SBA names national administrator

Hector V. Barreto Jr. last week was confirmed as administrator of the U.S. Small Business Administration in a unanimous vote by the U.S. Senate. He was nominated for the post by President Bush. Barreto is the agency’s 21st administrator, and replaces Aida Alvarez.
As SBA administrator, Barreto directs the delivery of financial and business development programs of the agency, which has a portfolio of direct and guaranteed business loans and disaster loans worth more than $45 billion.
As a young man, Barreto helped his father manage a family restaurant, an export/import business and a construction company. His father, Hector Barreto Sr., helped found the U.S. Hispanic Chamber of Commerce.
After receiving his B.S.D.A. degree in management and Spanish from Rockhurst University in Kansas City, Mo., he worked for the Miller Brewing Co. as south Texas area manager. In 1986, he moved to California and founded Barreto Insurance and Financial Services, responding to the need for financial services for southern California’s rapidly growing Latino population. He later launched an additional business as a securities broker/dealer specializing in retirement plans.
Hispanic Business Magazine recognized him as one of America’s “100 Most Influential Hispanics.” He is a native of Kansas City, Mo.
Aug. 3, 2001 Small Business Times, Milwaukee