2023 CAMEO Summit Updates | Support SB 666

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2023 CAMEO Summit

Join us June 7-8, 2023 at the CAMEO Summit, “Strengthening the Entrepreneurial Ecosystem to Close the Wealth Gap.”

We are working on blocking out a limited number of rooms for the Citizen Hotel, (10 minute walk). The price will be $219+tax. Details will be forthcoming next week. Other hotels nearby include:

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Responsible Business Lending – Support SB 666

SB 666 (Min) passed out of the CA Senate Banking Committee yesterday with a unanimous vote and now heads to the Senate Judiciary Committee (date TBD).

This bill will prevent financing companies from charging exorbitant fees in connection with a commercial financing transaction with a small business, including, among others, ACH fees and fees that do not have a clear corresponding service. Support the bill by signing our SB 666 coalition letter.

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SBA Issues Final Rules on Business Lending Programs

Last week, the SBA issued several final rules on its 7(a) and 504 business loan programs that go into effect on May 11 and 12, 2023.

The rules are meant to modernize its regulations and apply to the Microloan Program, Intermediary Lending Pilot Program, Surety Bond Guarantee Program, the Disaster Loan Program, and Small Business Lending Companies programs.

CAMEO submitted a letter urging the SBA to include responsible lending standards into the regulations when allowing new lenders into the program, but to no avail. We are looking into other avenues to address our concerns.

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