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SBA head resigns
Hector Barreto steps down after being the target of constant complaints following Hurricane Katrina.
(CNN) - Hector Barreto announced Tuesday he was resigning as head of the Small Business Administration in order to lead a Hispanic organization. His agency and his leadership of the agency had come under fire from key members of Congress as well as business and political leaders in Louisiana and elsewhere on the Gulf Coast who said the SBA was slow to provide help to businesses devastated by Hurricane Katrina. Last month, in an interview with CNN, Barreto defended his performance and said he had no plans to leave the agency. His office said Tuesday that he was not pressured by the White House to step down.
But senior administration officials said complaints about the SBA were constant, including direct appeals to President Bush during his visits to the Gulf Coast, and when CNN reported on the controversy in early March several senior officials said they expected a change at the agency soon. The Senate unanimously confirmed Barreto to the job in July 2001. His responsibilities included oversight of the delivery of financial and business development tools to entrepreneurs. His portfolio of direct and guaranteed business loans and disaster loans worth more than $45 billion made the SBA the largest backer of technical assistance and contracting opportunities for the nation's small businesses, according to the White House. -----------------
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