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United States Karen Mills has held significant leadership roles in both the private sector and government, including serving as the Administrator of the U.S. Small Business Administration, and is recognized for her expertise in US competitiveness and entrepreneurship.
Karen Mills served as the 23rd Administrator of the U.S. Small Business Administration from 2009 until 2013, leading a team of 3,000 employees and managing a loan guarantee portfolio exceeding $100 billion. She spearheaded initiatives to help entrepreneurs and small business owners access capital, counseling, and federal contracting opportunities. Her work included implementing provisions of the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010, which resulted in record-breaking lending and significant federal contracts for small businesses.
After her tenure at the SBA, Karen Mills became a Senior Fellow at the Harvard Business School. In this role, she conducts research and provides recommendations on U.S. competitiveness, entrepreneurship, and innovation, focusing on topics like small business lending, fintech, and the link between entrepreneurship and middle-class opportunity.
Karen Mills is a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School, where her work focuses on U.S. competitiveness, entrepreneurship, and innovation.
Karen Mills served as President of the MMP Group, an investment firm focused on growing businesses in sectors such as consumer products, food, textiles, and industrial components.
Karen Mills was a founding partner and managing director of Solera Capital, a New York City-based venture capital firm that invested in women-owned firms, including the natural food producer Annie's.
In 2007, Maine Governor John Baldacci appointed Karen Mills to chair the state's Council on Competitiveness and the Economy, where she concentrated on attracting investment in rural and regional development initiatives, including the regional economic cluster with Maine's boatbuilding industry.
Karen Mills authored a paper on regional innovation clusters for the Brookings Institution in April 2008, drawing on her experience with initiatives like the North Star Alliance in Maine.
Karen Mills serves as the vice chair of the board of directors for the National Bureau of Economic Research.
Karen Mills was a member of the Milstein Commission on Entrepreneurship and Middle Class Jobs at the University of Virginia’s Miller Center and contributed to its 2015 report, "Can Startups Save the American Dream?"
Karen Mills is a member of the board of directors for Skillsoft.
Karen Mills previously served as vice chairman of the board of the immigration services company Envoy Global.
Karen Mills served on the board of the Maine Technology Institute, a nonprofit organization that invests in local technology companies and innovative small businesses.
Karen Mills previously served as a vice chairman of the Harvard Board of Overseers.
In 2014, Karen Mills was elected to fill a vacancy in the Harvard Corporation, the University's smaller governing body and principal fiduciary authority.
Karen Mills participated in "Women Rule" events hosted by POLITICO, Google, and the Tory Burch Foundation, where she discussed the importance of public and private partnerships in supporting small businesses.
Karen Mills participated in "Women Rule" events hosted by POLITICO, Google, and the Tory Burch Foundation, where she discussed the importance of public and private partnerships in supporting small businesses.
Karen Mills, born on September 14, 1953, has established a career marked by leadership in both business and public service. She earned an A.B. in economics from Harvard University and an M.B.A. from Harvard Business School, where she was honored as a Baker Scholar. Her early career included roles as a management consultant for McKinsey and Co. in the U.S. and Europe, and as a product manager for General Foods. During the 1980s and 1990s, Mills invested in and managed several small manufacturing firms, including producers of hardwood flooring, refrigerator motors, and plastic injection molding companies. Later, she served as president of MMP Group, a private equity firm that invested in businesses across various sectors such as consumer products, food, textiles, and industrial components. She was also a founding partner and managing director of Solera Capital, a venture capital firm that supported women-owned businesses like Annie’s.
From 2009 to 2013, Mills served as the 23rd Administrator of the U.S. Small Business Administration (SBA) under President Barack Obama. Her appointment was unanimously confirmed by the Senate, and her position was elevated to a Cabinet-level officer in 2012. During her tenure, she focused on expanding access to capital, increasing federal contracting opportunities for small businesses, and boosting entrepreneurial development and disaster relief efforts. She oversaw the implementation of key provisions from the American Recovery and Reinvestment Act of 2009, which significantly increased SBA-backed lending, and championed the Small Business Jobs Act of 2010. These efforts led to record-breaking years for SBA lending and investments, supporting over $106 billion in loans to more than 193,000 small businesses and securing $286.3 billion in federal contracts for small businesses from 2011–2013. Mills also initiated the Impact Fund pilot program to capitalize investment funds with both financial and social returns, and launched the SBA’s first regional clusters initiative.
After leaving the SBA, Mills continued her work in entrepreneurship and economic development as a Senior Fellow at Harvard Business School and Harvard’s John F. Kennedy School of Government. She has authored several publications, including “Fintech, Small Business & the American Dream” (2018), which explores the impact of technology on lending and small business opportunities. A second edition of her book was published in 2024, addressing the economic impact of the COVID-19 pandemic and the growth of new financial products. Mills remains active in policy and research, serving as vice chair of the board of directors of the National Bureau of Economic Research and as a member of the Council on Foreign Relations. She also contributed to the Milstein Commission on Entrepreneurship and Middle Class Jobs, advocating for policies that support startup growth and economic mobility.
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