SBA head: Agency will avoid major blow from cuts

Published on NewsOK Modified: February 22, 2013 at 2:46 pm •  Published: February 22, 2013
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"We are not slowing down giving loans to anyone," Mills said.

Mills says that many small businesses have already felt the impact of the budget cuts that are known, in congressional parlance, as sequestration. She noted that contracts at the Pentagon, the agency that has the biggest federal contracting budget, were down sharply in December in anticipation of the budget cuts.

"Small businesses suffered a large part of that because spending was delayed in anticipating of sequestration, and so they didn't get their contracts," she said.

Mills announced last week that she plans to leave the SBA this year, but would stay in her post until a successor is chosen and sworn in. She declined Friday to speculate on who that might be. Mills, who worked for private equity firms before coming to the SBA in 2009, said she's undecided about what she'll do next.