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Updated: 56 min 44 sec ago

RE: Section 1071 data

Tue, 2020-10-27 11:14
From : Communities>>Open Forum
Thanks for sharing. We have had some members on the SBREFA panel and will be submitting our own comment letter. Happy to consider suggestions. ------------------------------ Brian Blake Director, Public Policy Community Development Bankers Association Washington DC 6462837929 ------------------------------

RE: Tip Tuesday

Tue, 2020-10-27 10:25
From : Communities>>Open Forum
In this week's Tip Tuesday , we provide you with the helpful tip that our reset password emails are often sent to your spam inbox! If you are having trouble locating this email, please feel free to reach out to Elizabeth Specht at especht@ofn.org for additional help! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

Section 1071 data

Mon, 2020-10-26 12:21
From : Communities>>Open Forum
Dear Colleagues: There was a question about Section 1071 small business loan data. Here is our initial take. NCRC Initial Analysis Of The CFPB SBREFA Panel Outline: A Step In The Right Direction But Improvements Sought Comments are due in mid-December. Contact me if you have any questions. Best, Josh Silver Senior Advisor NCRC Josh Silver Senior Advisor, Policy National Community Reinvestment Coalition 202.464.2733 202.628.9800 (fax) jsilver@ncrc.org Pronouns: He/Him/His 740 15th Street NW, Suite [More]

CFPB - Dodd-Frank Regs for Small Business Lending

Fri, 2020-10-23 09:26
From : Communities>>Open Forum
Are any CDFIs (or partners) tracking the Consumer Financial Protection Bureau's Dodd-Frank regulations on small business lending (section 1071)? We know the CFPB is doing work prior to releasing an Advance Notice of Proposed Rulemaking and we have heard that this may result in new additional reporting requirements for CDFIs that previously were not required. Any thoughts on this would be appreciated. Thanks, Jackson ------------------------------ Jackson Brossy ED Native CDFI Network, Inc. Washington [More]

RE: Small Business Needs--qualitative research

Fri, 2020-10-23 08:59
From : Communities>>Open Forum
Hello @Tameka Montgomery and the Key Insights were very interesting. Have you questioned small businesses about their efforts in preparing for the the future? I feel like a lot of the responses are focused more around reacting to what is happening today​ and while several of those actions will help them in the future, I wonder how many are thinking ahead. I work with small businesses as a fractional CFO and constantly push my clients to forecast different scenarios and think through their options [More]

RE: PPP and EIDL Advance Reduction of Forgiveness Amount

Thu, 2020-10-22 12:42
From : Communities>>Open Forum
Hi Everyone,  The SBA's guidance is admittedly confusing, even for someone who worked for them for almost six years and still has friends there. That said, I think people might be interpreting the June 20th document differently than SBA intended. Clearly, some people feel as the SBA didn't communicate the EIDL advance would be recouped and/or the PPP forgiveness amount would be reduced by the advance amount at the beginning of the programs if a borrower got both. But in every lender training in which [More]

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RE: PPP and EIDL Advance Reduction of Forgiveness Amount

CWN 2nd Virtual Event - "Extreme Self-Care: Understanding Needs, Values and Boundaries "

Wed, 2020-10-21 16:53
From : Communities>>Open Forum
Greetings   Please see details below about the upcoming CDFI Women's Network virtual event on October 30th. This event is open to women working in the Community Development Finance field. If you have colleagues who might be interested in attending, please feel free to forward this notice to them.  CWN 2ND VIRTUAL EVENT - "EXTREME SELF-CARE, UNDERSTANDING NEEDS, VALUES AND BOUNDARIES  When:    Oct 30, 2020 from 3:00 PM to 4:30 PM (ET) Associated with    CDFI Women's Network [More]

Salesforce for CDFIs Webinar + Live Demo

Wed, 2020-10-21 10:51
From : Communities>>Open Forum
Hi Everyone, Hope you are doing well.  Just wanted to call your attention to the following webinar: Salesforce for CDFIs Webinar + Live Demo Wednesday, November 4  2-3pm ET/11-12pm PT Register Now Michelle Corson, CEO + Founder of  On the Road Lending , will discuss how her team leverages  Salesforce to meet their complex lending needs  and enable growth for the organization. The webinar will include a demo of On the Road Lending's Salesforce instance, built and maintained by Craftsman Technology [More]

RE: Business vs. Individual Credit Reporting

Wed, 2020-10-21 10:43
From : Communities>>Open Forum
Hello everyone - in order to facilitate this conversation a bit more in depth, I'd like to invite everyone to a Business Lender Roundtable that we're putting together on Friday, November 13th.  Gather together with CBA Members to take a deeper dive and share best practices in regard to credit reporting for small business loans. During this 90-minute session, CBA will facilitate discussion around how to establish equitable and effective policies and procedures for reporting your borrowers' small business [More]

RE: Small Business Needs--qualitative research

Wed, 2020-10-21 09:57
From : Communities>>Open Forum
Hello, Here is the report from our mini insight study about the experiences of small businesses during the pandemic. I'm happy to answer any questions you might have. Tmeka

