On November 14, Small Business Majority, alongside 20 business support organizations, submitted comments to the U.S. Small Business Administration in response to their proposed rule that would update eligibility for justice-impacted individuals seeking loans through the Agency. The letter outlines support  for the rule and offers recommendations on how to continue to serve justice-impacted entrepreneurs. 

More than 80 small business owners and advocates signed on to Small Business Majority's letter to California Governor Gavin Newsom in support of passing SB 33, which preserves a cornerstone of SB 1235 by requiring APR disclosure for all commercial financing products. These protections were set to expire in 2024, but SB 33 will eliminate the sunset date and guarantee continued transparency for businesses.

Small Business Majority submitted testimony to the California Assembly Judiciary Committee in support of SB 33, which would protect SB 1235’s most critical protection: disclosure of the Annual Percentage Rate (APR).

On June 15, Small Business Majority and nearly 40 organizations in the small business ecosystem sent a letter to policymakers urging them to support the Small Business Lending Disclosure Act. This legislation would provide small businesses with transparent lending terms that protects them from hidden fees and undisclosed APR rates.

On March 29, Small Business Majority's California Policy Director Bianca Blomquist testified before the Senate Bank and Finance Committee on SB 33, legislation that could ensure small businesses continue to have the transparency they need when shopping for financing products.