Today, Small Business Majority submitted comments to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation regarding proposed rules changes to the Community Reinvestment Act. Some of Small Business Majority's concerns include that these proposed changes would negatively impact underserved entrepreneurs in low and moderate income (LMI) communities and disincentive banks from making qualified smaller-dollar loans that are the lifeblood of small businesses.
Small business owner Natalie Dubose recounts the night of Nov. 24, 2014, like a scene out of the movie “Independence Day.”
“Every shop in downtown Ferguson leading up to mine and past mine was destroyed. I found furniture from the law firm across the street, that the protestors had used to break the windows,” she said.
As a twenty-something woman in business with her parents, Molly Leadbetter often finds herself trying to convince customers that she is an equal partner in the family-owned Meriwether Cider Company in Boise, Idaho.
Small businesses are one of the most respected constituencies in the country, and certainly one of the most courted by policymakers in Washington. However, small businesses are also a group that legislators and the general public understand little about—the very smallest ones, especially. Those businesses are known as “micro businesses.”