Files Attached Document
Small Business Needs--qualitative research Attachments

Director of Lending - Communities Unlimited

Wed, 2020-10-21 09:01
From : Communities>>Open Forum
After 16 years, I am retiring as Communities Unlimited's Director of Lending and wanted to let the OFN community know about this exciting opportunity. Communities Unlimited, a CDFI serving rural communities in 7 southern states, is seeking an entrepreneurial, mission-focused Director of Lending to expand our work with entrepreneurs in rural communities, particularly communities of color. I have thoroughly enjoyed helping provide rural entrepreneurs with much-needed access to capital and working [More]

RE: Data on Investments in BIPOC, Women-Owned and Immigrant Small Business

Tue, 2020-10-20 17:12
From : Communities>>Open Forum
Hi Laura: We've been doing a lot of work around the issue of lending to BIPOC entrepreneurs, and if you want you can check out our website for more information (https://www.aspeninstitute.org/programs/business-ownership-initiative/).  But to summarize briefly, here's what I'd suggest: - Don't spend too much time looking for local or national level data on levels of lending to specific target groups.  The data generally don't exist (which is why we need the CFPB to implement section 1071 of Dodd-Frank).  [More]

RE: Tip Tuesday

Tue, 2020-10-20 16:07
From : Communities>>Open Forum
In this week's Tip Tuesday, we show you how to remove a comment you deem inappropriate! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

Files Attached Document
RE: Tip Tuesday

RE: Funding ADU?

Tue, 2020-10-20 14:48
From : Communities>>Open Forum
Thank you Nathaniel! I will reach out to Heidi and share information about our ADU Construction Loan Program at Housing Trust. ------------------------------ Sonya Singha MLO, ADU & Construction Higher Logics Community Contacts (CDFI CONNECT - DO NOT DELETE) San Jose CA 408-703-3837 ------------------------------

RE: CDFI Operations Manual

Tue, 2020-10-20 13:41
From : Communities>>Open Forum
Gina, We are looking to enhance our operations manual in three sections: Programs, Finance, and Lending. We currently have a finance and lending manual, but we need to incorporate a step-by-step process for new/existing employees. Overall, we are trying to expand our current processes and procedures manuals for our affiliates, investors, and staff. Your Organizational Security Program manual would be beneficial as a guide. Maybe we might have overlooked vital topics that should be in our manuals. [More]

RE: CDFI Operations Manual

Tue, 2020-10-20 12:44
From : Communities>>Open Forum
Hi Tommy.  CAMEO will be offering CDFI Essentials course in 2021.  It is a year-long course that meets once per month to offer training and examples on the elements of a loan manual. We conduct it virtually, so any emerging CDFI in the U.S. can participate.  It's a great way to build a 'living' manual tailored to your organization. Please contact me if you any questions.   sbrown@CAMEOnetwork.org ------------------------------ Susan Brown CAMEO Microlending Specialist Business and Community Development [More]

Oregon based CDFI looking for the next ED

Tue, 2020-10-20 12:13
From : Communities>>Open Forum
MESO is a minority led and minority serving CDFI, located in beautiful Oregon. Please see job announcement. https://www.acumenexecutivesearch.com/wp-content/plugins/bullhorn-career-portal/oscp/index.html#/jobs/365 -- Nita Shah Executive Director nshah@mesopdx.org 503-841-3351 https://www.mesopdx.org/donate/ I am currently working remotely. My cell is 503-544-7949 Please do not read, copy, or disseminate this communication unless you are the intended addressee. This e-mail may contain confidential [More]

RE: PPP and EIDL Advance Reduction of Forgiveness Amount

Tue, 2020-10-20 12:05
From : Communities>>Open Forum
Hi Tracy, I wasn't aware that there was a fix for this in the draft legislation, that is really good news!  We are holding off on submitting any apps that have the EIDL as well.  No harm in waiting a little bit at least! ------------------------------ Melissa Johnson Director of Loan Operations Clearinghouse Community Development Financial Institution Lake Forest CA 9495254960 ------------------------------

RE: PPP and EIDL Advance Reduction of Forgiveness Amount

Tue, 2020-10-20 12:03
From : Communities>>Open Forum
Hi Amber, Wow, that is really unfortunate for that borrower!  I think what happens is that the borrower just has to repay the full PPP balance to you guys based on the FAQ.   We have a call scheduled with our Congressional Rep this Friday and I will update you guys with how it goes. Thank you! ------------------------------ Melissa Johnson Director of Loan Operations Clearinghouse Community Development Financial Institution Lake Forest CA 9495254960 ------------------------------

RE: CDFI Operations Manual

Tue, 2020-10-20 09:33
From : Communities>>Open Forum
What content are you looking to add to your operations manual? I've developed an Organizational Security Program that details all of processes and procedures for how we safely handle all information that comes to us from clients, funders, and employees in a way that ensures security without sacrificing efficiency in our lending, HR, and finance activity. It also includes guidance on acceptable use of company technology for our employees.  Would that be useful to you? ------------------------------ [More]

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