Mills leads a team of 3,000 employees whose mission is to help entrepreneurs and small business owners grow and create jobs by providing greater access to capital, counseling, federal contracting opportunities, disaster assistance and more. Among its priorities, the SBA has a portfolio of more than $90 billion in loan guarantees. Each year, the agency helps leverage nearly $100 billion in federal contracts to small businesses and supports free counseling and technical assistance to more than 1 million entrepreneurs. In addition, SBA provides disaster assistance to homeowners, renters, and businesses with the help of 2,000 additional on-call employees.
Throughout her career, Mills has owned, managed, mentored, and invested in small and growing businesses across the country.
As an investor and owner, she helped several small manufacturers improve their competitiveness and ultimately survive the downturn of the early 1990s. This included producers of hardwood flooring, refrigerator motor manufacturers, plastic injection molding companies, and more. More recently, she was President of the MMP Group, which invested and grew businesses in sectors such as consumer products, food, textiles, and industrial components.
In 2007, Maine Gov. John Baldacci appointed Mills to chair the state’s Council on Competitiveness and the Economy, where she focused on attracting investment in rural and regional development initiatives, including a regional economic cluster with Maine’s boatbuilding industry. She also served on the Governor’s Council for the Redevelopment of the Brunswick Naval Air Station.
In her current position, Mills has helped expand access to capital through SBA lending, increase small business’ share of federal contracts, strengthen SBA’s network of more than 14,000 affiliated counselors, and oversee critical disaster assistance operations across the country.
Mills earned an A.B. in economics from Harvard University and an M.B.A. from Harvard Business School where she was a Baker Scholar. Additionally, she served as a member of the Council on Foreign Relations and was vice chairman of the Harvard Overseers.
She and her husband, Barry Mills, president of Bowdoin College, live in Brunswick, Maine. They have three sons.
Karen Mills's Posts
- August 30, 2010 at 2:44 PM EDT
Karen Mills, Administrator of the Small Business Administration, discusses the importance of passing the Small Business Jobs Act currently before the Senate to help small business owners get the loans they need to grow and hire.
- August 26, 2010 at 1:02 PM EDT
SBA’s disaster loan programs are a critical piece of the federal government’s overall response in the wake of disasters. As part of the ongoing series on Hurricane Katrina, Administrator Karen Mills discusses the vast improvements the agency has made in the past five years and her continuing commitment to strengthening the program.
- July 21, 2010 at 12:16 PM EDT
The Affordable Care Act will address many of the concerns of entrepreneurs and small business owners, including improving the nation’s existing health care system, lowering costs and providing significant benefits for small businesses.
- May 17, 2010 at 9:00 AM EDT
SBA Administrator Karen Mills discusses more details on the ways small businesses will benefit from health insurance reform.
- March 30, 2010 at 5:56 PM EDT
Join Secretary Kathleen Sebelius and SBA Administrator Karen Mills during a live chat to get answers to your questions about health reform.
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