Small Business

Advancing Innovation and Fairness in Small Business Finance

Event information
Date
Mon Mar 24, 2025
3:00pm - 5:00pm EDT
Hosts
Business Ownership Initiative Responsible Business Lending Coalition
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About This Event

Ten years ago, when the Responsible Business Lending Coalition was founded, the nation was experiencing dramatic changes in the small business financing landscape, stemming in part from market adjustments after the Great Recession. Ten years later, the forces driving change are accelerating. The growth in new technologies, including AI; the aftermath of the COVID pandemic; and unprecedented growth in new small businesses starting are only some of the factors shaping the market.

Yet the challenge remains: how do we harness the power of technology and innovation to drive greater prosperity and inclusion for small business owners, while ensuring that financial products support small businesses rather than undermine them?

Join us on March 24 to hear and share perspectives from lenders, investors, policymakers, small business owners, and advocates about how to build a financing market that truly works for small businesses. This event will feature three moderated conversations highlighting key trends, opportunities and challenges in the small business financing market, followed by a reception that will provide the opportunity for attendees to explore this issue in greater detail with fellow stakeholders.

Agenda

3:00PM —— Welcome
  • Joyce Klein
  • Louis Caditz-Peck

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3:10PM —— A Conversation with Michael Barr
  • Michael Barr 
  • Joyce Klein

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3:45PM —— Panel:  Driving Innovation in Small Business Lending
  • Phil Goldfeder
  • Jacob Haar
  • Mickey Konson
  • Luz Urrutia

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4:25PM —— Panel: Ensuring that Innovation Benefits Small Businesses: The Role of Guardrails
  • Cailey Locklair
  • Hal Martin
  • Carolina Martinez
  • Awesta Sarkesh
  • Louis Caditz-Peck (Moderator)

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4:55PM —— Closing Remarks
  • Joyce Klein

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5:00PM —— Reception and Informal Discussions
  • Louis Caditz-Peck

Speakers

Michael Barr

– Federal Reserve Board of Governors

 

Michael S. Barr took office as a member of the Board of Governors of the Federal Reserve System on July 19, 2022, for an unexpired term ending January 31, 2032. Mr. Barr served as the Vice Chair for Supervision of the Board of Governors of the Federal Reserve System from July 19, 2022, to February 28, 2025. Prior to his appointment to the Board, Mr. Barr was the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy, the Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, and the founder and faculty director of the University of Michigan’s Center on Finance, Law & Policy. At the University of Michigan Law School, Mr. Barr taught financial regulation and international finance and co-founded the International Transactions Clinic and the Detroit Neighborhood Entrepreneurs Project.

Mr. Barr served as the U.S. Department of the Treasury’s assistant secretary for financial institutions, 2009-2010. Under President William J. Clinton, he served as the Treasury Secretary’s special assistant, as deputy assistant secretary of the Treasury, as special adviser to the President, and as a special adviser and counselor on the policy planning staff at the U.S. Department of State. Additionally, Mr. Barr served as a law clerk to U.S. Supreme Court Justice David H. Souter during October Term 1993, and previously to the Honorable Pierre N. Leval, then of the Southern District of New York. Mr. Barr received a BA in history from Yale University, an MPhil in international relations from Oxford University, and a JD from Yale Law School.

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Phil Goldfeder

– Chief Executive Officer, American Fintech Council

With nearly two decades of experience at the intersection of the public and private sectors, Phil Goldfeder currently serves as Chief Executive Officer of the American Fintech Council (AFC), a leading industry association representing responsible financial technology (fintech) companies creating critical access to safe and affordable financial services. AFC, comprised of the nation’s largest fintech companies, fosters innovative, transparent, and responsible products that promote competition, consumer protection, and financial health, inclusion, and equity. AFC is committed to robust industry standards, with a focus on consumer protection and regulatory compliance, in addition to advocating for and embracing appropriate government regulation.

Before joining AFC, Goldfeder served as Senior Vice President of Global Public Affairs at Cross River, a financial institution and technology infrastructure provider that offers embedded financial solutions. In this role, Goldfeder founded the Online Lending Policy Institute (OLPI) and has been a leader in shaping the new financial services landscape since early 2015. At the onset of the COVID-19 pandemic and the passage of the CARES Act in March 2020, Goldfeder helped lead the Cross River team to mobilize internally and offer a streamlined and automated system to provide more than $12 billion in PPP funding to the most vulnerable small businesses in every state, as well as additional short-term relief efforts to communities in the company’s footprint and beyond.

