Summary of Proposed Microloan Program Changes

Thanks to Martin Feeney of Madison Services Group for this summary. 1) Revision Regarding Insured Depositary Institutions The proposed rule would allow microloan intermediaries to maintain their Microloan Revolving Funds (MRFs) and Lon Loss Reserve Funds (LLRFs) in federal insured credit unions. The current definition specifies only insured banks and savings associations. 2) Removal of

MMS 8 Month Update

CAMEO brought Accion Texas’s Microloan Management System to its members as a way to decrease the cost of microlending. Three members are active in the pilot: CDC Small Business Development, TMC Development Working Solutions and Women’s Economic Ventures. In the first eight months of the MMS pilot, the program has received 160 loan applications, rejected

Do-It-Yourself Economic Growth

The world is rapidly changing. Nothing is as it was 10 years ago, and we can only imagine what will be in 10 years and that includes changing economic conditions and a changing labor market. This means the economic development field needs to consider new economic development tools to deal with a new reality. One

Contreras-Sweet Confirmed as SBA Administrator

Senate Confirms Administrator Maria Contreras-Sweet to Lead the SBA Today the Senate confirmed Maria Contreras-Sweet as Administrator of the U.S. Small Business Administration (SBA). CAMEO congratulates Administrator Contreras-Sweet as she takes on this important new role. Administrator Contreras-Sweet spoke at CAMEO’s 2009 Viva! Event and is a founding board member of the Los Angeles Latino