Tools
|
Joseph P. Loddo was named District Director of the Washington Metropolitan Area District Office of the U.S. Small Business Administration (SBA) in March 2002. In this capacity, he is responsible for the delivery of the Agency's programs in the District of Columbia, Prince George's and Montgomery counties in Maryland, and the cities of Arlington, Alexandria, Fairfax and Falls Church and the counties of Arlington, Fairfax and Loudoun in the Commonwealth of Virginia. The Washington Metropolitan Area District Office has a staff of 31 employees that is responsible for a total business loan portfolio of over $500 million and an 8(a) portfolio of 1,561 firms, the largest in the country. In addition, the office offers management and technical assistance through its resources such as the local SCORE chapter, the Small Business Development Center at Howard University and two Women Business Centers. Previously, Loddo was the Chief Financial Officer for SBA, and led the Agency in achieving the third, fourth, fifth and sixth unprecedented "unqualified" audit opinions on the financial statements. He reduced the material weaknesses identified during independent audits from three in 1998 to two in 1999 and to zero in 2000. He developed the SBA's first Accountability Report for 1999 and the first Performance and Accountability Report for 2000. And, he has been instrumental in facilitating the SBA's key initiative to become the first Federal agency to build a system of Internal Controls that fit the Committee of Sponsoring Organizations' (COSO) framework. In 1991, he was selected to the SBA District Directors’ Candidate Development Program. In 1992, Joe was named Director of the Rhode Island District Office, where he served until 1999. During his tenure there, he was instrumental in developing legislation allowing a state tax credit for the SBA loan guarantee fee. Today, it stands as a national symbol in cutting-edge legislation. Loddo has over 30 years of experience in various aspects of business and financial management, including successful start-up and corporate turnaround management. He holds a Bachelor of Science degree in Economics from the University of Dayton. |

