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Responsible Small Business Lending Win | Lawsuit Targets Fund for Black Women Entrepreneurs

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Responsible Small Business Lending Win

graphic representing a lending rule

Earlier this month, California’s DFPI finalized a rule that will expand its authority to regulate unfair, deceptive, and abusive acts and practices (UDAAP). With the expansion, DFPI will be able to issue rules defining UDAAPs for commercial financing. This is great news! These regulations create UDAAP authority and require firms to report APR and is a mini version of the CFPB’s 1071 rule. CAMEO worked with the Responsible Business Lending Coalition and other colleagues to submit comment letters. We obtained most of what we asked for and we are working on a strategy to remedy what wasn’t included in the regulations. Thanks to all of you who signed onto the comment letters!

collage of photos of black female venture fund managers

Lawsuit Targets Efforts to Support Black Women Entrepreneurs

According to CrunchBase, funding to Black female startup founders makes up less than 0.35 percent of all venture capital spent in the US. Funds like the Fearless Fund are vital in tearing down the longstanding structural barriers that have kept this severely underrepresented group from accessing opportunities.

promo graphic for Access to Capital for the Green Economy

Summer School Recap

Yesterday, we held another Climate + Small Biz Summer School session. This time, we tackle access to capital for the green economy.

First we welcomed Vincent Barnes from the Alliance to Save Energy who gave us even more info on the Greenhouse Gas Reduction Fund. Then Jen Leybovich Verne from Main Street Launch helped us tease out the opportunities the fund presents and also discussed her CDFI Climate Crisis Working Group. And finally, Jonathan Verhoef from the California Treasurer’s Office gave us the run down on their GoGreen Business Energy Financing Program which is looking for participating lenders!

If you missed the live session, you can watch the recording here.

Our final summer school session (for now) will be about Operationalizing Climate Programs and will take place September 13, 2023 at 11:00am PT. We will tackle how to engage your low-income clients in the climate discussion.

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