Access to capital

On May 6, Small Business Majority Founder and CEO John Arensmeyer submitted written testimony to the Senate Committee on Small Business and Entrepreneurship detailing the disproportionate barriers minority business enterprises (MBEs) face and the recent attacks on programs targeting minority entrepreneurs, including the U.S. Small Business Administration’s 8(a) business development program and the Minority Business Development Agency (MBDA).

On May 6, Small Business Majority network member Hyacinth Tucker, Founder and CEO of The Laundry Basket LLC, submitted written testimony to the Senate Committee on Small Business and Entrepreneurship outlining specific instances of discrimination her business has faced when seeking financing and federal procurement opportunities.

On May 6, Small Business Majority network member Brenda Doles, Co-Founder of HealthCare Resolution Services, Inc, submitted written testimony to the Senate Committee on Small Business and Entrepreneurship regarding the need to address ongoing racial discrimination and the role of targeted federal business programs supporting minority-owned businesses. Brenda’s testimony outlines the importance of targeted federal programs such as the U.S.

On April 15, Small Business Majority sent a letter to House and Senate Appropriations Committee leadership urging Congress to provide robust funding in Fiscal Year (FY) 2025 for critical federal programs that support small business development and growth.

On February 13, 2024, California Policy Director Bianca Blomquist testified before the Assembly Committee On Jobs, Economic Development and The Economy and Budget Subcommittee No. 5 to demonstrate the importance of equitable distribution of SSBCI dollars, and encourage the state’s continued investment in diverse technical assistance resources.
 

Today, Small Business Majority's Public Policy Director Awesta Sarkash testified before the Maryland House of Delegates Economic Matters Committee in support of HB 574, which would enact critical protections for small business borrowers in Maryland that are falling prey to predatory lending practices.

On February 8, Small Business Majority sent a letter to President Biden urging him to underscore the importance of continued investments in America's small business during his State of the Union Address.

On January 23, Small Business Majority Public Policy Director Awesta Sarkash sent a letter on behalf of the Responible Business Lending Coalition to Kansas Senate Committee on Financial Institutions and Insurance Chair Jeff Longbine in opposition to SB345 as introduced. The Commerical Financing Disclosure Law fails to include annual percent rate (APR) requirements which would provide small business owners with the transparency they need to make informed decisions about financing products.

On January 23, Small Business Majority Public Policy Director Awesta Sarkash sent a letter on behalf of the Responible Business Lending Coalition to Missouri Senate Committee on Insurance and Banking Chair Sandy Crawford in opposition of SB753 as introduced. The Commerical Financing Disclosure Law fails to include annual percent rate (APR) requirements which would provide small business owners with the transparency they need to make informed decisions about financing products.

On September 27, Small Business Majority joined the Responsible Business Lending Coalition in filing an amicus brief, alongside Public Counsel, U.C. Berkeley Center for Consumer Law & Economic Justice, California Association for Microenterprise Opportunity, and the Office of Kat Taylor, before the Central District of California in support of a California Department of Financial Protection and Innovation (DFPI) regulation requiring sales-based financing providers to disclosure their APRs and other costs to small business borrowers.