Press Releases

Overturning CFPB Rule Weakens Fair Lending Law for Underrepresented Small Businesses

Press Release Date:
Thursday, October 19, 2023

Statement by John Arensmeyer, Founder & CEO of Small Business Majority, urging President Biden to veto Senate bill that overturns Consumer Financial Protection Bureau’s ability to increase transparency in small business lending

“The U.S. Senate’s action on legislation overturning the Consumer Financial Protection Bureau’s (CFPB) Section 1071 rule requiring lenders to report demographic data on small business loan recipients is a regrettable setback for entrepreneurs.  

The CFPB’s rule implementing Section 1071 of the Dodd-Frank Act would facilitate better tracking of lending in communities of color and identify business development opportunities for entrepreneurs who have traditionally experienced inequities in our banking system. 

Topic(s):
Access to Capital, Minority entrepreneurship

Small Businesses Call on Governor Newsom to Sign Legislation Key to Accessing Responsible Capital and Improving Healthcare Costs

Press Release Date:
Friday, October 6, 2023

Statement by Bianca Blomquist, California Policy Director & Northern California Outreach Director for Small Business Majority, on the importance of Gov. Newsom signing into law legislation that will protect and encourage small business growth

"With the conclusion of the 2023 legislative session, Governor Gavin Newsom has a tremendous opportunity to promote critical measures that will allow California's small businesses to grow and thrive. Targeted legislation currently on the governor's desk will remove barriers to responsible capital and improve access to quality healthcare for California's job creators. The following bills are instrumental in efforts to support continued entrepreneurship and, when signed, will build on the progress California has made to invest in our state's small business owners.

Topic(s):
Entrepreneurship, Government Accountability, Healthcare, Immigration

House Republican-led Government Shutdown will Undo Economic Progress for Small Businesses

Press Release Date:
Friday, September 29, 2023

Statement by John Arensmeyer, Founder & CEO of Small Business Majority, on the pending government shutdown and its significant impact on the small business ecosystem

"The looming federal government shutdown–the result of House Republican dysfunction–is unnecessary and grossly irresponsible. It will severely damage the economic progress that small businesses have made since the pandemic by disrupting essential government activity supporting small businesses and creating consumer uncertainty, negatively impacting small businesses' bottom lines. Whether it's a short- or long-term shutdown, small businesses will pay the price if Congress can't reach a bipartisan agreement on how to fund the government. 

Topic(s):
Access to Capital, Government Accountability

Celebrating National Hispanic Heritage Month with Partnerships, Events and Grant Opportunities

Press Release Date:
Wednesday, September 13, 2023

Small Business Majority partners with business organizations to celebrate National Hispanic Heritage Month and launch a series of new resources to support the Latino small business community

Washington, DC - Small Business Majority is dedicated to championing the nearly 5 million Hispanic-owned businesses in the United States. In celebration of National Hispanic Heritage Month, Small Business Majority is launching new resources and a grant opportunity in partnership with organizations such as Support Latino Business, the U.S. Small Business Administration (SBA), and the U.S. Hispanic Chamber of Commerce (USHCC). 

Topic(s):
Entrepreneurship, Minority entrepreneurship

Celebrando el Mes Nacional de la Herencia Hispana con Asociaciones, Eventos y Oportunidades de Subvenciones

Press Release Date:
Wednesday, September 13, 2023

Small Business Majority se complace de asociarse con organizaciones comerciales para celebrar el Mes Nacional de la Herencia Hispana y lanza una nueva serie de recursos para apoyar a la comunidad empresarial latina

Washington, DC - Small Business Majority se dedica a impulsar cerca de 5 millones de empresas hispanas en los Estados Unidos. En celebración del Mes Nacional de la Herencia Hispana, Small Business Majority está inaugurando nuevas herramientas y una oportunidad de subvención, con organizaciones como Support Latino Business, la Agencia Federal de los Pequeños Negocios (SBA por sus siglas en inglés), y la Cámara de Comercio Hispana de los Estados Unidos (USHCC por sus siglas en inglés). 

Topic(s):
Entrepreneurship, Minority entrepreneurship

Blocking of Small Business Loan Rule is a Setback for Small Business Borrowers

Press Release Date:
Tuesday, August 1, 2023

Statement by John Arensmeyer, Founder & CEO of Small Business Majority, on a federal judge in Texas partially blocking the CFPB’s final rule that will create more transparency in small business lending

“Small Business Majority is disappointed in a ruling issued yesterday by Texas U.S. District Court Judge Randy Crane that will block efforts to bring greater transparency to small business lending. 

Topic(s):
Access to Capital, Entrepreneurship, Minority entrepreneurship

Governor Newsom’s Budget Package Maintains Support for Key Small Business Programs Despite Budget Shortfall

Press Release Date:
Monday, July 17, 2023

Statement by Bianca Blomquist, California Policy Director & Northern California Outreach Director for Small Business Majority, on the finalization of the 2023-24 budget agreement

“We are glad Governor Gavin Newsom has advanced a streamlined 2023-24 state budget and additional bills to improve access to affordable healthcare, create workforce equity and support small business assistance programs. 

Topic(s):
Entrepreneurship, General Small Business

California Small Businesses Support Expanding State Paid Sick Days and Family Leave Policies

Press Release Date:
Wednesday, July 12, 2023

New poll finds the majority of California small business owners support increasing state benefits as a way of better retaining highly skilled and experienced employees

Sacramento, Calif. - While California legislators consider updating the state’s paid family leave and sick days policies, today, Small Business Majority released a new poll showing small business support for expanding family leave protections and other employee benefits.

Topic(s):
Entrepreneurship, Healthcare, Job Creation, Paid Family & Medical Leave Insurance, Paid Sick Leave

Las pequeñas empresas de California apoyan la expansión de políticas estatales de licencia por enfermedad pagada y licencia familiar

Press Release Date:
Wednesday, July 12, 2023

Nueva encuesta encuentra que la mayoría de los propietarios de pequeñas empresas de California apoyan un incremento en la tasa de beneficios estatales como una forma eficaz para retener empleados altamente calificados

Sacramento, Calif. - Mientras que legisladores en California están considerando actualizar las políticas estatales de licencia por enfermedad pagada y de licencia familiar, hoy, Small Business Majority publicó una nueva encuesta que muestra que las pequeñas empresas apoyan la expansión de protecciones en la licencia familiar y otros beneficios para empleados.

Topic(s):
Healthcare, Paid Family & Medical Leave Insurance, Paid Sick Leave

New Paid Family & Medical Leave Program will Boost Maine Small Businesses

Press Release Date:
Tuesday, July 11, 2023

Statement by Lindsey Vigoda, National Quality Jobs Policy Director at Small Business Majority, on how the enactment of a state-run paid family & medical leave program will help small employers compete with big businesses for talent

"We’re thrilled that Governor Janet Mills approved a measure in the budget to enact a state-administered paid family and medical leave program. This program will be a win-win for small businesses and their employees by facilitating access to a benefit that small businesses have historically struggled to offer. 

Topic(s):
Healthcare, Paid Family & Medical Leave Insurance, Paid Sick Leave

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