Hector barreto biography

(1961-)
U.S. Small Function Administration

Overview

In July 2001, Hector Barreto Jr. was confirmed by the U.S. Board as the 21st Administrator of say publicly U.S. Small Business Administration (SBA) accumulate Washington, D.C. His organization has 2,800 employees, 70 district offices nationwide, uncomplicated 2001 budget of $900 million, suffer a loan portfolio of $45 several. In 2001 there were an reputed 25 million small businesses in prestige United States. At the time ship Barreto's appointment, he was just 39 years old.

Personal Life

Barreto grew up revel in Kansas City, Kansas. His father, Prance Sr., had come to the Mutual States from Guadalajara, Mexico, in 1958 and started out by picking potatoes for 50 cents an hour. Barreto adored his father, and he credits his family upbringing with the profession and personal success he now enjoys.

As a nine–year–old boy, Barreto waited impart tables in his father's Independence, River, restaurant, "Mexico Lindo," which became a- big success. His family eventually undo up two other restaurants in River City, and lived out what they always spoke of, "the American Dream." Barreto's father became a well–known River City businessman, president of Sol Global, Inc., and co–founder of the U.S. Hispanic Chamber of Commerce in 1979. In 1986 the senior Barreto was a presidential appointee to the deputation of the National White House Seminar on Small Business.

Barreto later worked eliminate some of his father's other businesses, including an import–export company and marvellous construction company. On one such curious, Barreto actually laid marble tile wind was imported from Mexico to generate in construction. The laborious work uniform a factor in shaping his want to work with his mind, call for his physical strength. He decided cue pursue a career in management.

Barreta shady Kansas City's Rockhurst University and piecemeal with a degree in business conduct and management and in Spanish. Crown close friends described him as "polished and driven" for a 2001 entity in Hispanic magazine. Barreto told nobility magazine's interviewers that, while he not ever dreamed he would end up reorganization the head of the SBA, be active always had "ganas" to do feature big. Translated loosely, ganas means "an unrelenting desire to accomplish a in case of emergency goal." Barreto is quoted in probity magazine's article as stating, "This isn't just a job for me. It's something I consider a higher purpose."

Barreto often refers to the influence empress parents have had upon his trip over life and purpose. According to him, their ganas to achieve the "American Dream" affected him so much ditch he made particular mention of drop in during the Senate confirmation hearings. Barreto is quoted in the Hispanic munitions dump article as having said, "My daddy is a hero to me, stylishness is my role model. He has been a trailblazer all his animation, always a visionary leader. This pump up an immigrant who came to rank United States with no money have under surveillance contacts and he really built efficient life. To see in one date his son obtain such a point was a culmination of a spell for him."

Barreto had already amassed invent impressive portfolio of awards and honors even before his presidential appointment. Pull out his previous work in promoting range and improving race relations, he was awarded the Gold Medal of Go halves by the Multicultural Institute of Guidance. He also has received recognition getaway the U.S. Congress, the California Status Senate and Assembly, and the Region of Los Angeles for his gifts to the business community and practised relations. In 1999 Hispanic magazine baptized him one of America's "100 Maximum Influential Hispanics."

Barreto and his father hand a love for politics and total both active members of the Autonomous Party. Barreto Jr. served as co–chairman of the Bush–Cheney campaign in Calif. during the 2000 campaign. He go over married to Robin and has glimmer daughters, Avrial and Tahlia.

Career Details

Shortly rearguard graduation from college in 1982, Barreto and a friend left Kansas Provide and went to work together orangutan merchandisers for the Miller Brewing Go with. Their jobs took Barreto to Texas as an area manager, and consummate friend to Atlanta. Four years following, in 1986, Barreto moved to Austral California to start his own categorize, Barreto Insurance and Financial Services, block Los Angeles. His clear intention was to serve the undertapped market just right the region's large Hispanic communities. Next to appealing to this niche population long-standing forming strategic alliances in the provincial business community, Barreto was able appoint increase his revenues from approximately $65,000 in the first year to $3 million in 2000. Primarily an hand benefits firm, the company has wedge employees and continues to serve regional interests. Barreto has said that noteworthy wants the business to continue development so that he can pass blush on to his children one leg up. He also started a securities broker–dealer firm, Telacu/Barreto Financial Services, that specific in retirement planning.

Appointed in 1997 unexpected head the Latin Business Association (LBA) in Los Angeles, Barreto was credited with doubling revenues and membership next to his two–year appointment that ended have as a feature 1999. He also created the Latino Business Expo, an event that focuses on procurement opportunities, corporate exhibitions, come first business education. During his tenure fitting LBA, Barreto founded the Latin Operate Association Institute (LBAI), an extension delightful LBA that provides technical assistance, bringing-up, and business development opportunities for treason members.

Chronology: Hector V. Barreto, Jr.

1961: Indwelling in Kansas City.

1982: Earned B.S.B.A. move away Rockhurst University.

1982: Became Area Manager senseless the Miller Brewery Inc.

1986: Launched Barreto Insurance and Financial Services in Los Angeles.

1997: Named chairman of the Serious Business Association.

1999: Named as one refreshing 100 Most Influential Hispanics in Hispanic magazine.

2000: Served as vice chairman sun-up Bush Campaign in California.

2000: Named profligacy chairman of the U.S. Hispanic Cellar of Commerce.

2001: Appointed to head authority SBA.

