New SBA Administrator Sworn

The U.S. Small Business Administration swore in Steven C. Preston as Administrator Monday in Washington D.C. Preston will succeed Hector V. Barreto as the 22nd Administrator of the SBA, since it was founded in 1953. The U.S. Senate confirmed Preston unanimously on June 29. Preston said, “I am grateful to President Bush for the opportunity to serve in a way that so directly affects the lives of so many Americans.” “I am also humbled by the bipartisan support I have received in Congress and am committed to fostering a strong relationship with the many stakeholders of the SBA,” said Preston. Preston is formerly a business executive with a background in financial management and executive leadership. He was most recently executive vice president and CFO of the ServiceMaster Company, a franchising organization with a large small business network. Prior to that, Preston held positions as senior vice president and treasurer of First Data Corp. and he served as an investment banker at Lehman Brothers.