The SBA was one of the last agencies without a head nominated by Trump.

“Small Businesses are the backbone of our Great Economy,” Trump wrote in a Truth Social post on Wednesday. “Kelly will bring her experience in business and Washington to reduce red tape, and unleash opportunity for our Small Businesses to grow, innovate, and thrive. She will focus on ensuring that SBA is accountable to Taxpayers by cracking down on waste, fraud, and regulatory overreach.”

Loeffler has served as the co-chairwoman of Trump’s second inauguration committee and was expected to get a spot in his administration.

She lost in a special election in 2021 to Sen. Raphael Warnock (D-GA) after she was appointed to Georgia’s Senate seat by Gov. Brian Kemp. Since then, she’s been a top donor to Trump, donating millions to his successful reelection campaign.

“Kelly was a tremendous fighter in the U.S. Senate during the first Trump Administration, including helping to pass the first ever bill to protect Women in Sports,” Trump added in his statement. “Prior to her tenure in the U.S. Senate, Kelly built a 25 year career in financial services and technology. Along with her amazing husband, Jeff, she helped build a Fortune 500 company from 100 employees to over 10,000, as Executive VP. She and Jeff also helped me secure the Big Election Win in Georgia!”

Before Loeffler was nominated to take the reins as SBA administrator, she was rumored to be Trump’s secretary of agriculture. That nomination, however, went to Brooke Rollins.