The vote was 52-46, with Nevada Democratic Sen. Jacky Rosen joining 51 Republicans in support. Loeffler, a former U.S. senator from Georgia, will now oversee an agency with a $1 billion budget, responsible for providing loans, grants, and financial support to small-business owners. Loeffler, with a net worth of around $1 billion, had previously worked as an executive at Intercontinental Exchange before completing Sen. Johnny Isakson’s term. Though she faced controversy over stock sales at the start of the COVID-19 pandemic, Loeffler pledged to donate her $200,000 annual salary to charity. She also promised to audit SBA spending.