Administrator, Small Business Administration
By unanimous vote, the U.S. Senate confirmed Hector V. Barreto as the 21st Administrator of the U.S. Small Business Administration on July 25, 2001. President Bush nominated him to the post.
As SBA Administrator, Mr. Barreto directs the delivery of financial and business development programs to America's entrepreneurs. With a portfolio of direct and guaranteed business loans and disaster loans worth more than $45 billion, SBA is the nation's largest single financial backer of small business.
Mr. Barreto has a long history in the corporate sector and the small business community. He's also distinguished himself as a passionate advocate for small businesses.
As a young man, he helped his father manage a family restaurant, an export/import business and construction company. After receiving his B.S.B.A. degree in Management from Rockhurst University in Kansas City, MO., he worked for the Miller Brewing Company as the South Texas Area Manager. In 1986, he moved to California and founded Barreto Insurance and Financial Services, responding to the need for financial services for Southern California's rapidly growing population. He later launched an additional business as a securities broker/dealer specializing in retirement plans.
Mr. Barreto is past chairman of the board for the Latin Business Association in Los Angeles. During his term, he increased membership by 50 percent, doubled revenues and increased procurement opportunities for the membership. He also founded a small business institute/incubator, which provides technical assistance, education and development opportunities to small businesses.
Prior to becoming SBA Administrator, Mr. Barreto served as vice chairman of the board for the U.S. Hispanic Chamber of Commerce.
Mr. Barreto has received special recognition from the U.S. Congress, the California State Senate and Assembly, the County of Los Angeles, YMCA and American Red Cross. Hispanic Business Magazine has recognized him as one of America's "100 Most Influential Hispanics."
Mr. Barreto is a native of Kansas City, Missouri. He and his wife Robin have a son and two daughters.