New head of National Economic Council brings extensive small business experience

As President Barack Obama enters the second half of his first term in office, he is shaking things up and bringing in some new advisors.

Gene Sperling is just one of those individuals. Last week, Sperling was chosen by Obama to head the National Economic Council, and with him, he brings significant small business experience, the Houston Business Journal writes.

In fact, Sperling was the architect behind the Small Business Lending Fund, which was the administration's attempt to provide community banks with cheap capital and guaranteed loans to help increase lending.

"Mr. Sperling's keen understanding of the importance of small business to the U.S. economy will be a huge asset as he takes over the administration's top economic post," National Small Business Association president and CEO Todd McCracken told the paper. "He is the right man for the job."

Sperling, a former consultant for Goldman Sachs, will succeed Larry Sommers in the position. Formerly, Sperling authored two books, including What Works in Girls' Education: Evidence and Policies from the Developing World and The Pro-Growth Progressive: An Economic Strategy for Shared Prosperity.