Statement on the Nomination of Philip Lader To Be Administrator of the Small Business Administration

I have today announced my intention to nominate Philip Lader as Administrator of the Small Business Administration.

Upon Mr. Lader's confirmation by the Senate, the SBA Administrator will hold Cabinet rank and serve as a member of my Cabinet.

The elevation of the SBA Administrator to Cabinet status reflects my firm commitment to address the interests and concerns of the Nation's small business community. By sitting as a member of the Cabinet, the SBA Administrator can ensure that the views of our small business community are expressed and heard in the most senior levels of Government.

Small business is the backbone of our economy and the driving force behind economic growth. We have already taken major strides in making the SBA an effective agency for enhancing the strength of our Nation's small businesses. In giving the Administrator Cabinet status, we will accelerate that progress.