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President-elect Donald Trump announced Wednesday that former Sen. Kelly Loeffler will be his nominee to lead the Small Business Administration (SBA), praising her business acumen and dedication to cutting government red tape.
“Kelly will bring her experience in business and Washington to reduce red tape and unleash opportunity for our small businesses to grow, innovate, and thrive,” Trump wrote on Truth Social. He emphasized that Loeffler’s priorities will include cracking down on waste, fraud, and regulatory overreach. Loeffler will also serve as co-chair of Trump’s upcoming inauguration.
Loeffler’s appointment marks a return to public service for the former Georgia senator, who briefly represented her state in 2020 after being appointed by Gov. Brian Kemp. Despite losing her seat to Democratic Sen. Raphael Warnock in a closely watched runoff in 2021, Loeffler remained a staunch Trump ally. She notably supported Trump’s efforts to challenge the 2020 election results, although she later withdrew her objections following the January 6 Capitol attack, calling the violence “abhorrent.”
Trump’s announcement follows speculation that Loeffler was in consideration for Agriculture secretary, a role ultimately offered to Brooke Rollins. Loeffler’s fundraising prowess and close ties to Trump’s campaign helped secure her SBA nomination. Over the summer, she co-hosted a debate watch party alongside Republican National Committee Chair Michael Whatley, raising millions for Trump’s campaign.
During her tenure in the Senate, Loeffler was among the wealthiest lawmakers, largely due to her husband, Jeffrey Sprecher, who serves as CEO of the Intercontinental Exchange, which owns the New York Stock Exchange. In response to criticism over stock trades during the early stages of the COVID-19 pandemic, Loeffler and Sprecher announced their divestment from individual stocks.
Loeffler’s experience extends beyond politics. Before her Senate appointment, she held executive roles in the financial services industry in Atlanta and co-owned the WNBA’s Atlanta Dream. Her nomination as SBA head will require Senate confirmation.
Linda McMahon, a major Republican donor, previously led the SBA during Trump’s first term before resigning in 2019 to chair America First Action, a pro-Trump super PAC. Loeffler is expected to continue Trump’s focus on fostering small business growth while emphasizing fiscal responsibility within the agency.
Loeffler’s confirmation could face scrutiny due to her past political controversies, including her involvement in Trump’s post-election efforts in Georgia, where she testified before a grand jury in the state’s investigation into election subversion.
Despite these challenges, Trump and his team remain confident in Loeffler’s ability to lead the SBA. As Trump highlighted, “Her leadership will ensure that small businesses can thrive in an economy free from unnecessary government interference.”