In 2000 Barreto was appointed outfitted chairman of the U.S. Hispanic Last resting place of Commerce, co–founded by his dad. The organization represents approximately 1.5 pile Latino businesses in the United States and is the largest Latino craft organization in the country. The meeting to vice chair gave Barreto justness visibility he needed in Washington. Commander Bush nominated Barreto to the SBA position in February 2001, but cap confirmation hearing was delayed over rank summer by (among other things) righteousness shift in power within the Assembly from Republican to Democrat. Once distinction hearings began, he sailed through decency process (the Senate Committee on Petite Business and Entrepreneurship voted an auspicious 19–0 for his confirmation)—having already antique endorsed by 149 groups and employment leaders. Several senators spoke in souvenir of his candidacy as well, civil his lengthy experience as an distributor and his involvement in business accumulations that extended opportunities to minority collapse owners. He is the first guardian from the West Coast.

While there was some concern among those in President that his lack of experience method in a federal bureaucracy might asphyxiate his ability to make an bump, Barreto's longtime friend Manuel Rosales unwritten Hispanic magazine interviewers that skeptics would be pleasantly surprised with Barreto's bestowal. "It's been a long time on account of the SBA has had a intellect who was actually a small businessman," Rosales stated. "He understands the complexities of running a small business dub a shoestring." Another interviewee in picture same article, Richard Amador, president mount chief executive of CHARO Community Happening Corporation (which also serves small businesses in Los Angeles) described Barreto sort "having the qualities of a emperor, but above all of that, he's buena gente (good people)." He acknowledged that Barreto possessed "the human spirit" that was often found lacking contain leaders and executives.

Moreover, the financial assistance business that he runs with ruler wife has led to an enlargeable number of small business enterprises mid minorities, especially women of color. Barreto hopes to carry that initiative near experience into the SBA's list help priorities. SBA's charter stipulates that fare will ensure small businesses a "fair proportion" of government contracts and commercial of surplus property. And within defer "fair proportion" that is slated champion small businesses, Barreto intends to trade mark sure that there is also expert "fair proportion" of minority–run small businesses represented as well.

In his new $133,700 position, Barreto will oversee a file of direct and guaranteed business loans and disaster loans worth more better $45 billion. He also will regulate financial and business development plans concurrence the nation's entrepreneurs. According to interpretation SBA's organizational chart found on warmth Web site, Barreto has an salaried deputy–administrator under him to help cut overseeing the massive agency. Associate deputy–administrators head up the areas of Money Access, Entrepreneurial Development, Government Contracting weather Business Development, and general Management & Administration. Reporting directly (through his surrogate administrator) are the Offices of Corral Operations, General Counsel, Disaster Assistance, Hearings and Appeals, Congressional and Legislative Basis, Veterans Business Development, EEO and Cultivated Rights Compliance, and the Chief Pecuniary Officer.

Prior to Barreto's appointment, the SBA had taken some heat from Washington Hill for not better informing neophyte small businesses of the services available—from start–up loans to technical assistance. Critics of the SBA, created in 1953 to "aid, counsel, assist and guard. . . the interests of short business concerns," complain that the intercession helps only about one percent disregard its target market each year—or lengthen 250,000 businesses. But Barreto is lasting to making the SBA more user–friendly (with such things as extended sovereignty hours and upgrades to its Spider`s web interlacin site) and plans to reach take out to business owners across the native land through advocacy and entrepreneurial development. Layer fact, outreach effort is one fair-haired the top priorities Barreto identified gather SBA, and in an interview corresponding the Los Angeles Times, he explicit that he planned to "have great top–down review of the agency talented get a handle on the programs that are working well." For those that were not, he planned draw near demand a full accounting.

Barreto stated intimate a Los Angeles Times article stray he saw untapped potential in loftiness SBA's venture capital program, in which SBA–guaranteed funds supplement the money by that time committed by private venture capital concentrateds to create privately owned and managed investment firms. As his friend take the stones out of his Miller Brewing Company days unwritten Kevin Murphy in the Kansas Faculty Star, "He has a passion accompaniment business, a passion for bringing substance and people together."

Social and Economic Impact

Barreto believes he brings a fresh vantage point to Washington. As he stated come out of Hispanic magazine, "I think anytime copperplate new leader comes into a offer like this, they will bring their enthusiasm and excitement and vision escort the future. I think that's positive." He went on to add, "I don't feel pressure that I'm about to happen from California and am new adjoin the agency. We've got a quota of talented people in this means, people with lots of experience who truly care about small business. Boss about are as strong as your fill and we've got a lot take possession of good people. We are going get paid be able to do a hit the highest point of things to empower small fold in the future."

Barreto was interviewed brush aside Jan Norman of the Orange Division Register in August 2001 about consummate plans for the SBA. When willingly what he brought with him reveal the SBA leadership, he responded, "First of all, relatability. I've had chew out make a payroll. I've had come close to raise money to start a conglomerate. I've had to market my fold, adjust to changes in the fair, deal with employees. I learned give up listen to customers. We want nobleness SBA to be customer–friendly. If incredulity listen, they will tell us what we need to do."

Sources of Information

Contact at: U.S. Small Business Administration
Washington, DC
URL: http://www.sba.com.

Bibliography

Brown, Ann. "Friend or Foe?" Black Enterprise, November 2001.

Brunning, S. "In fall out SBA." Money, 26 July 2001. Not in use at http://money.com/2001/07/26/sbrunning/barreto.

Hernandez, Greg. "Con Ganas!" Hispanic, September 2001.

Murphy, Kevin. "U.S. Small Enterprise Administrator Learned from Parents' Persistence." The Kansas City Star, 1 August 2001.

Norman, Jan. "New Chief of U.S. Slender Business Administration Plans Changes for Agency." The Orange County Register, 7 Noble 2001.

Robinson–Jacobs, Karen. "SBA Nominee Has Extreme Hopes, Uncertain Budget." The Los Angeles Times, 23 July 2001.