September 2, 2022

First Black Female Executive For U.S. Small Business Administration Steps Down

Natalie Madeira Cofield, the assistant administrator for the Office of Women Business Ownership at the US Small Business Administration (SBA), has stepped down from her role to pursue a new venture. 

Cofield, recognized as one of the high-ranking Black women in the president’s administration, was also the first Black woman to hold that position and head a female business ownership office. 

According to Bloomberg, the Executive Director of the National Women’s Business Council Tene Dolphin praised Cofield for her hard work in a recent statement. 

“Her tireless efforts during her tenure have allowed the Office of Women’s Business Ownership and the US Small Business Administration to make remarkable strides in uplifting women leaders.” 

The veteran entrepreneur has been a critical player in many initiatives. She even spearheaded the launch of a free digital e-learning platform, Ascent, to help women entrepreneurs learn, grow, and expand their businesses. 

Cofield was the brains behind SBA’s $100 million American Rescue Plan program, which was initially designed to “reduce barriers that underrepresented and underserved entrepreneurs often face in accessing programs” by providing them with access to capital, business development tools, and more. 

Cofield is dedicated to using this new chapter to add “to the number of Black women starting a business.” The entrepreneur also hopes she can build her business repertoire while pursuing other ventures. 

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.