Last year, the U.S. Department of Treasury awarded 27 California CDFIs nearly $11.5 million. The financial assistance (Base-FA) awards of up to $1 million allow CDFIs to lend capital, loan loss reserves, capital reserves, financial services, and development services. The Technical Assistance (TA) awards of up to $125,000 are used for capacity development to purchase
Category: news
2023 CAMEO Summit
The 2023 CAMEO Summit will take place June 7-8, 2023 in Sacramento, California. The two-day event will include Advocacy Day, where you can connect with California legislators and policymakers; and the Microlenders Forum, where we’ll discuss the most salient issues facing our industry. Big thanks to Wells Fargo, Ampac Business Capital, CIBC, Umpqua Bank, and Lenderfit for
The Need for an Equitable Small Business Recovery
Before the global pandemic, in 2019 the Tax Policy Center released disturbing data about Black and Hispanic households. Black households in America have a median net worth of $17,000 or 10% of white household wealth and Hispanics are at $20,720 or 12% of white household wealth. Nor was the pandemic kind to Black and Brown
Enacted Laws on January 1, 2023 for Micro and Small Businesses
California has laws that passed last year and took effect January 1 that impact micro and small businesses. Some legislation will increase the cost of doing business. This includes an increase in the minimum wage and expanded paid time off opportunities. Make sure your clients know about the following laws. Employee Benefit Bills AB 1041
For Your Clients: Technical Assistance Program Opportunity
Silver Lining Action Plan (SLAP™) is a proven, comprehensive, tech-enabled, data-driven behavior change growth program that will help business owners set, then hit financial goals. In addition to advancing a small business, benefits of this program include: SLAP could be useful to some of our members, Silver Lining is partnering with economic development organizations to
Supporting Micro Enterprise Home Kitchens
By Addison Peterson, CAMEO’s Policy Specialist. Since 2018, California Micro-enterprise Home Kitchen Operation (MEHKO) laws have allowed aspiring chefs to start their business at home. They no longer have to wait to save for expensive restaurant space or a food truck. This low-cost option allows a chef to narrow down their menu, test their food
Opportunity for Members: Two Cool Tools for Capacity Building
In alignment with U.S. Bank’s Access Commitment, USBCDC’s Business Impact Group is launching a new program: USBCDC Access Capacity: Strengthening BIPOC-led Nonprofits. Through this program, U.S. Bank will sponsor a limited number of BIPOC-led nonprofits to have free access to one or both of the two capacity-building platforms Resilia and Catchafire through 2023. Resilia has
CAMEO will be closed December 26 through January 2
Happy Holidays to everyone! CAMEO will reopen on January 3, 2023!
Entrepreneurship Advantage Holiday Marketplace
Last week, CAMEO and Entrepreneurship Advantage hosted a Holiday Marketplace in Los Angeles. We had vendors from local small businesses as well as an art exhibition! It was a huge success and we want to thank all those who came to support LA’s entrepreneurs.
APR Calculation Resources
If you have questions, please email Addison Peterson.