahon was better known for running World Wrestling Entertainment or WWE with her husband Vince McMahon. When the company went public, it made the couple billionaires.
But she had political ambitions. In 2009 she stepped down as CEO of WWE to run for the U.S. Senate in Connecticut as a Republican. She lost and tried again in 2012, with the same result.
McMahon became a major booster for Donald Trump after she ran for office. She and her husband personally donated millions of dollars to his foundation and later on to his campaign for the Presidency.
The Importance of the Small Business Administration
The SBA supports the more than 32 million small business in the US so they can thrive. Since it was first created in 1953, it has helped entrepreneurs achieve their dreams by providing valuable resources.
The goal of the SBA was and is today to counsel, assist and protect the interests of small business issues. Simply put, it helps Americans start, build, and grow businesses. It does this by providing millions of loans, loan guarantees, contracts, and other forms of assistance.