In this Must Know…
- Take Action: Sign our letter to Congress by November 15, 2024 to ensure that the SBA Disaster Relief Fund is fully funded.
- Join our 30th Anniversary Celebration on November 13-14, 2024 to learn how our members are “blowing up” the 5Cs of credit!
- CAMEO Network at OFN40
- Happy Halloween! 🎃
- This week’s Goodie Highlight is the Federal Reserve’s 2024 Small Business Credit Survey, which closes TOMORROW, November 1, 2024!
Take Action: Tell Congress to Fund SBA Disaster Loans
The SBA’s Disaster Relief Fund ran out of funds to provide loans to small businesses on October 15, 2024, following the devastation caused by Hurricanes Helene and Milton.
Swift and reliable disaster relief for small businesses is critical to keep local economies afloat.
Sign our letter to Congress by November 15, 2024 to ensure that the SBA Disaster Relief Fund is fully funded as part of the year-end spending package. This will safeguard the livelihoods of countless small business owners in areas across the country that are often at risk of natural disasters.
Lending for Equity: Blowing up the 5Cs of Credit
The 5Cs of credit are used by many lenders to determine whether or not a borrower receives a loan, but often are a systemic barrier to access to capital. The California Small Business Coalition for Racial Justice worked to create a new set of underwriting criteria that meets our sector’s clients where they are. Meet the new 4Cs of credit.
On November 13, 2024, a panel featuring members of the Coalition will introduce you to the 4Cs, both from a mission lender’s and a TA provider’s perspective.
Don’t miss this session and many other thoughtful conversations at our 30th Anniversary Celebration!
CAMEO Network at OFN40
Last week, Opportunity Finance Network held its National Conference in Los Angeles. Several CAMEO Network staff members had the opportunity to attend, including Adriana Williams, Baldev Birk, Carolina Martinez, Douglas Craven, Emily Gasner, Heidi Pickman, Liza Rivera-Gonzalez and Mark Herbert.
We valued this great occasion to connect with and learn from leaders and thinkers in the community development sector across the country.
Read what our staff had to say about the event in our latest blog post!
The Goodies
Industry News
- The Small Business Administration (SBA) provided a record $56 billion in loans to small businesses from October 2023 through September 2024.
- The Department of Defense and the SBA announced the first of its kind group of funds for small businesses under the Small Business Investment Company Critical Technology (SBICCT) Initiative.
For Your Clients
- PCV is offering $500 for small business owners to participate in a survey to understand the challenges and opportunities businesses face when applying for and winning procurement bids.
- Ask your clients to complete the Federal Reserve’s 2024 Small Business Credit Survey. The deadline is TOMORROW, November 1, 2024!
Other Goodies
- New Resource: IEDC has a collection of economic recovery resources for disaster-impacted communities at RestoreYourEconomy.org.
- Jobs: Americans for Financial Reform Education Fund, National Consumer Law Center, and the National Center for Smart Growth announced new jobs recently. See who else is hiring!