In this Must Know…
- Join our Behavioral Science in TA Info Session TOMORROW, October 13, 2023 at 10:00am PT.
- The SBA released a notice that the Community Advantage Pilot Program will be terminated effective October 31, 2023.
- State Legislation Signed: SB 33 and AB 258.
- CAMEO is hiring a Program Assistant, a Program Manager, and a Senior Program Manager, CDFI Programs. Come work with us!
- October is Filipino American History Month! Support Filipino-owned businesses in your community.
- This week’s Goodie Highlight is RuralRISE’s speaker series on “Building Entrepreneurial Ecosystems into Local Economic Development Plans” on October 19, 2023 at 11:00am PT. Heidi Pickman is one of the speakers!
Behavioral Science in TA – Info Session
As you may have heard, CAMEO received an SBA PRIME grant to incorporate behavioral science into business technical assistance. We’re kicking off the project with an introductory virtual informational session TOMORROW, October 13, 2023 at 10:00am PT!
On the session, you’ll learn what behavioral science is, see a demo of the software that we will use for this project, and learn about our cohort and how to apply. Carissa Reiniger from Silver Lining Action Plan and her staff will be joining us.
CAMEO Out and About
October is a busy month for our sector! Read our latest blog post to learn what our staff has been up to and the events coming up in the pipeline.
A few highlights:
- Liza Rivera-Gonzalez graduated from the Pete Garcia Economic Development Fellowship at the 2023 NALCAB Conference.
- Carolina Martinez participated in an Entrepreneurship and Economic Mobility Task Force luncheon, which was led by by CalOSBA Director Tara Lynn Gray.
- Heidi Pickman attended NALCAB’s National Alliance of CDFI Executives (NALCE) Roundtable at the White House.
SBA Community Advantage Program Comes to an End
The SBA released a notice that the Community Advantage Pilot Program will be terminated effective October 31, 2023. This program was introduced in 2011 to make 7(a) loans to underserved small businesses under the Small Business Act.
The decision comes after the SBA issued a Final Rule that creates a new type of Small Business Lending Company (SBLC) called a Community Advantage SBLC. These lenders will make 7(a) loans under a permanent license with the aim to reach underbanked communities.
State Legislation Signed
This week, Governor Newsom signed two bills that will benefit small business owners all across California.
- SB 33 eliminates the 2024 sunset date for SB 1235. This guarantees transparency for businesses and certainty for providers that the required financing disclosure rules implemented in December 2022 will remain in place.
We are still waiting for the Governor to sign SB 666, which limits junk fees in small business financing.
The Goodies
For Your Clients
- Small Business Majority and Women’s Economic Ventures are hosting a virtual event celebrating National Women’s Small Business Month on October 17, 2023 at 3:00pm PT.
- The Lawyer’s Committee for Civil Rights of San Francisco is hosting a series of legal webinars for immigrant-owned businesses from October 17-26, 2023.
Industry News
- The SBA is currently accepting nominations for its 2024 National Small Business Week Awards, including the Small Business Person of the Year. Nominations are due December 7, 2023.
- SBA Administrator Isabella Casillas Guzman revealed that SBA loans to Latino-owned businesses have increased over 1.5 times in FY2023.
Virtual Events
- Join RuralRISE’s speaker series on “Building Entrepreneurial Ecosystems into Local Economic Development Plans” on October 19, 2023 at 11:00am PT. Heidi Pickman is one of the speakers!
- Join CBA’s Community Webinar, “Supporting Muslim Participants” on October 19, 2023 at 11:00am PT.
Other Goodies
- Funding Opportunity: The California Investment and Innovation Program published its NOFA last week. The deadline to apply for funding is November 1, 2023.
- Jobs: CAMEO, NCRC, the US Treasury Department and Accessity announced new jobs recently. See who else is hiring!