In 1998 Hochberg became deputy administrator of the Small Business Administration (SBA), later becoming the organization's acting administrator.
He remained in the post at the SBA until January 2001, serving also on US President Bill Clinton's Management Council.
At the SBA, Hochberg helped to lead aggressive outreach to minority, women, and gay and lesbian-owned businesses across the nation.

Following his years in the Clinton administration, he was in December 2003 appointed Dean of the Milano School of International Affairs, Management, and Urban Policy, a post he left in late 2008.

Hochberg was a bundler of contributions for the Obama campaign; some bundlers collected $500,000 for the campaign.
Hochberg was an Agency Review team leader for the SBA on then-President-elect Barack Obama's transition team.

President Obama formally nominated Hochberg to be Chairman and President of the Export-Import Bank of the United States on April 20, 2009.
 The U.S. Senate confirmed his nomination by unanimous consent on May 14, 2009, for a term ending on January 20, 2013.
He was sworn in on May 21, 2009.
During his tenure, the agency supported more than 1.4 million American jobs and financed exports with a value exceeding $240 billion, while generating $3.8 billion in profits for U.S. taxpayers and reducing internal agency costs by 30 percent.
Under Hochberg, the Bank also increased its focus on customers, particularly America’s small business exporters, and in several years during his tenure, nearly 90 percent of EXIM Bank authorizations directly supported small businesses.
He streamlined processes, cutting transactions times so that 98% of transactions were processed within 100 days.
In 1998 Hochberg became deputy administrator of the Small Business Administration (SBA), later becoming the organization's acting administrator. He remained in the post at the SBA until January 2001, serving also on US President Bill Clinton's Management Council. At the SBA, Hochberg helped to lead aggressive outreach to minority, women, and gay and lesbian-owned businesses across the nation.
Following his years in the Clinton administration, he was in December 2003 appointed Dean of the Milano School of International Affairs, Management, and Urban Policy, a post he left in late 2008.
Hochberg was a bundler of contributions for the Obama campaign; some bundlers collected $500,000 for the campaign. Hochberg was an Agency Review team leader for the SBA on then-President-elect Barack Obama's transition team.
President Obama formally nominated Hochberg to be Chairman and President of the Export-Import Bank of the United States on April 20, 2009.  The U.S. Senate confirmed his nomination by unanimous consent on May 14, 2009, for a term ending on January 20, 2013. He was sworn in on May 21, 2009. During his tenure, the agency supported more than 1.4 million American jobs and financed exports with a value exceeding $240 billion, while generating $3.8 billion in profits for U.S. taxpayers and reducing internal agency costs by 30 percent. Under Hochberg, the Bank also increased its focus on customers, particularly America’s small business exporters, and in several years during his tenure, nearly 90 percent of EXIM Bank authorizations directly supported small businesses. He streamlined processes, cutting transactions times so that 98% of transactions were processed within 100 days.
Fred Hochberg