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Steven Preston -- Small Business Administration

Steven C. Preston was confirmed by the U.S. Senate by unanimous consent on June 29, 2006 as the 22 nd Administrator of the U.S. Small Business Administration. In this capacity, he oversees the delivery of financial and business development tools to America’s entrepreneurs. With a portfolio of direct and guaranteed business loans, venture capital investments and disaster loans worth almost $80 billion, SBA is the largest single financial backer and facilitator of technical assistance and contracting opportunities for the nation’s small businesses. Preston is passionate about the opportunity for relevant public service presented by the President’s nomination and the Senate’s confirmation. With almost 25 years of experience in financial and operational leadership positions, Preston is committed to serving the small business community. In his business experience as an executive and as an investment banker, Preston has been deeply involved in small businesses and recognizes the vital role they play in society. He has worked with investors and their portfolio companies on strategic and operational issues, helped franchisees become more effective through training, funding and business process support, worked directly with small companies seeking to tap into public and private capital markets and advised friends and family members. During the first half of his private sector career, Preston worked in investment banking and treasury management, where he was a senior vice president and treasurer of First Data Corporation, and an investment banker at Lehman Brothers. During this period, he advised companies on strategic issues, worked with them to gain access to capital, designed complex financial risk management strategies, evaluated investments and dealt with credit issues. Preston most recently served as Executive Vice President of The ServiceMaster Company, where he also served as chief financial officer during a period of expansion, restructuring and significant change in the regulatory environment. He worked extensively on initiatives to improve the customer experience and employee effectiveness through the use of process reengineering and technology. He currently serves as vice chairman of the Board of Visitors for the Weinberg College of Arts and Sciences at Northwestern University, and has served on numerous boards of philanthropic and other organizations. Preston graduated with Highest Distinction from Northwestern University with a political science degree, and received an MBA from the University of Chicago Graduate School of Business. He also has studied at the Ludwig-Maximilians-Universität in Munich, Germany. Preston and his wife, Molly have five children and currently reside in Virginia.

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