(CNSNews.com) - President Donald Trump donated part of his 2018 salary to the Small Business Administration (SBA), according to White House Press Secretary Sarah Huckabee Sanders.
“In keeping with his campaign pledge, the president continues to donate his salary on a quarterly basis to further important priorities,” Sanders said at a White House press briefing on Wednesday. “President Trump is proud to donate his 2018 second-quarter salary to the Small Business Administration.”
Sanders then called SBA Administrator Linda McMahon to the podium to accept the check.
McMahon expressed gratitude to the president for his “generosity” and “support.”
“I would like to thank the president for his generosity and for his support of the Small Business Association. He clearly understands the value of small businesses. There are approximately 30 million of them in this country, and I’m very happy to be their advocate,” McMahon said.
McMahon also said that the money would be used to help veterans transition from military life into the private sector.
“This money is going to be used in our Veterans’ Program. We’re going to establish a seven-month intensive training program called Emerging Leaders. It’s an adaptation of that program for our veterans, helping them transition from military life into private sector if they desire to start their own jobs and their own companies and be entrepreneurs,” McMahon said.
“So, once again, we thank the president very much for this, and it will be put to very good use,” she added.
The SBA is an independent federal government agency that provides loans, counseling and other assistance to help small business owners start and grow their businesses.
Its Emerging Leaders Initiative provides free training for small business owners with “small, poised-for-growth companies that are potential job creators,” according to sba.gov. The initiative provides almost 100 hours of education.
The initiative has created over 6,500 jobs and generated more than $300 million in new financing since it began in 2008.