Obama's SBA choice venture capitalist

CHICAGO, Dec. 19 (UPI) -- U.S. President-elect Barack Obama Friday selected venture capitalist Karen Mill as his choice to lead the Small Business Administration.

"With Karen at the helm, America's small businesses will have a partner in Washington helping them create jobs and spur growth in communities across this country," Obama said. "With a background in the private sector and experience helping Maine's government promote growth across the state, I am confident that Karen will lead an SBA that will only help small-business owners realize their dreams, but help our nation rebuild our economy."

Mills, a founder of Solera Capital in a New York, called the spirit of entrepreneurship one of the country's "greatest assets as we compete in this global economy. I am very pleased to be joining the Obama administration in a role that fosters this entrepreneurial spirit."