Independent Workers; Importance of Collecting Lending Data

  • CAMEO members that fill out the Census by July 14, 2017 will receive $100 toward lunch for their staff.
  • Save the Date: Microlending Essentials Training, November 7-9, 2017 in Los Angeles. This new training program is for staff who want to learn the difference between micro and small business lending and do it right.
  • Take Action – Small Business Lending Data
  • Focus on Independent Workers
  • The Goodies – This week’s highlight is USDA’s application deadline for technical assistance and training grants in the Community Facilities program is July 24, 2017 (more info below).
  • Take Action – Small Business Lending Data

    Did you know that there is no national data collection on small business lending that could help see where there are gaps and/or discriminatory practices? The Consumer Financial Protection Bureau will begin collecting information on small business lending practices from lenders across the U.S. and are asking for input about how and why this information should be collected.

    Significant political opposition to this important issue exists. Recently, the House passed the Financial Choice Act, which included the repeal of collecting small business lending data (among other bad provisions). The Treasury Department and the Acting OCC Comptroller also questioned the benefit of collecting small business loan information.

    Such data have existed for home mortgage lending for years and that data transparency has led to better and more fair lending by mortgage lenders. The purpose of small business lending data will identify lending needs, help local governments to allocate resources, and to help identify possible discrimination.

    Ways business assistance providers and microlenders can be involved:

    • Submit a comment directly to the CFPB before the deadline on September 14, 2017.
    • The California Reinvestment Coalition has a survey – CRC Small Business Lending Survey – that will help develop a letter to send to the powers that be.
    • It is critical that your client’s voices are heard! Ask your clients to weigh in – you can reach out to them directly or ask them to complete these brief surveys by Opportunity Fund (English, Spanish)

    Focus on Independent Workers

    For obvious reasons, I’m writing about independent workers this week.

    As we’ve written before, an increasing number of Americans are engaging in independent work – 70 million or 1/3 of the workforce according to the Federal Reserve. This isn’t only happening on business-to-client platforms such as Thumbtack, TaskRabbit and Lyft, but at traditional companies such as retail stores and large food chains. These independent workers are scheduled and paid on an as-needed basis instead of having steady hours and earnings, so experience income volatility for the worker.

    Join the Annie E. Casey Foundation for “Gig Workers and the Public Workforce System“, on July 18, 2017 at 11:00am PT // 2:00pm ET. The webinar will explore the role that public workforce systems can play in supporting job seekers and employers as they navigate the rise of the gig economy and highlight lessons learned from a UK pilot. The pilot used an online platform that made it easier for individuals to piece together stable work by matching them with employers and has created a more robust public infrastructure for collecting and sharing data about the emerging gig economy. They also will share recommendations from 25 workforce bodies across the United States about how a similar approach could be taken here and discuss how others are applying these strategies to their own work.

    Another group of thought leaders gathered to discuss the #FutureofWork and helping independent workers thrive. You can listen on the host’s site – Reinvent.

    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!

    Free Webinar: On Wednesday, July 12, 2017 at 10:00am, CalNonprofits and the California Council of Churches will present a webinar to educate nonprofit and foundation staff and board members about who supports and who opposes repeal of the Johnson Amendment, and what the arguments are on each side. The Johnson Amendment, which guarantees that nonprofits — including churches and religious organizations — cannot endorse candidates for election, is under attack by the Trump Administration.

    For Your Clients:Our colleagues at Small Business Majority are hosting the following webinars starting on July 12, 2017: Access to Capital 101: Funding Options to Start and Grow Your Business (in English and Spanish) and Money Now, Money Later: The ABCs of Financing Your Small Business and Building Your Retirement

    Open for business: GrantAdvisor, a Yelp! for grant makers is now open for you to hare your experiences of working with a foundation. The program is sponsored by CalNonprofits, GreatNonprofits, and Minnesota Council of Nonprofits.

    Free Webinar: Friedman Associates is hosting – Pursuing CDFI Certification in Uncertain Times on July 13, 2017 at 11:00am-12:30pm PDT.

    Job Quality Fellowship: Aspen’s Economic Opportunities Program is accepting applications for the Job Quality Fellowship. Nominations are due by July 10, 2017. Applications are due on July 17, 2017.

    Grant Opportunity: The USDA is seeking applications for technical assistance and training grants in the Community Facilities program. Learn more from the Federal Register Notice. The deadline is July 24, 2017.

    Free Webinar: Cutting Edge Capital hosts “Economic Activism Starts at Home: The Impact of Community Investment Funds” on July 27, 2017 at 11:00am PT. What if your community can come together to fund local ventures? Join Cutting Edge Capital’s Kim and Brian to find out how to utilize community investment funds.

    For Your Clients:The Census Business Builder is an easy to use, mobile-optimized tool that provides access to selected demographic and economic data from the U.S. Census Bureau tailored to business owners and regional planners.