System set up to ‘suck the life’ out of formerly incarcerated people takes a hit with new microloan deal
A recently announced agreement is expected to help returning citizens break a cycle of struggle that’s historically been reinforced by a criminal justice system advocates say is set up to make them fail, said Kyle J. Benson-Smith.
Kerry Doi, Statement on the Microloan Improvement Act and the microloan Transparency and Accountability Act
HR 1502, the Microloan Improvement Act of 2021, sponsored by Rep. Kim, was passed by the House last April 15.
Columbus Dispatch: ECDI named largest microlender in the U.S. by the Small Business Administration
Inna Kinney, founder and CEO of the Economic and Community Development Institute (ECDI), which was named the largest Small Business Administration microlender in the country. Columbus now has two of the top-performing Small Business Administration lenders in the country.
COVID Microlending Stories #Smallbusinessweek
It’s Small Business Week and microlending through the Small Business Administration has been a major lifeline to many American small businesses navigating COVID over the last year. Through May 2, 2021, the Microlending community has made 156k PPP loans for $2.76 billion (averaging $16k each). Join us as we highlight some of the Friends of SBA Microlenders who have been making a big difference this year to small businesses working to retain jobs, grow, and even thrive during the COVID-19 pandemic. MoFi Since 1987, MoFi has provided financing and consulting to entrepreneurs and small business owners across the Northern Rockies, as well as affordable housing solutions. Calf Pen Products Calf Pen Products, fulfills a longtime dream of Robyn Warner growing her home-based bakery and canning operation into a viable main street business. Now, through a $10,499 SBA Microloan the business received in January 2020, Calf Pen Products is not only…
ACE Helps Businesses Launch and Thrive in Georgia
Since 2000, Access to Capital for Entrepreneurs (ACE) has helped over 900 small businesses start and grow in Georgia, made more than $60 million in loans and helped create/retain nearly 8,000 jobs. ACE, a longtime member of the Friends, is focused on assisting small-business owners of color, women, low-income entrepreneurs and others who lack equitable access to small-business financing across the Georgia market. Recently, ACE was named as Mission Based Lender of the Year for the 3rd year in a row by the SBA Georgia District Office. ACE is consistently the number one SBA microlender in the state and look forward to continuing to provide loans and business development resources to help Georgia’s small business owners create and grow sustainable businesses which generate jobs. Throughout Georgia in 2018, ACE made 100 loans totaling $11.1 million that created 529 new jobs and helped retain 271. Some of these loans were made…
Friends Member CEF Receives Jody C. Raskind Award for 2019 Microlender of the Year
National Small Business Week kicked off yesterday with an awards event hosted by the U.S. Small Business Administration (SBA). The ceremony featured the Jody C. Raskind Award for the 2019 Microlender of Year. This year’s award went to the Colorado Enterprise Fund (CEF), a longtime member of the Friends of the SBA Microloan Program. CEF was one of the first 35 nonprofit intermediaries selected for the SBA Microloan Program in 1992. Since then, CEF has dispersed 1,457 Microloans totaling $18.5 million, which has helped create/retain 3,038 jobs. In fiscal year 2018, CEF dispersed 111 SBA Microloans totaling $1.8 million, and creating/retaining 445 jobs. Jody C. Raskind led the SBA’s Office of Microlending for many years and was well-known for her commitment and dedication to small businesses, particularly in underserved areas. Ms. Raskind died in 2014 and the award was established in her memory. The first award was presented in 2015…
WWBIC Receives Jody C. Raskind Award
Written by Ayrianne Parks and Sam Rapoza The Wisconsin Women’s Business Initiative Corporation, (WWBIC) is a long time member of the Friends of the SBA Microloan Program, based in Wisconsin. WWBIC helps individuals who face barriers that keep them from getting the funding needed to start or keep their business running. On Sunday, Wendy K. Baumann, WWBIC President and CVO, was honored as the recipient of the 2017 Jody C. Raskind Lender Award, which was presented in Washington, D.C. by SBA Administrator Linda McMahon. The Jody C. Raskind Lender Award is annual SBA Award presented to “a mission-focused lender that has distinguished itself in helping small businesses start, grow and expand.” Stephanie Smokovich is a prime example of how WWBIC has helped small businesswomen fulfill their entrepreneurial goals. Stephanie Smokovich is an entrepreneur based in Wauwatosa, Wisconsin, where she owns and operates Bella Blvd. Bella Blvd is a scrapbooking and memory…