Senator Maria Cantwell (D-WA) has introduced the Women’s Small Business Ownership Act of 2014. The bill nearly doubles funding for Women’s Business Centers, increases federal contracting opportunities for women-owned small businesses, and increases microlending.
After four years of development, Jeremy and Chad were ready to launch their line of speciality bartending tools, but needed a small loan to get started. Thankfully, Accion San Diego was there to fill the gap with a $25,000 microloan.
July 24, 2014: Women business owners at Senate earing, Pamela Patterson in Huff Post on rural investment, Liz Perez to keynote CalVet conference, MEDA starts a lending program
July 17, 2014: Get Paid on Time with SupplierPay, EBALC in Oakland joins CAMEO
Bertha Magaña had experience as a farmworker and good credit, but struggled to find the financing she needed to support her 7 acre organic farm. California FarmLink helped her find over $70,000 in loans to expand her business, and ALBA helped get her vegetables into stores.
Kimberly Haines had a solid business plan and a love of pet care, but couldn’t find the loan from a bank she needed to start her own business, CAMEO member Opening Doors stepped in with a microloan, and her pet salon opened in Novemeber 2013.
This newsletter is chock-a-block with articles, resources, technology, success stories, interviews, and big picture ideas on all Lending Academy features. This edition revolves around the disruptive changes that are popping up on a regular basis and providing challenges and opportunities for our sector. In this Issue… State of Microlending, June 18 Meeting with CDFIs News:
July 10, 2014: Claudia is in DC – good meetings with SBA and helped introduce AEO’s Micro Capital Task Force
Torrey Douglass designs websites under the name Lemon Fresh Design, and had a stellar website, but few customers. “The business side was not my strength,” concedes Douglass, who turned to West Company’s Loyd Hambrick for help grow with her fledgling micro-business.
Written by Shufina English The combination of online technology and investors who seek higher returns has created a flood of online business lending companies. Where there once was a handful, there now are dozens, hundreds maybe. Navigating the space is challenging, even for an experienced borrower. Rates, loan structures, fees, terms, etc can be hard