He previously served as an elected member of the New York State Assembly representing diverse neighborhoods of Queens, N.Y. After most of his district was devastated during Superstorm Sandy, Goldfeder lead recovery efforts with a specific focus on partnering with the banking and insurance industry to help rebuild his community and reform outdated policies. He was the author of transformative banking and insurance modernization legislation and was also a key legislative leader on a diverse array of issues. Prior to his election, he served as a senior advisor to Senate Majority Leader Chuck Schumer (D-NY) and New York City Mayor Michael Bloomberg. Phil’s career in public service and expertise in leadership, crisis management, as well as his ability to enact positive change and develop deep relationships with diverse leaders on both the local and national levels, has put him at the forefront of innovation across banking and technology industries. He is an active industry leader as he engages policy makers and regulators, provides thought-leadership, and is frequently invited to speak on panels, roundtables, and conferences globally on banking, technology, financial literacy, and the new financial services landscape.

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Mickey Konson

– Chief Executive Officer, Quantum Financial

Mickey has 25 years of global experience in the Fintech space, primarily focusing on SMB financial products. He began his career at McKinsey before spending 12 years at Capital One, where he helped develop their SMB offerings and expanded them to full-spectrum services following the bank acquisitions. Mickey co-founded StreetShares, a small business lending and card platform used by 500 banks and credit unions, acquired by Meridian Link. Currently, he is the CEO of Quantum Lending Solutions, an embedded lending company and CDFI that provides SMB solutions through banks and partnerships. Additionally, he has served on several boards, including Accion Opportunity Fund, one of the largest CDFIs in the country. Mickey is passionate about using technology to deliver financial solutions fairly and responsibly.

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Cailey Locklair

– President, Maryland Retailers Alliance

Cailey Locklair is the President of the Maryland Retailers Alliance, Maryland Chain Drug Store Association and Maryland Food Industry Council, and has worked and advocated in Maryland State and local politics for almost twenty years. She attended the University of Delaware where she received her Bachelor of Arts in political science and Towson University where she received her Master of Science degree in integrated homeland security management with a focus on security policy. She also holds a Certificate of Security Assessment and Management from Towson University and attended the United States Chamber of Commerce’s Institute for Organizational Management at Villanova. Previously, she worked at the Baltimore Jewish Council as their Deputy Executive Director and was the Assistant House Administrator for the Maryland House of Delegates. In 2014, she was chosen by The Seventh State as an “Annapolis Top Five Young Gun,” 2019 by the Daily Record as a “Successful by 40 VIP,” 2024 by the Daily Record on their Lobbying and Government Affairs Power List and received the national J. Thomas Weyant award by the National Retail Federation.

Cailey is a member of the State’s Unemployment Insurance Legislative Oversight Committee, is a past Chair of the national Council of State Retailer Associations, Leadership Maryland Class of 2024, sits on the board of Goodwill of the Chesapeake and is on the Executive Directors Council to the Maryland Tourism Development Board. In her free time, she enjoys volunteering with animal organizations, boating, playing softball and is a proud “sponsor” of Naval Academy midshipmen. She resides in Annapolis, MD.

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Hal Martin 

– Policy Economist and Director, Small Business Credit Survey Federal Reserve Bank of Cleveland

Hal Martin is the director of the Small Business Credit Survey and a policy economist in the Research Department at the Federal Reserve Bank of Cleveland. His current work focuses on small business finance and housing. Dr. Martin joined the Cleveland Fed in 2015. He holds a MA and PhD in economics from Georgia State University and a BA in economics from Principia College.

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Carolina Martinez

– Chief Executive Officer, CAMEO Network

Carolina Martinez has considerable experience leading non-profit organizations and multicultural teams in North and South America. She has coached entrepreneurs in the development and execution of their business plans. In Colombia, she worked with vulnerable communities to identify business opportunities and develop strategic and marketing plans. In 2011, she joined Community Action Development Corporation of Bethlehem (CADCB) in Pennsylvania, where she taught 18-week classes for pre-ventures
and startups. In 2012, she became the director of the Kutztown University Small Business Development Center’s Latino Business Resource Center (LBRC). She returned to CADCB in 2015 as the Director to support the economic development of South Bethlehem and coordinate its 6-year revitalization plan.

