President-elect Donald Trump revealed on Wednesday that he has selected former Senator Kelly Loeffler to head the Small Business Administration (SBA). In a post on Truth Social, Trump highlighted Loeffler’s background in both business and politics, emphasizing that she would work to reduce bureaucratic obstacles and create more opportunities for small businesses to expand, innovate, and succeed. He also mentioned that she would prioritize holding the SBA accountable to taxpayers by addressing issues like waste, fraud, and excessive regulation. Additionally, Trump noted that Loeffler is serving as a co-chair for his inauguration.
There were multiple discussions between Kelly Loeffler and the transition team about the position of Agriculture Secretary, and reports indicated that Trump was initially set to offer her the role. However, Trump delayed making an announcement about the Agriculture pick while revealing several other appointments late last month. Ultimately, the position was offered to Brooke Rollins.
Kelly Loeffler, who briefly served as Georgia’s senator, played a key role in fundraising for Trump during the 2024 campaign, raising millions of dollars over the summer. She hosted a debate watch party with Republican National Committee Chair Michael Whatley, where several of Trump’s other Cabinet picks, including Senator Marco Rubio and Representative Elise Stefanik, were present.
During her time in Congress, Loeffler was one of the wealthiest lawmakers. Her husband, Jeffrey Sprecher, is the CEO of the Intercontinental Exchange, which owns the New York Stock Exchange. In 2020, as she ran for election, Loeffler and her husband announced they would divest from individual stocks after facing criticism over stock trades made before the market downturn caused by the coronavirus.
Appointed to the Senate by Georgia Governor Brian Kemp, despite Trump’s opposition, Loeffler lost her seat in a 2021 runoff to current Senator Raphael Warnock.
Kelly Loeffler was a strong ally of Donald Trump during her time in Congress. Before the violent events of January 6, 2021, she had planned to vote against certifying her state’s electoral results to support Trump’s efforts to challenge Joe Biden’s 2020 election victory. However, following the attack on the U.S. Capitol, Loeffler reversed her position. On the Senate floor, she stated, “When I arrived in Washington this morning, I fully intended to object to the certification of the electoral votes. However, the events that have transpired today have forced me to reconsider, and I cannot now in good conscience object to the certification of these electors.” She also condemned the violence, calling it “abhorrent.”
Loeffler was one of the witnesses who testified before the grand jury as part of the criminal investigation into Trump’s efforts to overturn the 2020 election results in Georgia.
Before her Senate appointment, Loeffler worked as an executive at a financial services firm in Atlanta and was a co-owner of the WNBA’s Atlanta Dream.
If she is confirmed by the Senate, Loeffler will lead the Small Business Administration. During Trump’s first term, Linda McMahon, a significant Republican donor and Trump’s nominee for education secretary, served as the administrator of the SBA. McMahon resigned in 2019 to become chair of America First Action, a pro-Trump super PAC.