The Responsible Business Lending Coalition submitted a letter of support to the U.S. House Committee on Financial Services on H.R.3490, the Small Business Lending Fairness Act, which would address one of the most egregious predatory practices in small business financing. Small business borrowers can fall prey to confessions of judgement with little recourse, forcing some to close their business when they're unable to keep up with their payments. Banning confessions of judgement would remove arcane legal language meant to mislead business owners into signing away rights.
Small Business Majority submitted a letter of support to the U.S. Senate Committee on Small Business and Entrepreneurship on Ushering Progress by Leveraging Innovation and Future Technology (UPLIFT) Act of 2019, which seeks to amend the Small Business Act to spur entrepreneurial ecosystems in underserved communities.
Small Business Majority submitted comments to the Missouri Department of Commerce and Insurance in response to a request for information (RFI) regarding the opportunity for the state to request 1332 state innovation waivers through the U.S. Department of Health & Human Services. The comments discussed the current landscape for small business healthcare and how state waivers must be structured in a way that do not increase costs for some consumers or create parallel marketplaces.
On October 3, Small Business Majority's Midwest Outreach Manager and Women's Entrepreneurship Manager Geri Aglipay testified in Chicago at Senator Duckworth's field hearing for the U.S. Senate Committee on Small Business & Entrepreneurship titled, "Barriers to Entry in the Tech Industry for Diverse Entrepreneurs." She advocated for an expansion of SBA lending programs for underserved entrepreneurs and extending Truth in Lending Act disclosures to protect small business borrowers.
Small Business Majority, as part of the Responsible Business Lending Coalition, submitted comments to the Department of Business Oversight regarding implementation of California's SB 1235, the nation's first truth in lending law for small business financing. We urged the Department to implement strong standards that will ensure small business owners have the opportunity to understand the financing they are being offered in a clear, concise manner that enables informed comparison across all their financing options.
On July 24, 2019, Virginia small business owner Muneer Baig testified before the U.S. House Committee on Small Business to explain why the Tax Cuts and Jobs Act (TCJA) hasn't helped his small business.
On July 22, Small Business Majority filed an amicus in New York vs. Department of Labor, urging the U.S. Court of Appeals for the District of Columbia to uphold a previous decision to strike down a U.S. Department of Labor Rule that makes it easier for groups to form association health plans (AHPs). Small Buinsess Majorirty believes rejecting this final rule is essential to protecting the ACA's gains for small businesses, their employees and the self-employed.
Small Business Majority and California Association for Micro Enterprise Opportunity (CAMEO) write in support of Governor Newsom’s proposal to expand the CalEITC program, which will benefit many self-employed entrepreneurs. Governor Newsom’s budget proposal would expand the CalEITC program to individuals making up to $30,000 annually, a limit that would ensure many low-income solo entrepreneurs are eligible.
On May 22, 2019, Small Business Majority CEO John Arensmeyer testified before a joint hearing of the Senate Committee on Small Business & Entrepreneurship and the Senate Homeland Security & Governmental Affairs Subcommittee on Regulatory Affairs and Federal Management to discuss the reauthorization of the SBA Office of Advocacy. His testimony discussed the important role of the Office of Advocacy and why small business regulations should not be characterized as all good or bad, but rather considered on a case-by-case basis.
Small Business Majority submitted comments in support of California's AB 1790, which clarifies regulations for online e-commerce marketplaces regarding the collection and use of funds belonging to small business sellers on these marketplaces. The comments explained how clarifying these regulations will reduce administrative burden on small businesses selling goods and services online.