US President Barack Obama has said that he has nominated Maria Contreras-Sweet as the new ahead of the Small Business Administration.

The president said that Contreras-Sweet understands what is required by the small businesses and how can they contribute better to the national economy.  California businesswoman, Contreras-Sweet has been working with small businesses as the founder of a Latino-owned community bank and a former California cabinet secretary.  She was a cabinet secretary in California when she led its Business, Transportation and Housing Agency from 1999-2003.

President Obama also said that she is aware that the lack of capital could limit growth for businesses in the US economy.  Contreras-Sweet was introduced by President Barack Obama on Monday as his choice for the job role.  Contreras-Sweet will succeed Karen Mills if her appointment is confirmed by the US Senate.  She has been an advocate for Hispanics in the US.  She was born in Mexico and immigrated to the US along with her family at the age of 5 years.

"Maria, on the way in, told me a wonderful story about how her grandmother, back in Mexico who was a migrant worker, said to her that if she worked hard, studied, stayed in school, that someday she'd be able to work in an office as a secretary and really make her proud.  And she ended up being the Secretary of Business Development and Transportation in California.  And now she's going to be helping the folks who are following behind her achieve their dreams.  That's what America is all about," Obama said.