By Vicki Needham - 04/04/13 05:06 PM EDT
Hochberg, who has held the position since May 2009 and also serves on the President's Export Council, led the agency through the tough reauthorization fight last year.
Nearly a year ago, President Obama signed legislation to renew the bank's charter for three years and raise the limit on the total financing the bank can guarantee, to $140 billion from $100 billion.
The bank, created in 1934, provides loan guarantees to foreign companies that want to do business with U.S. exporters.
Senate Banking Committee Chairman Tim Johnson (D-S.D.) has said his committee would take up the nomination in a "timely manner.”
Hochberg's nomination has gotten nods from groups such as the National Association of Manufacturers (NAM).
Last year, the bank provided more than $35.7 billion in financing.
Jay Timmons, NAM's president and CEO, credited Hochberg for extending the bank's outreach to small- and medium-sized manufacturers, helping them reach distant markets and, in turn, create jobs.
Small-business financing increased more than 70 percent to $3.3 billion between 2008 and 2012, according to the bank.