Maria Contreras-Sweet official portrait as 24th Administrator of the Small Business Administration. In office April 7, 2014 – January 20, 2017. Appointed by Obama.
She was formerly the executive chairwoman and founder of ProAmérica Bank, a commercial bank focusing on small to mid-sized businesses with a specialty in the Latino community.
Born in Guadalajara, Mexico, Contreras-Sweet immigrated to Los Angeles, California and has since been involved in both the private sector founding a private equity firm and in public service as the California Secretary of Business, Transportation, and Housing under Governor Gray Davis. On January 15, 2014, she was nominated by President Barack Obama to join his Cabinet as head of the Small Business Administration.[1] She was confirmed as the Administrator of the Small Business Administration by voice vote on March 27, 2014.
She assumed that role on April 7, 2014. In November 2017, Contreras-Sweet placed a $275 million bid on American film studio The Weinstein Company, after the studio's founder Harvey Weinstein was fired after dozens of women accused him of sexual abuse.
Contreras-Sweet proposed turning The Weinstein Company into a female-led company. The studio was expected to file for Chapter 11 bankruptcy on February 26, 2018 before Contrera-Sweet's company reached a deal to purchase the company on March 1, 2018 for $500 million, including a $90 million victims compensation fund.
On March 6, 2018, the acquisition deal collapsed after the studio had an extra debt of $50 million revealed.
HAT TIP WIKI
As of February 2018, several companies had sued TWC, including American Express ($1.4 million), chocolatier Lindt & Sprüngli ($133,333),and Canadian film distributor Entertainment One ($7.2 million for Paddington 2). In March 2018, shortly after the studio filed for Chapter 11 protection, the Bankruptcy Court in Delaware published a 394-page list of creditors owed money from TWC; including the estate of rock musician David Bowie, film director Michael Bay, and Malia Obama.