Micro-Lending In

California

Since the onset of the Great Recession in California, banks have essentially stopped lending to small and micro businesses.  Nonprofit, Community Development Financial Institutions (CDFIs) have stepped up to meet the credit needs of the micro sector, providing not only loans but also the critical business technical assistance to enable new businesses, as well as existing Main Street businesses, to grow in a sustainable way.

This session will describe the role of CDFIs in meeting the credit needs of their communities, how businesses can access this capital, and where these programs can be found in CA.

Claudia Viek is the CEO of CAMEO, the California Assoc. for Micro Enterprise Opportunity, a network of organizations that provided business assistance and loans to 21,000 very small businesses last year.  CAMEO’s mission is to promote economic opportunity and community well-being through Micro Enterprise development.