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President Barack Obama intends to nominate Maria Contreras-Sweet, the founder of a Latino-owned community bank in Los Angeles and a former California cabinet secretary, to direct the Small Business Administration, according to a White House official.

Obama will announce Contreras-Sweet's selection at an event Wednesday, the official said. The official was not authorized to discuss the nomination by name ahead of the announcement.

Image: Maria Contreras-Sweet in 2011. Image via YouTube.