How the SBA Funds Underserved Entrepreneurs, Meet the Millennial Millionaire Who Founded Fintech Bolt, and More for Small Business Owners
How the SBA Funds Underserved Entrepreneurs, Meet the Millennial Millionaire Who Founded Fintech Bolt, and More for Small Business Owners

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LLast month, Isabella Casillas Guzman, head of the Small Business Administration, joined Vice President Kamala Harris in announcing reforms to Community Advantage: a pilot loan program through which the agency aims to provide low-income borrowers and people from underserved communities equitable access to Capitale. Some of the changes include extending the duration of the program by two years until September 2024 and increasing the maximum loan amount from $250,000 to $350,000.

“We are thrilled about this as it builds on the momentum of our work with community development financial institutions and other mission-driven lenders that have already helped us provide billions of dollars in aid to underserved small business owners,” Guzman said. Forbes Contributor Rhett Buttle. “With the changes announced, we will be able to expand the program, create a wider distribution network and better ensure that opportunities are more accessible to more entrepreneurs pursuing the American dream of starting and growing a business. prosperous.”

Going forward, Guzman says his goal is “to address the capital issues that exist in the marketplace, especially as they relate to our smaller entities, women, people of color, veterans, and rural communities. which often lack strong distribution networks”. For more on their conversation, read on.


Spotlight on History

Millennial billionaire Ryan Breslow created Buzz, And Enemies, Attacking Stripe and Shopify. It is just beginning.

Bolt’s Ryan Breslow aims to make one-click payment a staple for small businesses and local chains. He boosted the value of his fintech to the moon by promising an Amazon-style checkout to millions of online retailers. Now, the newly minted billionaire is making a lot of noise and powerful criticism, defying the culture of the tech industry. With an $11 billion valuation in the face of widespread skepticism, Breslow is determined to prove that Bolt is more than just a flash in the pan, and he’s more than just a lightning rod.

Key quote: “I’m not afraid to upset a few powerful people. If I’m not talking about the darkness I see in Silicon Valley, who is it?” —Ryan Breslow, Founder, Bolt


Forbes Must-Reads

Calendly was built out of frustration. Nine years ago, founder and CEO Tope Awotona launched the company and invested his savings of $200,000 in it, before quitting his job as a software salesman for EMC. Today, the company has 10 million users and counts Lyft, Ancestry.com, Indiana University and La-Z-Boy among its customers. The scheduling app is worth $3 billion and hotly debated on Twitter among Silicon Valley’s elite.

The United States has 114% more female entrepreneurs today than 20 years ago. Today, a nonprofit organization called Behind The Leaf helps women from underrepresented groups use small business ownership as a means to economic advancement. Here’s how its two founders are helping women business owners get financing.

As AARP’s Senior Advisor, Heather Tinsley-Fix ​​leads efforts to equip employers with resources and guidance to support multi-generational workforces. She discusses the organization’s new initiative to help employers adapt their skills to meet the needs of the new job market, as well as how AARP supports older small business owners.

We are all guilty of neglecting the importance of cybersecurity. Threats are constantly changing and intensifying, and hackers are looking for a way to steal your information and that of your customers. Here are six reasons why cybersecurity should be a top priority for entrepreneurs.

It is important for entrepreneurs to delegate. Otherwise, it is impossible to develop and protect a business. Here’s how to improve your delegation skills.

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