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Washington Watch
July 31, 2001
NASE Looks Forward To Working With New SBA Administrator
The National Association for the Self-Employed applauds the approval of Hector
Barreto, Jr. as the new Administrator of the
Small Business
Administration. The NASE believes that his experience
as a successful small-business owner will serve him well when he oversees the SBA’s benefits and programs.
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The Senate voted last week to confirm Barreto’s appointment as head of the SBA, following a favorable report from the
Small Business and Entrepreneurship
Committee. "I'm pleased with Mr. Barreto's small business roots and admire his efforts to empower Hispanic Americans to share in our country's economic vitality," said
Sen. John Kerry
(D-Mass.), chairman of the Senate's Small Business and Entrepreneurship committee. "I hope he will bring the insights gained from his experiences to his leadership at the SBA."
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SBA
Administrator
Hector Barreto, Jr.
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President Bush nominated Barreto, 39, for the post on Feb. 26. Barreto is expected to be sworn in Thursday and begin filling senior agency position vacancies. A native of Kansas City, Mo., he is the son of Mexican immigrants who became small-business owners and advocates. In 1986, he founded Barreto Insurance & Financial Services, Inc. in Los Angeles, which specializes in creating financial plans for both the business and private sectors. He later started a securities broker-dealer firm specializing in retirement planning called Telacu/Barreto Financial Services, Inc. and headed the Latin Business Association in Los Angeles. His father founded the U.S. Hispanic Chamber of Commerce, of which Barreto now serves as vice-chairman.
Barreto has not discussed in depth his list of priorities as SBA Administrator. He has mentioned focusing on improving access to capital through loans and venture capital programs and reducing the burden of overly cumbersome regulations for small businesses.
The NASE looks forward to working with Barreto and the SBA to promote and protect the interests of small business and the self-employed.
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