Karen Mills

Karen Mills served as the 23rd Administrator of the U.S. Small Business Administration (SBA) from 2009 to 2013 under President Barack Obama, an appointment unanimously confirmed by the Senate. Her position was elevated to a Cabinet-level officer in January 2012, recognizing her impactful leadership in expanding access to capital, increasing federal contracting opportunities, and boosting entrepreneurial development. During her tenure, Mills oversaw the implementation of key provisions from the American Recovery and Reinvestment Act of 2009, which significantly increased SBA-backed lending, and championed the passage of the Small Business Jobs Act of 2010.

In 2007, she chaired Maine’s Council on Competitiveness and the Economy. After her impactful service at the SBA, which concluded in September 2013, Mills continued her dedication to entrepreneurship and economic development as a Senior Fellow at both Harvard Business School and Harvard’s John F. Kennedy School of Government. She authored the highly regarded book ‘Fintech, Small Business & the American Dream’ in 2018, which critically examines the influence of technology on lending and opportunities for small businesses.

Mills is also an active contributor to policy and research, serving as vice chair of the board of directors of the National Bureau of Economic Research and as a distinguished member of the Council on Foreign Relations. Her commitment to advancing economic understanding and opportunity remains strong, evidenced by the publication of the second edition of ‘Fintech, Small Business & the American Dream’ in 2024. This updated edition delves into the economic repercussions of the COVID-19 pandemic and the expansion of new financial products. Additionally, Mills contributed to the Milstein Commission on Entrepreneurship and Middle Class Jobs, advocating for policies to support startup growth and economic mobility.

For her exceptional contributions, she is also a recipient of the U.S. Navy’s Distinguished Public Service Award.