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Transparency in Lending Bill Passes! One More Step; Serving Veterans?

In this Must Know…

We Did It! Small Business Transparency Bill Passes!

There is nothing better than returning from vacation and finding out that we made history! I am so excited to share the following: The California small business truth-in-lending bill that we have been working on passed late Friday night, the last day of the legislative session. The vote was bipartisan with the Assembly voting 72-3 and the Senate 28-6!

Thanks to all of you who wrote letters and joined the unique coalition that CAMEO and our partners put together consisting of advocates, for-profit companies, small business lenders, small business service providers, and community organizations. We overcame opposition from parts of the industry that would prefer not to disclose the rates they charge.

However, before celebrating SB 1235 still needs to be signed by the Governor. We need your help to make truth in disclosures the law in California! Please send a letter ASAP to Governor Brown asking him to sign SB 1235 (click for a template). Email to

If Governor Brown signs the bill, it becomes law on January 1, 2019. Before companies need to begin providing the disclosures, regulations will need to be developed by the Department of Business Oversight (DBO). CAMEO and our partners will be involved in that process to ensure the transparency standards chosen really do serve small business owners. (Our work is never really done, is it?)

Other resources for SB 1235:

SB 1235 wasn’t the only legislative success this year. Three other bills that we supported also passed:

  • SB 946 (Lara) – a bill that will decriminalize sidewalk vending statewide and empower local governments to set parameters for safe, regulated vending.
  • AB 626 (Garcia) – 2018 Homemade Food Operations Act will allow the kitchen cottage laws to extend to home cooked meals.
  • SB 822 (Wiener and De León) – California Internet Consumer Protection and Net Neutrality Act of 2018 will establish the strongest net neutrality rules in the nation.

Are You Serving Veteran Entrepreneurs?

How does your organization support entrepreneurship among military families?

CAMEO’s WOVEN program – Women Veteran Entrepreneurship Network – offers year-round community events to foster new businesses. Veterans Day is an excellent time to promote your business development classes and special programs for veterans, military spouses and caregivers. Join us for tips on how to engage more military-connected business owners in time for Veteran’s Day and Veteran’s Small Business Week (November 5-9). Hint: don’t ask them if they are a veteran or not. Find out what to ask instead.

Register for our Serving Veteran Entrepreneurs webinar on Thursday, September 20, 2018, at 2:00 pm. We’ll also leave time for attendees to share best practices on what you are doing to serve veteran entrepreneurs.

  • Melanie Rae, CAMEO’s WOVEN Program Director and founder/author of Guided Business Plan
  • Alicia Ogozlay, WOVEN Member, US Air Force, owner, Exclusive Beauty (invited)
  • Melissa Washington, founder, Women Veterans Alliance
  • Mike McGrane, VP, Regional Lending Director, Veterans Launch

Entrepreneurship offers veterans increased opportunities to maximize their strengths and skills, to achieve their financial and career goals, and to customize their employment to accommodate their challenges. Microbusiness and self-employment are often the most appropriate option for returning veterans because of the technology available and the flexibility afforded.

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!

For Your Clients: Samaschool’s 1-hour Gig Economy Essentials training is newly available on the web to anyone! It covers critical topics like freelancing vs. employment, where to find freelance work, and how to attract clients.

New Report: Accion and Opportunity Fund conducted a study to understand how small businesses perform after receiving capital from mission-based lenders. They tracked 500 clients to observe sustainability, sales, profit, and employment capability. Some of the highlights: the majority of small businesses that obtain loan funds from mission-based lenders remain in business 2-3 years after receiving capital; over 50% increased in sales and profits; small business owners who received loan funds experienced increased feelings of competence and confidence. The findings present a case for the importance of mission-based lenders to the goal of creating financial inclusion for underserved entrepreneurs.

New Report: The new 2018 State of Women-Owned Businesses Report commissioned by American Express does a fantastic job of measuring successes. Four out of every 10 businesses in the United States is now women-owned. It also shows us the challenges. Women-owned businesses still see only 4.3% of total revenues and 8% of all employment.

