Michael is a Co-CEO leading Strategy, Capital, Networks, and strategic finance at Next Street. In early 2021 Michael was selected to lead the US Small Business Administration for the Biden-Harris Administration on a temporary basis until current Administrator Isabel Guzman was confirmed in the Senate. For the 60 days that Michael served in the Administration, he made decisions on over $1 Trillion of funding to small businesses, including implementing $300B+ from the December 2020 legislation, including the Paycheck Protection Program (PPP), managing the portfolio of $700B+ from the CARES Act, and drafting legislation for $60B+ of new small business policy as part of the American Rescue Plan. Michael managed fraud, waste, and abuse risk without sacrificing speed of funding; and led the 12,000 person agency through a large transformation in mission and administration.
Michael led policy changes, community engagement, and a “whole of government” effort around the PPP, which led to a weekly:
- 25% increase in loans to first-time PPP borrowers
- 20% increase in loans to minority-owned businesses
- 14% increase in loans to women-owned businesses