In this Must Know…
- The recently signed state budget maintains funding for the TAP program.
- Take Action: Tell Congress to pass a Farm Bill that works for all of us.
- Join our upcoming Microlending Essentials on September 9-13, 2024.
- Apply for the MEHKO Outreach Cohort by July 15, 2024.
- This week’s Goodie Highlight is Public Private Strategies’ business leader briefing with Lael Brainard, Director, National Economic Council on lowering costs for small businesses and families, moderated by CAMEO CEO Carolina Martinez!
State Policy Updates
California lawmakers approved a $297.5 billion state budget for 2024-25 and 2025-26 fiscal years. Earlier this month, legislators in both chambers rejected cuts to California’s Small Business Technical Assistance Program and re-instated the program’s budget.
The budget, which maintains the TAP funding, was signed by Gov. Newsom yesterday. Thank you to everyone in our network who made calls, sent emails, submitted letters, and spoke directly with legislative offices to stress the importance of this program and make sure it remains fully funded.
Also in state news, SB 1103 (Commercial Tenant Protections Act – Menjivar) passed Assembly Judiciary and goes to the floor in October. On Monday, CBS LA aired a story on the bill and how it would help vulnerable small business owners facing high and unexpected fees.
Take Action: Farm Bill
While it’s good news that Congress is finally working on a new Farm Bill, the House Agriculture Committee has put forward a draft bill that negatively impacts food and farm workers, hungry families, and our climate.
Contact your members of Congress to urge them to pass a bill that mirrors the proposal in the Rural Prosperity and Food Security Act, including investment for BIPOC producers, expansion of urban agriculture, investments in local and regional food programs, and more.
Microlending Essentials: September 2024
Book your tickets now for Microlending Essentials on September 9-13, 2024. It does sell out!
Microlending Essentials is one of CAMEO Network’s most sought after trainings, where CDFIs and mission-based lenders will learn the fundamental skills for consistent, quality microloan underwriting. This introductory training covers multiple analyses: global cash, credit history, debt-to-income, and bank statements. Participants also underwrite and write credit memos for two actual microloan applications.
The Goodies
For Your Clients
- On July 1, 2024, numerous cities and counties across California will increase their hourly minimum wage.
- The FedEx E-Commerce Learning Lab offers coaching and a $5,000 grant to help small business owners grow their online store. Applications are due July 1, 2024.
Industry News
- Republicans in the House Appropriations Committee banned nonprofit organizations from receiving federal funding through earmarks.
- The CDFI Fund has extended the submission deadlines for revised CDFI Certification applications.
Virtual Events
- Join NGLCC’s fireside chat with SBA Administrator Guzman on LGBTQ+ entrepreneurship, TOMORROW at 11:00am PT.
- CAMEO CEO Carolina Martinez is moderating a business leader briefing with Lael Brainard, Director, National Economic Council on lowering costs for small businesses and families, on July 1, 2024 at 9:30am PT.
Other Goodies
- New Research: NCRC released a report that looks at Home Mortgage Disclosure Act (HMDA) data across 40 years, which found that race-based exclusion from homeownership is still a de facto reality.
- Jobs: CAMEO Network, Transform, NCRC, and Inclusive Action for the City announced new jobs recently. See who else is hiring!