[Weekly Compilation of Presidential Documents Volume 29, Number 11 (Monday, March 22, 1993)]
[Page 442]
[Online from the Government Publishing Office, www.gpo.gov]

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Nomination of Erskine Bowles To Be Small Business Administrator

 March 16, 1993

    President Clinton today announced his intention to nominate North 
Carolina businessman Erskine Bowles to head the Small Business 
Administration.
    ``Small business is the engine that runs the American economy. We 
need to give a hand up to the new businesses and traditional mom-and-pop 
stores that provide the jobs in our cities and small towns,'' the 
President said. ``Erskine Bowles will do an excellent job of making SBA 
a more efficient operation that works to strengthen the backbone of 
small business in this country.''
    As Administrator, Bowles will direct a comprehensive array of 
programs and services designed to promote and expand U.S. small 
businesses. He will provide day-to-day leadership in the development and 
implementation of policy and delivery of financial and business 
development programs through the Agency's nearly 100 offices nationwide.
    SBA was established in 1953 to help small businesses get started, 
stay in business, and grow. SBA has a portfolio of commercial loans and 
loan guarantees worth nearly $25 billion, making the Agency the largest 
single backer of small businesses in the Nation.

Note: A biography of the nominee was made available by the Office of the 
Press Secretary.