OAN Staff James Meyers
1:51 PM – Wednesday, February 19, 2025
The Senate has confirmed former Senator Kelly Loeffler in a 52-46 vote to lead the Small Business Administration (SBA).
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Loeffler, a prominent business executive and philanthropist, was confirmed in Wednesday’s confirmation vote. The former Senator discussed plans during her confirmation hearing to reduce regulatory burdens on small business owners, and give more access to SBA-backed loans and grants.
“America’s entrepreneurs are one of our greatest assets and they have a big role to play in our future prosperity. Senator Loeffler will be their champion,” Senate Majority Leader John Thune (R-S.D.) said on the floor ahead of her vote.
The role of the agency is to provide small business owners with expertise in counseling, capital and contracting to advance their businesses.
She also appeared before the Senate Small Business and Entrepreneurship Committee on January 28th to discuss her vision and said that the 47th president’s policies would “restore the small business economy” that would lead to a “golden era of prosperity and growth.”
“That’s exactly what the America First agenda does — by ending inflation, cutting taxes, unleashing American energy dominance, slashing regulation, and reining in fraud, waste, and abuse across government,” Loeffler said in her opening speech.
She and her husband, Jeff, created a Fortune 500 financial services and tech company together. Loeffler also said that she would donate her annual $207,500 salary as SBA administrator to charity.
The appointed SBA administrator’s net worth is close to $1 billion, and during her time as Senator, between 2019 and 2021 she donated her annual salary of $174,000 to over 40 Georgia charities and nonprofits.
The Senate voted early Thursday morning by a 51-43 margin to advance Loeffler’s nomination for the final confirmation vote.
Chair of the Senate Small Business and Entrepreneurship Committee Senator Joni Ernst (R-Iowa), supported Loeffler’s nomination, noting Loeffler’s “zero-tolerance policy for waste, fraud and abuse” within the agency.
“Senator Loeffler is immensely qualified for this role,” Ernst said on the Senate floor Thursday. “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.”
Loeffler received pushback from ranking member of the Senate Small Business and Entrepreneurship Committee Senator Ed Markey, (D-Mass.) saying he was concerned that her nomination would help DOGE “illegally cut off funding” for small business owners.
Markey and Loeffler also went to blows during her confirmation hearing in January after the Trump administration announced on January 27th that they were freezing federal funds and grants.
“I fully agree with President Trump’s decision to stop wasteful spending,” Loeffler told Markey. “It resulted in a landslide victory that many Americans were waiting for relief against excessive government spending.”
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