Access to capital

Small Business Majority submits letter of support on transparency before markup

In a letter submitted to Chairwoman of the House Committee on Financial Services, Maxine Waters, and Ranking Member Patrick McHenry, Founder and CEO John Arensmeyer urged members to markup H.R. 6054, the Small Business Lending Disclosure Act of 2021 in its current form and pass it out of committee immediately. The bill would protect entrepreneurs from predatory lenders that offer unfair terms and conditions. Additionally, the measure would extend safeguards already required in consumer lending, through the Truth in Lending Act, to small business borrowers. 

English
Submitted by Awesta Sarkash on Thu, 03/10/2022 - 10:35

Small Business Majority testifies in favor of Maryland transparency bill

Today, Awesta Sarkash, Government Affairs Director, testified in front of the Maryland Senate Finance Committee in favor of Senate Bill 825, the Consumer Credit- Commercial Financing Transactions. SB 825 would enact critical protections for small business borrowers that are falling prey to predatory lending practices. The bill is applicable to financing products below $2.5 million because smaller, Main Street businesses are the ones being misled by the lack of transparency today.

English
Submitted by Awesta Sarkash on Thu, 03/10/2022 - 06:31

Small Business Majority offers updated recommendations for administering stimulus aid

Last year, the American Rescue Plan provided billions of dollars to state governments to support their communities. After a year, these governments still have an opportunity to support their local small business ecosystem. We offer updated recommendations for strategic investments that can have a transformative impact on the long-term sustainability of a small business ecosystem. 

English
Submitted by Quintin Reed on Wed, 03/09/2022 - 10:06

Partner Spotlight: Greenwood Archer Capital

Posted: February 18, 2022

Erica King is the President of Greenwood Archer Capital, a nonprofit Community Development Financial Institution (CDFI) organization founded in 2012 to supply micro and small business loans catalyzing small business development throughout the metropolitan Chicago area and its adjacent suburbs, as well as greater Cook County Illinois.

English

Small Business Majority 2021 Year in Review

Posted: December 17, 2021

This year, we continued to educate small business owners and entrepreneurs about important resources, funding options, policy updates and more that could help their businesses recover from the ongoing pandemic and become more resilient. Over the course of the year, we hosted and participated in more than 430 events, partnering with more than 300 organizations and stakeholders. These events garnered more than 20,000 event registrants  and indirectly reached 150,000 individuals.

English

Denver coffee manufacturers pay homage to their roots

Posted: December 8, 2021

Jose Cristian and Keila Castorena founded SelvaSur Coffee in 2016, a family-owned coffee manufacturing company, with the vision of bringing the highest quality coffee beans and Latin American products that are ethically and lovingly harvested from Peru and Organic Chiapas coffee beans from Mexico, to the Denver area.

English

Protect small business borrowers by ensuring transparent and fair lending practices

The pandemic has underscored the importance of accessible and affordable capital for small businesses like mine. It’s a critical component to maintaining my business’s operations and growth. That’s precisely why all small businesses should be protected as we search for capital. 

English
Submitted by sbm-admin on Tue, 11/16/2021 - 12:14

Veteran food truck owner turns to quick financing to stay afloat during the pandemic

Posted: November 12, 2021

When federal funding programs don’t work for the small businesses they were designed to support, owners may be forced to seek out much riskier avenues to capital in order to keep their doors open. Unfortunately Chef Frisco Thumbtzen in South Carolina is one such example. 

After his military service left him with disabled veteran status, Chef Frisco turned to entrepreneurship. In the military, he worked as a limousine driver and when he was discharged, he was given his own vehicle so he could start up his own transportation business. 

English

California business owner struggles to stay afloat after being targeted by predatory lenders

Posted: October 21, 2021

More than a year and a half into the pandemic, many small businesses are unsure if they will be able to recover after fighting to stay above water and accruing crippling debt. Small business owners of color, women and immigrants have been disproportionately impacted by the pandemic as they’ve faced barriers to accessing federal relief programs and traditional lending. Small business owner Daysi Del Rosario Rivas Peralta is one example.

English

Pages