Free Webinar: Register for What’s Next for Small Business Healthcare? on September 11, 2018, 9:00-10:00am PT. This webinar will focus on what the healthcare law, the Affordable Care Act, means for your clients’ small businesses. It will focus on federal provisions to help small business owners understand how the law will affect them. Topics being discussed include: Small business tax credits (available to businesses and tax-exempt non-profits)— who’s eligible for them and how to claim them; Shared responsibility; Cost containment; and Tools and resources available for small businesses interested in learning more about the law.

Free Webinar: Small Business Majority hosts “Grow Smart: Wealth Building Tactics for Small Business Owners” on September 11, 2018, 11:00 am – 12:00noon. In this presentation, they will discuss some steps to follow to help build wealth as a small business owner, including growing a business’s cash reserves, setting up a small business retirement plan, fostering a culture of savings at your business, identifying financial planning tools and more.

Free Webinar: Small Business Majority hosts “Business Leader Briefing: What’s Next for Small Business Healthcare” on Wednesday, September 12, 2018, 12:00-1:00 pm PDT. The Trump administration has recently released new rules that will have a profound impact on the insurance marketplaces and health insurance coverage for small businesses, solo entrepreneurs and employees. The webinar will navigate these changes and discuss proactive state policy solutions that can help stabilize the marketplaces for small businesses.

For Your Clients: SCORE and Home Shopping Network (HSN) have partnered up to search for new consumer products to be introduced to HSN’s audience of 96 million households! Encourage your clients who focus on consumer products to submit their product offering for evaluation. The Northern California program begins with a free Informational Event, to be held at West Valley College, Saratoga on September 15, 2018, with the actual product pitches in mid-November. To learn more about this opportunity, download a Score Your Dream Flyer.

Professional Development: Opportunity Finance Network will hold Executive Training for CDFI Board Members on Thursday, September 27, 2018, in Jacksonville, FL. This is an executive-level course designed to strengthen high-performing CDFI board leadership.

Professional Development: Join NALCAB’s National Training and engage with a diverse group of network experts who believe that Juntos Somos Más/Together, We Are More. The training will be held October 1-4, 2018 in San Antonio, Texas. NALCAB’s training serves as a platform to share and learn about innovative and culturally relevant best practices for application in the communities that they serve.

Professional Conference: The 34th OFN Conference – “CDFIs: Agents of Change” – takes place October 8-11, 2018 at the Marriott Marquis Chicago.

Professional Development: CALED is partnering with the California Academy for Economic Development, Fresno State, and the University Business Center, to bring you the Introduction to Economic Development Certificate Program (click the link for the agenda and more information.) The class will be held October 22-25, 2018 in Fresno.

For Your Clients: The U.S. Small Business Administration is now accepting nominations for its 2019 National Small Business Week Awards, including the annual Small Business Person of the Year. The deadline is January 9, 2019.

For Your Clients: Greenlining invites you to take the 2018 Survey of U.S. Latino Business Owners. Every year, the Stanford Latino Entrepreneurship Initiative (SLEI) surveys thousands of Latino business owners across the country to measure the critical impact Latino entrepreneurs have on the U.S. economy. Let your clients know that if they fill out a survey, they will have a chance to win a $50 Amazon gift card (for completed surveys).

For Your Clients: Download a CalSavers brochure that explains California’s new retirement savings program for private sector workers.

New Report: Emergent Research released “MBO Partners State of Independence in America,” a study which offers insights into the growth of the independent workforce.

New Resource: The California Reinvestment Coalition has released a guide for banks on how to better serve immigrant communities.

New Resource: Credit Builders Alliance released Achieving Credit Strength: A Toolkit for Supporting Returning Citizen Entrepreneurs.

Job Opportunities: JEDI, California Farmlink, Cutting Edge Capital, Chinatown Service Center, Pacific Community Ventures, Women’s Economic Ventures, and Santa Cruz Community Credit Union are hiring! Please check CAMEO’s job page for more information and other listings.