“Fight for the things that you care about, but do it in a way that will lead others to join you.” – Supreme Court Justice Ruth Bader-Ginsburg.
In this Must Know…
- CAMEO’s Statement on the 2020 Election
- Implementation of SB 1235 and Hearing
- Upcoming CAMEO Trainings for TA Providers and Microlenders
- This week’s Goodie highlight is CalOSBA’s list of 2020-2021 Small Business Technical Assistance Grant Awardees, including many CAMEO members.
CAMEO’s Statement on the 2020 Election
We join millions of Americans today as we wait for the results of the 2020 Election.
After a full vote count, we need the winner to include small business recovery as part of their COVID-19 response plan. CAMEO will continue to ensure that small businesses are a priority. As we’ve seen throughout the pandemic, small businesses are crucial to our economy and the country’s family and community sustainability and they are hurting. Small businesses need certainty. They need access to capital and a strong entrepreneurial ecosystem. The access needs to be available to all, not a select few, and resources need to be distributed equitably.
Our work of helping entrepreneurs – especially women, low wealth entrepreneurs, and BIPOC business owners – gives hope to the single mother who sent four children to college after she started her own tailoring business. Our work gives strength to those who needed it, to the successful BBQ-joint owner who had no work prospects when leaving prison, who now employs other returning citizens. Our work provides capital to the family-owned hotel to pivot their business in the middle of a pandemic.
No matter who wins, we’ll advocate for continued support of under-served and under-valued business owners – the women, minorities, veterans and immigrants that are starting businesses at far faster rates than the general population and will help our economy recover. We will continue to emphasize the key role that business ownership plays to close the wealth gap. We will continue to advocate for policies that support a strong entrepreneurial ecosystem, which is needed now more than ever.
The CAMEO Staff
Carolina, Heidi, Emily, Susan, Mark, Melissa, Michael, and Daniela
Implementation of SB 1235
The Responsible Business Lending Coalition (RBLC) sent final recommendations for the SB 1235 draft rule to the California Department of Financial Protection and Innovation (DFPI) last week. We have a lot of wins on our truth-in-lending law, but want a few improvements that will provide more transparency and ease of comparison for the small business borrower.
The DFPI is holding a public hearing on November 9, 2020 at 1:00pm PDT on the proposed regulations for SB 1235. If you’d like to testify, email Heidi Pickman for talking points.
- For TA providers: Join our next Train-the-Trainer webinar for the California Rebuilding Fund on November 12, 2020 at 10:30am PDT.
- For microlenders: Join us on November 19, 2020 at 10:00am PDT for “Managing Lending Risk in Times of Crisis” to learn how to make your lending capital go further and be more sustainable.
- The Aspen Institute published a new case study, Creating Entrepreneurship Pathways for Opportunity Youth: Lessons From Del Norte and Tribal Lands, California.
- A new consulting study by former SBA staffer Tameka Montgomery reveals small business owners’ experiences with COVID-19 and financial relief.
For Your Clients
- Small Business Majority is hosting a free webinar on November 10, 2020 at 12:00pm PDT about how the Supreme Court challenge to the ACA impacts small businesses.
- Shopify is committing nearly $130 million of resources to Operation HOPE’s One Million New Black Business & New Black Entrepreneurship Initiative.
- CalOSBA announced the 20-21 Small Business TA Grant Awardees, which include many CAMEO members.
- Access Plus Capital, Women’s Economic Ventures, and Working Solutions were among the awardees of OFN’s COVID-19 CDFI Grant Program.
- Industry News: In FY20, SBA provided nearly nine million loans worth $750 billion to stabilize the small business sector.
- Jobs: Kitchen Table Advisors, Women’s Economic Ventures, and California FarmLink announced new jobs recently. See who else is hiring!