On February 23, Eda Henries, Founder & Managing Principal of Henries and Co. gave testimony before the New York Committee on Consumer and Worker Protection about the need to protect small businesses from unfair and abusive lending practices.
On February 4, Small Business Majority Colorado Director Hunter Nelson testified in support of HB26-1003. This legislation would make improvements to the Colorado Loans to Increase Mainstreet Business Economic Resiliency (CLIMBER) Loan Fund while also supporting the Colorado Startup Loan Fund.
On March 2, former Mike Horn testified in support of HB-1007. This legislation would force non-bank lenders to transparently disclose the true APR, which is the only established metric that enables borrowers to make apples-to-apples comparisons between different financing products.
On February 20, Small Business Majority State Policy & Advocacy Vice President Awesta Sarkash sent a letter to Virginia policymakers urging them to support a budget amendment that would increase funding for the CDFI fund so that Virginia entrepreneurs can access the capital they need to start and grow their small businesses.
On February 9, Small Business Majority and the Responsible Business Lending Coalition sent a letter to the Pennsylvania House Commerce Committee urging them to pass HB 638. This legislation would prohibit confessions of judgements in commercial financing, protecting them when they are accessing capital.
North Carolina is home to more than 1 million small businesses, employing 1.8 million people and accounting for 99.6% of all businesses in the state. They play a significant role in our state economy and workforce. However, national economic uncertainty coupled with an especially fast-changing business landscape has required small businesses to adapt, yet again.
Small Business Majority recently released its 2026 federal policy agenda, The Agenda for America’s Entrepreneurs, which outlines policies to empower small businesses to build a thriving and equitable economy.
On December 15, Small Business Majority and partner organizations sent a letter to U.S. Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought in strong opposition to the proposed rule that would revise the Bureau’s 2023 Small Business Lending Rule, which implements Section 1071 of the Dodd-Frank Act. This would significantly undermines previous efforts to increase transparency and expand compliance for lenders in the small business market.
The State Small Business Credit Initiative (SSBCI) represents a critical federal investment in U.S. small businesses. Originally established under the Small Business Jobs Act of 2010 and reauthorized under the American Rescue Plan in 2021, SSBCI provides states, territories and tribal governments with federal funding to incentivize small business lending. Through a range of programs, SSBCI helps ensure that entrepreneurs have access to the capital they need to launch and sustain their businesses. Our research and interviews with small business owners highlight both the successes and the challenges of the program. Based on these findings, we also developed recommendations to help states maximize SSBCI’s impact and ensure that dollars flow to the smallest and most under-resourced entrepreneurs who need them most.
On behalf of a broad coalition representing over 500 for-profit financing companies and nonprofit advocates for economic opportunity, as well as thousands of small business owners, Small Business Majority, the Responsible Business Lending Coalition and CAMEO network offered strong support for SB 362 and request that California Governor Newsome sign it into law. This bill will create a fair financial marketplace where good actors compete fairly and small businesses thrive.
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