The decision almost certainly means Loeffler, one of Trump’s top donors, won’t compete in 2026 for Georgia’s open governor’s race or challenge Democratic U.S. Sen. Jon Ossoff when he stands for another term. It was cheered by allies of Lt. Gov. Burt Jones, who expects to run for governor as a MAGA ally.

The president-elect had also considered Loeffler for other posts, including as leader of the Department of Agriculture before selecting Brooke Rollins, his former domestic policy aide, for the job.

The appointment positions Loeffler to have more influence in both Georgia and national Republican politics if she’s confirmed by the U.S. Senate. She would lead an agency charged with distributing billions of dollars in loans, as well as providing counseling and regulatory support, for small businesses.

Loeffler could serve in Trump’s administration alongside former U.S. Rep. Doug Collins, her rival in a 2020 special Senate election that sharply divided Georgia Republicans. Trump tapped Collins to oversee the Veterans Affairs Department.

Credit: TNS

Credit: TNS

A fast rise in Trump’s circle

For Loeffler, the appointment continues a transformation from political newcomer to Trump stalwart in just five years.

She was unknown to many Georgians in 2019 when Kemp passed over Collins to appoint her to an open seat vacated by then-U. S. Sen. Johnny Isakson, who stepped down before his term ended amid growing health problems.

Even Trump bristled at the decision, urging Kemp to select the four-term congressman for the coveted job. But Kemp saw Loeffler as a fresh political voice who could help win over swing voters, particularly women, who were fleeing the party during Trump’s first term.

During a long and divisive special election campaign, Loeffler and Collins traded increasingly personal attacks as they jockeyed for Trump’s favor.

The then-president never endorsed either of his allies, but Loeffler said she quickly won his trust after she joined the U.S. Senate and said within weeks after taking office that she had regular phone conversations with Trump.

Though Loeffler bested Collins for a spot in the runoff, Democrat Raphael Warnock won a nine-week overtime campaign that helped flip control of the Senate.

In the months that followed that defeat, Loeffler didn’t retreat from politics. She started Greater Georgia, a political organization that sought to mobilize hard-to-reach voters around conservative issues and also helped down-ballot candidates across the state.

Loeffler was particularly involved in key state legislative races, fostering relationships with up-and-coming Republicans. She also helped recruit former White House intern Courtney Kramer to wage a long-shot bid to oust Fulton County District Attorney Fani Willis.

Credit: Arvin Temkar/AJC

Credit: Arvin Temkar/AJC

And she remained a fierce advocate for Trump. She and her husband, Jeff Sprecher, who runs the Intercontinental Exchange financial trading platform, were among Trump’s biggest donors.

Loeffler was a fixture at Trump events on the campaign trail and was picked by the president-elect to cochair his inaugural committee. And in mid-November, Trump’s Truth Social platform was reportedly in talks to buy the Bakkt cryptocurrency platform that Loeffler once ran.

An unusual path

Loeffler’s path to politics was unorthodox. Raised in rural Illinois, she was a standout basketball player who later rose to become a senior executive at the company her husband runs. She previously worked at Toyota Motor Sales USA, Citigroup and William Blair. She left the Intercontinental Exchange in 2018 to lead Bakkt.

She had considered bids for public office before, including a 2014 run for the open Senate seat that Republican David Perdue eventually won. At the time, her allies said Intercontinental Exchange’s purchase of the New York Stock Exchange prompted her to decide against running.

Loeffler was better known to some as a co-owner of the WNBA’s Atlanta Dream franchise and a mover-and-shaker in the city’s civic circles. As she delved more into Republican politics, her name quickly surfaced after Isakson made the stunning decision to step down early.

Kemp and his wife, Marty, were drawn to Loeffler’s promise to attract independent voters. Her prodigious bank account also factored into the race — she and her husband wound up pouring more than $31 million of their fortune into her Senate campaign.

But her appointment to the job — and Collins’ decision to also compete for the seat — triggered a race to the party’s flanks as both fought for the GOP’s MAGA base.

That fight didn’t ebb even after she edged out Collins for a spot in the runoff. Under relentless pressure from Trump, she announced that the day after the Jan. 5, 2021, vote she would object to the Electoral College certification of the 2020 election Trump lost.

She ultimately abandoned her plan to challenge Georgia’s electoral results, citing the pro-Trump mob that descended on the U.S. Capitol. But she was careful not to criticize Trump and immediately positioned herself as one of his greatest Georgia advocates.

Loeffler’s Greater Georgia initiative helped keep her involved in state politics, and she worked to tighten her relationship with Kemp as Trump and other key MAGA figures in Georgia went to war with him.

She and her husband also strengthened their ties to Trump, giving $5 million to his 2024 campaign and an additional $1 million to help finance the Republican National Convention.

Her financial holdings raise other complications. During her Senate campaign, Loeffler came under scrutiny after a large number of stocks that she or her husband owned were sold off shortly after Loeffler attended a senators-only coronavirus briefing in January 2020.

The U.S. Senate Ethics Committee dismissed complaints from watchdog groups questioning whether she engaged in insider trading, and other officials closed investigations into the stock transactions without finding criminal wrongdoing.

Loeffler told “Politically Georgia” before her appointment she would “of course” work to prevent conflicts of interest if she joins the administration.

“I certainly did that in 2020. Will it stop allegations? No, that’s just part and parcel,” she said. “And now it’s a badge of honor. But I will always do the right thing, and I will always overcomply in any case.”