Obama appoints Maria Contreras-Sweet to lead Small Business Administration

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On Wednesday President Barack Obama officially appointed Maria Contreras-Sweet to head the Small Business Administration in a special ceremony at the White House.

"She's the founder of ProAmérica Bank, the first Latino-owned business bank in California in over 30 years,"Obama said when introducing her to the press. "Its focus is small and medium-sized businesses in Latino neighborhoods. So not only did she start small businesses, but those have also been her customers, and she understands all too often that the lack of access to capital means a lack of opportunity.

"As Secretary of the California Business, Transportation and Housing Agency, Maria was the driving force behind major job creation and major public investments in infrastructure and in housing. As a consultant, she helped companies expand into the Latino market. She's a champion of women-owned and family-owned businesses. When she started her bank, she said she wanted the bank to be a place where families would come for help."

According to her executive biography at Businessweek, Contreras-Sweet came to the United States at the age of five. After a meeting with a state employee while working in a jewelry store in high school, she then went to work for the Leo T. McCarthy, then Speaker of the California State Assembly, and was recognized for her zeal.

"Ms. Contreras-Sweet got to know every committee in the state government," the bio reads. She then majored in Political Science at California State University. She also worked as a field deputy for California Senator Joe Montoya.

After graduating she worked at Westinghouse before starting her own marketing and research consulting company. Later she would help to form Fortius Holdings, LLC and ultimately ProAmerica Bank.

Another position she held afforded President Obama to highlight a bit of irony in her personal life story.

"Maria, on the way in, told me a wonderful story about how her grandmother, back in Mexico who was a migrant worker, said to her that if she worked hard, studied, stayed in school, that someday she'd be able to work in an office as a secretary and really make her proud," Obama recalled. "And she ended up being the Secretary of Business Development and Transportation in California."

Contreras-Sweet was the first Latina Cabinet Secretary in U.S. history. She is also the Founding President of Hispanas Organized for Political Equality.