In 2016 Carolina opened her own business, The Puentes Group, a consulting firm focused on providing small businesses with marketing and business strategies and accounting services to manage their growth. Carolina joined CAMEO Network as its CEO in 2018.

Carolina serves on the Entrepreneurship & Economic Mobility Task Force in the California Office of the Small Business Advocate (CalOSBA) in the Governor’s Office of Business and Economic Development. She is also on the Board of Directors of Pacific Community Ventures, Mission Economic Development Agency, and the Association for Enterprise Opportunity. She previously served on the Pennsylvania Governor’s Advisory Commission on Latino Affairs, the Berks County Latino Chamber of Commerce board, and the Kutztown University Foundation board.

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Awesta Sarkash

– Public Policy Director, Small Business Majority

 

Awesta Sarkash directs Small Business Majority’s policy and education work in Minnesota, New Mexico, North Carolina, Pennsylvania, Texas and Virgina. In coordination with our state and federal policy teams, Awesta also leads the organization’s policy work on access to capital, criminal justice reform and auto-IRA retirement savings programs by tracking legislative and regulatory developments and serving as a subject-matter expert on these issues. Additionally, Awesta serves as the Vice Chair of the Responsible Business Lending Coalition. Prior to joining Small Business Majority, Awesta served as the Director of Advocacy and Communications at the Coalition for Nonprofit Housing and Economic Development (CNHED), a nonprofit membership association that supports the community development sector in DC. She was responsible for facilitating the development and execution of CNHED’s budget and policy advocacy strategies across a broad range of community development issues, including workforce development, small business entrepreneurship and neighborhood-based commercial corridors. Prior to joining CNHED, Awesta served as the grassroots and advocacy manager for the American Land Title Association. She also served as assistant director for the Center for Congressional and Presidential Studies’ Public Affairs and Advocacy Institute at American University and in Brussels for the European Public Affairs and Advocacy Institute.

Originally from Afghanistan, Awesta grew up in Albuquerque, New Mexico and received her Master’s in Political Science from American University in Washington, D.C. with a focus on American politics and advocacy. In 2022, Awesta was awarded the Top 20 in 2022 Advocacy Professional Award by the Advocacy Association.

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Luz Urrutia

– Chief Executive Officer, Accion Opportunity Fund

Luz Urrutia is the CEO of Accion Opportunity Fund, the nation’s leading non-profit that provides small businesses with access to capital, educational resources, personalized coaching, and thriving networks. Luz joined Opportunity Fund as CEO in 2017 with the goal of continuing to build a more responsible and affordable financial system. In her role, she is leading efforts to scale the non-profit Community Development Financial Institution (CDFI), deepening its impact and expanding its reach nationwide. As the nation’s top non-profit small business lender—with a lifetime $1 billion deployed in small business loans —Luz is focused on attracting capital and philanthropic funds to expand nationally, aiming to quadruple the organization’s impact by 2025.

Under Luz’s leadership, in March 2020, Opportunity Fund and Accion, The US Network, joined forces to establish Accion Opportunity Fund, the first organization focused on a national microlending strategy to meet the credit and business advising needs of small businesses – developing new products, establishing new partnerships, promoting research and financial education, and leveraging digital technologies and data analytics to support mission-driven lending.   

Luz spent her career in banking and financial services, particularly in underserved markets, and has won numerous awards for her leadership in the field. She began her career at Wachovia, where she spent 18 years, before founding El Banco de Nuestra Comunidad, a community bank based in Atlanta, Georgia serving the underbanked Latina/o consumers and small businesses. Luz served as President and Chief Operating Officer from 2001 – 2013. As VP of Retail Sales and Services at Oportun in California, from 2013-2016, Luz’s team expanded Oportun’s footprint across five states. In 2016, Luz joined Dollar Financial Group as CEO for the Americas to help transform the organization into a responsible consumer finance lender for underserved communities.  

Luz served on the Consumer Financial Protection Bureau’s Consumer Advisory Board, the Consumer Advisory Council of the Federal Reserve Bank, and on the Board of the Financial Health Network. Currently, she is a Board member for the Silicon Valley Community Foundation and a member of the Community Advisory Council for the San Francisco Federal Reserve. In 2021, she was named one of 50 over 50: Investments by Forbes. She received the Latino Leadership Award by the Silicon Valley Business Journal. Luz received a B.S., magna cum laude, in Business Administration and Finance and an M.B.A., both from Georgia State University. Luz resides in Mountain View, California.

