In this Must Know…
- CAMEO is the Network Manager for the California SSBCI TA Program
- MEHKO Updates – Submit your proposal for the MEHKO Advocacy Cohort by April 15, 2024!
- Federal Budget FY2024
- CAMEO CEO Carolina Martinez shared her thoughts on the importance of CDFIs in closing the small-business financing gap for this recent American Banker article.
- This week’s Goodie Highlight is the SBA Prime Grant! Applications are due April 12, 2024.
CAMEO Is the Network Manager for California SSBCI TA Program
We’re excited to announce that the California Office of the Small Business Advocate (CalOSBA) named CAMEO as the Capital Readiness Network Manager for the Technical Assistance for Capital Readiness Program. In this role, CAMEO will manage a network of resource partners in an effort to ensure underserved small business owners are equipped to access lending opportunities from state-backed programs, traditional banks, and mission-based CDFIs.
These investments will begin reaching Main Street borrowers this year as part of the state’s ongoing efforts to support small businesses, spur job creation, and continue to create an inclusive and prosperous California economy for all.
MEHKO Updates
Last week’s HomeCOOKed Conference, hosted by COOK Alliance, was a great success with over 200 registrants! We had a designated breakout session that focused on what the MEHKO project is and how to join the MEHKO Advocacy Cohort.
If you missed the conference, you can watch the recording of the breakout session here and view the slide deck here.
And don’t forget to submit your proposal for the MEHKO Advocacy Cohort by April 15, 2024!
Federal Budget FY2024
On Saturday, the U.S. Senate passed the second six-bill spending package which completes funding for the federal government for FY2024. This package contains the Financial Services and General Government (FSGG) bill, which funds all SBA and Treasury programs.
Below are the final funding levels for several small business programs:
- SBA PRIME: $7 million ($1 million less than 2023)
- Small Business Development Centers: $140 million (same as 2023)
- Women’s Business Centers: $27 million (same as 2023)
The Goodies
For Your Clients
- The 2024 SBA T.H.R.I.V.E. Emerging Leaders Reimagined program will provide free, comprehensive business coaching and education to CEOs of small businesses. Applications close April 28, 2024.
- LegalZoom has teamed up with the NBA, WNBA, and NBA G League for Fast Break for Small Business, administered by Accion Opportunity Fund. The initiative awards $10,000 small business grants and up to $500 in LegalZoom services.
Professional Opportunities
- The Greenlining Institute’s 2024-2025 Leadership Academy’s Fellowship Program will cultivate the next generation of racial equity leaders through hands-on experience and career building opportunities. The deadline to apply is April 5, 2024.
- The Small Business Anti-Displacement Network’s 2024 Call for Case Studies of community ownership strategies is open until April 18, 2024.
Member Kudos
- In 2023, Working Solutions disbursed $6.9 million in small-dollar loans and grants to 223 small businesses. Read their full FY2023 Social Impact Summary.
- First Community Capital reported substantial achievements and financial growth for FY2023, including getting certified as a CDFI.
Other Goodies
- Funding Opportunity: Applications are open for the SBA’s PRIME Grant until April 12, 2024.
- Jobs: Inclusive Action for the City, Alameda County Office of Education, Renaissance Entrepreneurship Center, the California Budget & Policy Center, and La Cocina announced new jobs recently. See who else is hiring!