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Clinton’s Small Business Plan; Micro Census is OPEN!

Clinton’s Small Business Plan

Earlier this week Democratic presidential nominee Hillary Clinton released her plan to help small businesses. She says that her administration would:

  • Make it easier to start a business.
  • Improve access to financing.
  • Simplify tax filing.
  • Simplify and expand a health care tax credit.
  • Make it easier to do business with the federal government.
  • Help small businesses fight large company that stiff their small business suppliers.

The specifics included elements of AEO’s 2016 Policy Platform released in July. From AEO: “This included harnessing the power of technology for improved lending, while ensuring transparency and protection for borrowers. The need for technical assistance and federal support of CDFIs and the State Small Business Credit Initiative also align with AEO priorities.”

AEO and CAMEO will work together to ensure that small and microbusiness interests are well-represented in this election and the next administration.

CAMEO-Credit Builders Alliance Webinar

Join CAMEO and Credit Builders Alliance (CBA) for Credit Building Strategies for Entrepreneurs on August 31, 2016 at 2:00pm PT.

Credit building is a powerful tool that helps entrepreneurs take control of their financial lives, establish and grow their businesses, and pursue other asset building goals. In this webinar, CBA will introduce you to the services and support available through CBA membership. In addition, you will learn about the power of credit building for entrepreneurs and how you can incorporate credit building into your array of program and support services.

CAMEO highly recommends that our members join CBA in order to best serve their clients.

The Goodies

New opportunities for training, conference information, funding, scholarships, and other information that have crossed our desks since the last Must Know. I have posted a running tab of current Industry Goodies on the CAMEO website that lists items that were in past emails. Check it out to make sure you’re not missing anything, like grants whose deadlines are still alive!

Member Kudos: The Consumer Financial Protection Bureau (CFPB) announced that CRC’s Executive Director, Paulina Gonzalez, has been appointed as a new member of its Consumer Advisory Board.

Support CAMEO Member: For the month of August, every time you shop at any of the Whole Foods Market locations in San Francisco, you’ll be able to donate your reusable bag credits to La Cocina as part of the stores’ Nickels for Non-Profit program!

Free Fundraising Tool: Take the Leaky Bucket Assessment for Effective Fundraising. By taking this Assessment, a nonprofit will have a better understanding of their fundraising resources and see where they stand in relation to other nonprofits.

Free Webinar: Join OFN on Monday, August 29 at 10:00am PT for the next webinar in the Consumer Financial Services Webinar Series, CFPB Proposed Rules for Small-Dollar Loans: An Overview and What It Means for CDFIs. The CFPB recently released proposed regulations on small-dollar loans in an effort to curb predatory practices by payday and auto title lenders, and has extended an open comment period on the rules that will close on Friday, October 7.

For Your Clients: Small Business Majority is hosting Access to Capital 101: Funding Options to Start and Grow Your Business every other Wednesday, the next one is September 7. They present an overview of alternative lending options including community development financial institutions, SBA’s loan guarantee program and reputable online options, key questions to consider when seeking funding, the Small Business Borrowers’ Bill of Rights and helpful tools and resources.

For Your Women Business Clients: Fund and Fuel Your Dreams is a 2-day event on September 8-9 where you will get hands-on, expert training on how to raise money for your business. You will leave with a step-by-step plan and resources to take the plan forward. It is also a place to connect with like-minded mission-driven, heart centered women entrepreneurs in a supportive fun environment!

Attention CDFIs: The Department of Treasury (Treasury) is seeking your comments on the CDFI Program’s forms and applications. Federal agencies are required to give stakeholders the opportunity to comment on the agency’s forms and information gathering processes. Treasury is soliciting feedback on the Financial Assistance Application and the Technical Assistance Application. Comments are due by September 12, 2016.

Professional Development Opportunity: You’re invited to join the CFED Assets & Opportunity Network and Center for Financial Security for a new four-part virtual Listening & Learning Series on Financial Coaching & Counseling. The last one is on Wednesday, September 14 from 12:-1:30pm PDT. The A&O Network has also released Financial Coaching Census.

PayDay Lending Rules: The Consumer Financial Protection Bureau (CFPB) has proposed a rule aimed at reshaping the market for payday loans and other short-term credit. The proposal would require lenders to ensure that the consumer has the ability to repay the loan, provide notice that the lender is withdrawing funds from the consumer’s account and cease automatic withdraws if the consumer’s account is overdrawn. Comments on this proposal are due September 14, 2016.

Asset Building: Bay Area AFN presents Consumer Engagement. Join a conversation with leading experts and practitioners who will introduce and describe consumer engagement as an effective strategy to move consumers to desire the very tools and services that will help them build financial assets, skills and confidence. Register for the Wednesday, September 14, 2016 from 2:00-4:00pm PDT at the United Way of the Bay Area, 550 Kearny St #1000, San Francisco, CA 94108.

SUSTYbiz16 Conference: The upcoming elections will impact the future of sustainable business. ASBC’s 5th Annual Summit, September 25th-27th brings together a remarkable cast of political pundits, advocacy groups and business leaders to help see past the clutter of the 24-hour news cycle. It will be an exciting few days as we visit the Obama White House, lobby Congress, applaud this year’s SUSTY Award recipients and enjoy fascinating conversation among sustainable business leaders.

Inland Empire 2035 Economic Forecast Conference: Join UCR School of Business Administration on September 29, 2016, 8:00-11:30am Riverside, CA at Riverside Convention Center, 3637 5th St, Riverside, CA 92501. Use discount code cameo16 for a $25 discount. Register for the conference.

OFN Conference: Registration is now open for Opportunity Finance Network’s annual conference – Rethink. It takes place October 24-27, 2016 in Atlanta, GA.

Conference: Save the Date for the 6th Annual Asset Building SymposiumFostering Economic Equity in a Changing Bay Area on November 3, 2016.

New Report: Opportunity Fund released a very important research report, Unaffordable and Unsustainable: The New Business Lending on Main Street.” Until now, we have been relying on stories to explain what’s happening with online lending. Now we’ve got some data on the loans and cash advances being offered to small businesses by short-term, high-cost alternative lenders. Cliff notes on findings: 94% interest rates; average payment is 1.78x income -YIKES.