Access to capital

Small businesses struggling to access capital, harming their financial recovery

Publisher: 
Small Business Majority
English
Date: 
Wednesday, February 17, 2021

Small business owners continue to experience significant financial setbacks from the COVID-19 pandemic that are being exacerbated by challenges accessing the capital they need to sustain their businesses. A new national survey of small business owners sheds light on their struggles to secure financing and their views on policy solutions that could help small businesses survive and grow post-pandemic.

Small Business Majority writes in support of California's FY21-22 proposed budget

On February 11, Small Business Majority submitted a letter to the Chairwoman of Budget & Fiscal Review Committee and the Chairman of the Committee on Budget in support of Governor Newsom's proposed budget, which includes additional funding and support for small businesses. 

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Submitted by Small Business Majority on Tue, 02/16/2021 - 08:13

Small Business Majority Comments on SSBCI Program

Small Business Majority submitted a comment today on the State Small Business Credit Initiative (SSBCI) ahead of a House Committee on Financial Services subcommittee hearing about the program. SSBCI was a critical resource to strengthen state programs that support financing for small businesses across the country. 

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Submitted by Awesta Sarkash on Thu, 02/04/2021 - 06:42

Small businesses continue to face closures in 2021

Publisher: 
Small Business Majority
English
Date: 
Wednesday, January 27, 2021

Nearly a year into the COVID-19 pandemic, small business owners continue to experience significant setbacks and reduced customer demand. A national survey of small business owners spotlights the distressing effects of the pandemic and what owners anticipate in the months to come. The polling also reveals the disproportionate impact of the economic crisis on small business owners of color, particularly Black, Latino and Asian American/Pacific Islander entrepreneurs. 

Kansas City entrepreneur cashes in on her experience to provide telehealth services to the underserved

Posted: January 21, 2021

When Dr. Shelley Cooper launched her telehealth consulting business Diversity Telehealth LLC in Kansas City, Mo. in 2015, she knew she’d face an uphill battle due to the nature of her work. “‘What is telehealth, and how does it work?’—Those are the questions I get all the time,” says Dr. Cooper. “But I’m here to tell you about the lifesaving benefits it can provide, and why you should care about it.”

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Delaware dry cleaner gets washed out with debt to keep his business afloat

Posted: January 6, 2021

After working for several companies in the public and private sector, David Mercer Louie realized that he would always have little to no control over his own paycheck. “Even if I gave over 100% of my time and effort to these companies, I’d never earn as much as I could if I worked for myself,” says David. In his case, the alternative was more than obvious: Join the family business at the Harry Louie Laundry and Dry Cleaners in Dover, Del.

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New surge in COVID-19 cases threatens the livelihood of Nebraska business owner

Posted: December 16, 2020

Veteran entrepreneur Roxanne Huggins has owned the Comstock Premier Lodge in Sargent, Nebraska since 2009. Working with her husband Mitch and one other employee, they have managed to expand their business from a large farm to a year-round bed & breakfast hunting lodge and ranch. 

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Small Business Majority Submits Comment Letter on 1071

Today, Small Business Majority submitted a letter regarding the Consumer Financial Protection Bureau's proposals under consideration for the implementation of Dodd Frank Section 1071. Successful implementation of Section 2071 would ameliorate the systemic barriers that women business owners and entrepreneurs of color face when attempting to access capital to start, grow and sustain their enterprises. 

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Submitted by Awesta Sarkash on Wed, 12/16/2020 - 06:12

California small businesses face difficult decisions as pandemic continues and funding freezes

Publisher: 
Small Business Majority
English
Date: 
Wednesday, December 16, 2020

As the COVID-19 pandemic has raged across the country and resurges in California, small business owners continue grappling with the effects of state and local public health orders and a loss in consumer demand. Nine months into this crisis, California’s small business owners say their businesses have been diminished, leaving them with reduced revenue and operating capacity. They’re making difficult decisions that are impacting the workforce through reduced wages, working hours and employee benefits.

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