Apply for the Behavioral Science in TA Cohort | SBA Microloan Program 101

In this Must Know…

• Apply for CAMEO and Silver Lining Action Plan’s Behavioral Science in TA Cohort. The RFP is due October 27, 2023.
• Join our SBA Microloan Program 101 class on November 2, 2023 at 10:00am PT.
• Federal and State Actions against Junk Fees
• CAMEO CEO Carolina Martinez offers cost-reduction strategies for small business owners in Forbes‘ latest Finance Council column.
• CAMEO is hiring a Program Assistant, a Program Manager, and a Senior Program Manager, CDFI Programs. Come work with us!
• This week’s Goodie Highlight is the Federal Reserve’s 2023 CDFI Survey.

Apply for the Behavioral Science in TA Cohort

Last week, we held an introductory session of CAMEO’s new Behavioral Science in TA program, which is funded by the SBA PRIME Grant. In partnership with Silver Lining Action Plan (SLAP), this program aims to increase participants’ ability to serve their clients by applying behavioral science to business technical assistance. If you missed the session, you can access the recording and slide deck in CAMEO Academy.

The RFP to join the Behavioral Science in TA/SLAP Cohort is due on Friday, October 27, 2023 by EOD. Please fill out this form to apply for the cohort.

SBA Microloan Program 101

Are you a mission-based microlender looking for additional resources to deploy more loans and increase your impact? If so, please join CAMEO on November 2, 2023 at 10:00am PT to learn about becoming an intermediary lender in the SBA Microloan Program. We’ll share what you need to know about the SBA’s application process as well as the benefits and challenges of securing micro-lending capital loans and technical assistance (TA) grants.

This course is funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.

Federal and State Actions against Junk Fees

Last week, the Federal Trade Commission (FTC) proposed a new rule that would ban businesses from charging hidden and misleading fees and require them to disclose their full prices upfront.

Meanwhile, on Saturday, California Gov. Gavin Newsom signed SB 666 (introduced by Sen. Min and co-sponsored by CAMEO and CFC), which prevents financing companies from charging exorbitant fees in connection with a commercial financing transaction with a small business.

The Goodies

For Your Clients

• SBA and Public Private Strategies are hosting the webinar “Invest in America: Small Business Tools and Resources” on October 26, 2023 at 11:00am PT.
• Small Business Majority is conducting a survey to learn how small business owners are leveraging digital resources. Ask your clients to fill it out.

Funding & Professional Opportunities

• Citi Foundation launched a $50 million RFP to help scale community organizations’ efforts. Register to apply by October 25, 2023.
• The Responsible Business Lending Coalition is hosting a working session on how to calculate Annual Percentage Rate (APR) or Estimated APR using Excel on October 25, 2023 at 11:00am PT. 

New Research

• The Federal Reserve’s 2023 CDFI Survey revealed that three out of four CDFIs saw an increase in demand over the past year.
• The latest report by Aspen Institute’s BOI describes secondary markets and loan sales as promising tools for scaling CDFI small business lending.

Other Goodies

• Member in the News: Prospera participated in the celebration of Hispanic and Latino Heritage Month on Good Morning America – GMA3.
• Jobs: CAMEO, Alchemist CDC, Prospera, and NCRC announced new jobs recently. See who else is hiring!