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Louis Caditz-Peck

– Executive Director, Responsible Business Lending Coalition

Louis Caditz-Peck serves as the Executive Director of the Responsible Business Lending Coalition, a leading cross-sector voice on innovation and small business financial protection. The RBLC represents over one thousand for-profit lenders, nonprofit organizations, and small business groups. Across many differences, these groups have come together to improve small businesses’ access to capital and stop the rise of predatory small business lending.

Prior to leading the Responsible Business Lending Coalition, Louis was a practitioner and policy advocate in fintech, bank, CDFI, and nonprofit advocacy organizations. After serving as a small business lender at the CDFI Self-Help Credit Union, Louis joined the fintech company LendingClub to launch its expansion into small business lending. The financing program that Louis proposed has served more than 10,000 small businesses, while modeling responsible practices based on the Small Business Borrowers’ Bill of Rights. Louis grew that business line into an award-winning partnership with the CDFI Accion Opportunity Fund, combining the complementary strengths of fintechs and CDFIs.

Louis served as an appointed member of the Consumer Financial Protection Bureau’s (CFPB’s) Consumer Advisory Board from 2021-2023. He has helped to pass seven federal and state laws to improve industry practices and catalyze innovation in the small business financing market. He also co-founded the Marketplace Lending Association and American Fintech Council trade groups. Louis currently serves as a Senior Advisor to the Aspen Institute and to the National Community Reinvestment Coalition, and on the board of CAMEO Network. He holds a bachelor’s degree from Wesleyan University and attended the MBA program at UC Berkeley.

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Jacob Haar

– Co-founder and Managing Partner, Community Investment Management

 

Jacob Haar is the Co-Founder and Managing Partner of Community Investment Management (CIM), an institutional impact investment manager. CIM provides strategic debt capital to demonstrate and scale responsible innovation in lending for underserved communities in the U.S. and emerging markets. Jacob focuses on setting the strategic direction of CIM and leads the firm’s investment activities centering on partnerships with innovative lenders and fintech companies that demonstrate a commitment to responsible, transparent, and borrower-centric lending practices. He currently serves on the Executive Board of the Responsible Business Lending Coalition and on the Board of Directors for Impact Capital Managers.

Previously, Jacob was Co-Founder and Managing Director of Minlam Asset Management, an impact investment advisor which financed specialty lending to micro, small, and medium enterprise lenders in emerging markets. Prior to co-founding Minlam in 2005, Jacob worked in an operating role for a specialty finance lender in Azerbaijan. Jacob is a Fulbright Scholar, received a M.A. from the University of Chicago’s Center for Middle Eastern Studies and graduated Phi Beta Kappa with a B.A. from the University of Chicago.

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Joyce Klein

– Senior Director, Business Ownership Initiative, The Aspen Institute

Joyce Klein is the senior director of the Business Ownership Initiative, which works to expand the role of business ownership in generating economic opportunity. Ms. Klein assumed the leadership of BOI (formerly FIELD) in 2012, after working as a senior consultant since the program’s inception in 1998. She is recognized as a leading expert on microlending in the US, speaking at national and regional industry conferences and being quoted in a variety of news media, including The New York Times and NPR’s “Marketplace.” Joyce has more than 20 years of experience studying and supporting microenterprise and entrepreneurial development programs in the US, and she has authored or co-authored numerous publications, including funder brief and strategy guides, evaluation and research reports, case studies, and policy briefs. She has also designed and managed grant programs aimed at supporting innovation in the practice of microenterprise development in the US.

Under Ms. Klein’s leadership, BOI launched the Microfinance Impact Collaborative and helped to create the Entrepreneur Backed Assets Fund and the Responsible Business Lending Coalition. A central focus of BOI’s work includes examining the potential role of business ownership and the microenterprise field in addressing the challenges of racial inequity and the racial wealth gap. Ms. Klein also has worked as a consultant in the microenterprise field, providing assistance to clients including the Community Development Financial Institutions Fund of the US Department of the Treasury and CFED (formerly the Corporation for Enterprise Development). Prior to her work with BOI, Ms. Klein led CFED’s work in microenterprise development. She holds a master’s degree in public policy from the University of California, Berkeley, and a bachelor’s degree in economics from Boston College.

Sponsors

We thank our colleagues at Community Investment Management for their generous support of this event.