At SBA, Loeffler will oversee the entity that describes itself as the only Cabinet-level federal agency "fully dedicated to small business” by providing “counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.” Typically, the agency — which was founded in 1953 — offers Economic Injury Disaster Loans to help meet working capital needs caused by a disaster, loans that can be used to pay fixed debts, payroll, accounts payable and other expenses that would have been met if not for the disaster.
The Senate confirmed Loeffler on a 52-46 vote.
