AEO Platform Catches Clinton’s Attention
September 8, 2016
Closing the Gap: AEO’s 2016 Policy Platform is already paying dividends and impacting the 2016 Presidential election. Unveiled at the Democratic National Convention in July, Closing the Gap, drew on AEO’s 25 years of advocacy and the pioneering work of our members. The platform advocates for innovative changes to close the capital gap for America’s smallest businesses. Hillary Clinton’s campaign took notice and has integrated much of AEO’s principles into her small business platform. While speaking to a national audience, Hillary Clinton announced her proposalsto address close the capital gap for entrepreneurs.
Harnessing the Power of Technology
It is no secret that online lending and other financial technology (FinTech) products are revolutionizing the way capital is provided While these products are essential to closing the capital gap, it is imperative to ensure that borrowers fully comprehend the terms of their loans. Therefore, AEO focused its platform position on transparency in the lending process.
The Clinton campaign agrees. Reputable lenders are invaluable for microbusinesses and entrepreneurs, but it is important to safeguard borrowers from unfair or deceptive lending practices.
Federal Support for Community Development Financial Institutions
Financial inclusion is one of AEO’s bedrock principles. AEO is advocating for innovative solutions that will allow entrepreneurs in all communities to thrive. Community Development Financial Institutions (CDFIs) are critical to AEO’s mission of financial inclusion because they provide an alternative to traditional sources of capital. They are an irreplaceable resource for urban and rural underserved communities. To that end, Closing the Gap advocates for increased funding to the Department of Treasury for the CDFI Fund. Pledging to double support for CDFIs, Clinton’s plan will guarantee that these vital resources are available for the entrepreneurs that need them most.
Closing the Gapis proving to be a tremendous success for AEO’s advocacy efforts. We urge all Members to share the platform with all elected officials. AEO’s message deserves every candidate’s attention