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Joint Committee on Community Development and Small Businesses Hearing 

On Tuesday May 27th, Yari DeJesus, Director of Economic Development at MACDC, and Kim Lyle, CEO of Dorchester Bay Economic Development Corporation and Chair of MACDC’s Board of Directors, participated in an Informational Hearing held by the Joint Committee on Community Development and Small Businesses. They shared pressing challenges facing small business owners in the Commonwealth, including those served by Dorchester Bay, particularly around social, economic, and environmental barriers to growth. They emphasized the importance of increased support for Community Development Financial Institutions (CDFIs), especially in light of potential reductions to the federal CDFI Fund, and called for sustained investments in the small business technical assistance program that help entrepreneurs navigate administrative and financial hurdles. They also highlighted the critical role of microlending in expanding access to capital for underserved entrepreneurs, particularly for small-dollar loans used for working capital, inventory, equipment, or startup costs. The testimony offered both a sobering look at current challenges and practical recommendations to strengthen the Commonwealth’s small business ecosystem.