Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Community lenders and CDCs press for more state CDFI and microloan funding; warn of predatory receivable‑based loans
Summary
CDFIs, community development corporations and coalition groups told the committee they need more stable state funding for small business technical assistance and microloans and described predatory point‑of‑sale cash‑advance products and the chilling effect of recent ICE activity on foot traffic.
Representatives of Massachusetts community development corporations (CDCs), community development financial institutions (CDFIs) and coalition groups told the Joint Committee that state‑level investments are required to sustain small business technical assistance (SBTA), microloan programs and CDFI capital as federal funding becomes uncertain.
"We ask the committee to continue supporting the increase of state level funding for the small business technical assistance program... or consider creating a technical assistance stabilization fund to ensure continuity of services in times of federal volatility," Yadi de Jesus, director of economic…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
