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Business Groups That Know Linda McMahon Eagerly Await Her SBA

This article is more than 7 years old.

Reaction to the news that Donald Trump had appointed Linda McMahon, the cofounder and ex-C.E.O. of WWE, to head the Small Business Administration was circumspect at best, at least among non-Republicans. "I hope Ms. McMahon is a quick study," said Rep. Nydia Velázquez, the top Democrat on the House Small Business Committee. The leading trade associations for banks and other lenders who make loans guaranteed by the S.B.A. did not comment at all on the pick. Over at the Coleman Report, a newsletter for S.B.A. lenders, an unscientific poll found that two-thirds of respondents thought that McMahon would be a bad choice for S.B.A. administer.

But up in Stamford, Connecticut, WWE's hometown, the news brought cheers from organizations that work with entrepreneurs. As president and C.E.O. of the Business Council of Fairfield County, Christopher Bruhl has known Linda McMahon professionally for a long time, particularly since her two unsuccessful runs for the U.S. Senate, in 2010 and 2012.

"She strikes me as a person who remembers where she's come from: the fact that she and Vince had a near bankruptcy — she's talked about that openly — and her sense of responsibility to her employees. When your enterprise goes down, it's not just that you've lost your investment, the people who work for you can't pay their rent."

Bruhl has a keen interest in a robust Small Business Administration: among its other projects, the Business Council helped the state reconstitute its network of small business development centers, which is funded in part through the S.B.A. Besides hosting counselors in its offices, the council designed a system to provide remote access to business advisers from 27 libraries across the state —business owners can use dedicated computers in secure private spaces to talk with counselors. And he believes McMahon's appointment is not a case where Trump picked for an agency head someone who despises that agency, as the president-elect appears to have done at, say, the Environmental Protection Agency and Department of Labor. (Bruhl, for his part, was careful not characterize either of those two cabinet picks in our conversation.)

"She would not be going to the S.B.A. if she didn't think the S.B.A. had an important mission," says Bruhl. "She has been out campaigning, in public and private, speaking to the importance of small business, the importance of access to credit, and the importance of mentors, training, et cetera. And I think that's genuine."

McMahon seems to be most engaged in supporting women entrepreneurs. After her second run for the Senate, she helped organize Women's Leadership Live, which fosters a network of women business leaders and presents annual conferences that combine inspiration with practical advice. At Sacred Heart University in Fairfield, Connecticut, where she is a trustee, McMahon has hosted a series of conversations with entrepreneurs called "Women Can Have It All." And unlike some powerful businesswomen, who tend to speak to other powerful businesswomen, McMahon is interested in helping the broadest range of women entrepreneurs, says Bruhl. Based on the attendance at the Sacred Heart events, "it's clear to me that this is a very diverse group that she is serving."

Fran Pastore agrees. Pastore founded the Women's Business Development Council in 1997, the first organization in Connecticut to take part in the S.B.A.'s initiative to organize and fund business counseling centers specifically for women. The Women's Business Development Council has four offices across the state, and last year coached 700 clients — 38 percent of them of color and 44 percent low- or moderate-income. Pastore met McMahon at a fundraiser six years ago, between the campaigns. "I saw her standing there, she was by herself, so I went over to her, and told her I wanted to get her engaged in our organization," Pastore recalls. "And she said, 'I'd love to, here's my card, call me.'

"She became a donor instantly to the cause. She began attending events. I would say she became one of our prime stakeholders," Pastore adds. "She was always open to meeting, she was always open to learning, she was always engaged in our work."

Pastore believes that McMahon will boost funding for the national network of women's business centers, which stood at $17 million last year, spread across nearly 100 centers. "The grants are very small from the S.B.A. and that's why I'm very excited about Linda. She is a woman, she is an entrepreneur and a business owner, and I know that she cares so personally and so deeply about women's economic issues," Pastore says. "I have very high hopes that the women's business center program will really grow under Linda's leadership."

"This is about creating jobs and taxpayers for entrepreneurs who have limited access to capital and limited access to markets. Ninety percent of women-owned businesses have less then $1 million in gross revenue, and Linda McMahon knows that."