News summary: SBA head Karen Mills to resign

News summary: Small Business Administration head Karen Mills announces she'll resign

Associated Press

STEPPING DOWN: Small Business Administration head Karen Mills says she plans to resign. She joins a number of officials who are leaving the Obama administration.

SCORECARD: Under Mills, the SBA focused on helping companies not only by guaranteeing loans, but also providing more counseling so struggling businesses would be able to qualify for financing — and eventually, to create jobs. The SBA also recruited more banks to make loans to small businesses. The agency also streamlined its loan application process.

THE REACTION: Small-business groups praised Mills for her work to help companies during tough economic times.

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