CDFI Connect Community Discussions

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Updated: 11 min 54 sec ago

What would true CRA reform would look like in terms of holding banks accountable

Mon, 2020-09-14 17:02
From : Communities>>Open Forum
Dear Colleagues: We had to spend so much time playing defense against an awful OCC proposal and final rule, we thought we wanted to remind you what true CRA reform as applied to banks would look like. Please see our new blog: https://ncrc.org/principles-for-cra-reform-strengthen-exams-for-banks/ This is the fourth in a series of blogs that look at how to reform CRA and also apply it broadly throughout the financial industry. See the previous ones: https://www.ncrc.org/cra-for-the-securities-industry-a-tool-for-combating-wealth-inequality-and-for-increasing-accountability/ [More]

RE: Member Monday

Mon, 2020-09-14 15:19
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Working Solutions . Last week, the City of Oaland and Working Solutions announced $1.375 million in emergency relief grants disbursed to 275 low-income small business owners who are struggling due to the pandemic. Characteristics of grantees include: Earning 80% of Area Median Income or less 75% of the business owners are extremely low-income, making less than 30% of Area Median Income (AMI) 85% of the businesses are owned [More]

Use of vendors for PPP Forgiveness

Mon, 2020-09-14 10:54
From : Communities>>Open Forum
Dear OFN Members, For those who participated in PPP Lending, could you please advise if you are using an outside vendor to facilitate loan forgiveness and of so, who? We are looking for resources. Thank you Great regards, Hilda J. Kennedy AmPac Business Capital the dba of AmPac Tri-State CDC, Inc. 22365 Barton Rd, Suite 304 Grand Terrace, CA 92313 909-915-1706 310-901-4831 - direct Www.ampac.com Making access to business capital as easy as ABC Word for the year - GREAT Seeing clearly in 2020 Proverbs [More]

RE: Becoming a Certified CDFI

Fri, 2020-09-11 09:20
From : Communities>>Open Forum
Hi Anthony - we successfully help 12-18 nonprofit and for profit firms obtain certification annually. Feel free to reach out off line for an intial assessment. Thanks. Jason Friedman Chief Executive Officer , Friedman Associates, LLC 319-341-3556 | 319-321-5884 | jasonj@friedmanassociates.net www.friedmanassociates.net The information transmitted in this email is intended solely for the individual or entity to which it is addressed and may contain confidential and/or privileged material.Any review, [More]

NCRC Study: More chronic disease, shorter lifespans and greater risk factors for COVID-19 in neighborhoods that were redlined 80 years ago.

Thu, 2020-09-10 13:02
From : Communities>>Open Forum
Excellent report by my colleagues in the Research Department at NCRC. Powerful accompanying blogs include one about the racist history in Memphis harming communities of color...as we all know this is a national phenomenon played out in countless cities and rural areas across the country Just released View this email in your browser Study: More chronic disease, shorter lifespans and greater risk factors for COVID-19 in neighborhoods that were redlined 80 years ago. Before the pandemic devastated [More]

Becoming a Certified CDFI

Thu, 2020-09-10 11:58
From : Communities>>Open Forum
We have been looking at the same equation, our Agency (GSCV) is looking to grow a CDFI. Under consideration how best to capitalize while minimizing risk. We have partners and relationships at the single family level. How best should we approach a Multi-family developer? Should first secure buy into an existing development and learn. Or should we create a Venture Capital fund. Any guidance or thought is welcomed! All the best! ATM Anthony T Mitchell Founder - Managing Member Georgia Sustainable [More]

RE: Small Developer Construction Lending (Product)

Thu, 2020-09-10 11:37
From : Communities>>Open Forum
We have been looking at the same equation, our Agency (GSCV) is looking to grow a CDFI. Under consideration how best to capitalize while minimizing risk. We have partners and relationships at the single family level. How best should we approach a Multi-family developer? Should first secure buy into an existing development and learn. Or create a Venture Capital fund. Thoughts? Anthony T Mitchell Founder - Managing Member Georgia Sustainable Community Ventures Tel. 404-285-0286 atm@gscommunityventures.com [More]

Small Developer Construction Lending (Product)

Tue, 2020-09-08 21:36
From : Communities>>Open Forum
Historically HFHI has lent to its affiliates by leveraging the future cash flows of their mortgage receivables. As more and more of our affiliates are looking to leverage third party funding, their mortgage portfolios are declining; however, they continue to maintain assets in the form of the properties that they're building. Given the way certain products work in terms of reimbursement or payment we often get affiliates who'd like to pledge their properties as collateral. Many of these deals are [More]

RE: Tip Tuesday

Tue, 2020-09-08 16:29
From : Communities>>Open Forum
In this week's Tip Tuesday,  we provide you with the form and email if you wish to post or delete from the job board! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

RE: Lending to DACA Borrowers

Thu, 2020-09-03 16:05
From : Communities>>Open Forum
thanks for your response - this would be a little bit larger loan for real estate acquisition - Anna ------------------------------ Anna Tefft SVP and Director of Lending Natural Capital Investment Fund, Inc. Shepherdstown WV (304) 876-2815 ------------------------------

RE: Lending to DACA Borrowers

Thu, 2020-09-03 16:04
From : Communities>>Open Forum
Hi - thanks for your reply - we would be offering a larger loan for real estate acquisition - the good news is we would have collateral - the bad news is the term of our loan would likely go beyond the time the person is legally able to stay in the US unless Congress allows DACA folks to stay permanently in the US - we could look at having someone with permanent status guaranty the loan and then I wasn't sure what happens in a liquidation scenario - Anna ------------------------------ Anna Tefft [More]

Launching the YWCA CDFI Map!

Wed, 2020-09-02 15:41
From : Communities>>Open Forum
YWCA USA is excited to announce the launch of the YWCA CDFI Map in collaboration with OFN! To learn more about the map, check-out our blog . The map is an interactive tool that YWCAs, CDFIs, and economic development stakeholders can leverage to learn about where and what types of services YWCAs and CDFIs currently deploy. We envision partnerships resulting in the deployment of capital through CDFIs serving as financial vehicles and YWCAs serving on the ground as community partners.  The map showcases [More]

RE: Lending to DACA Borrowers

Wed, 2020-09-02 11:54
From : Communities>>Open Forum
We lend to borrowers with a variety of immigration statuses (as many CDFIs do). We do not presently consider their status in how the loan is structured. We have sometimes required a co-signer with permanent resident or citizen status. These are mostly small business loans of modest dollars. We do assume some additional risk within the portfolio associated with borrower immigration status. We have had some charge-offs associated with borrowers who had to leave the country. It has not been at a level [More]

Leadership Transition at CEI Capital Management

Wed, 2020-09-02 11:23
From : Communities>>Open Forum
All, Charles J. Spies, III will step down as CEO of CEI Capital Management LLC (CCML) on October 1, 2020 after 14 years of leading one of the nation's premier New Markets Tax Credit (NMTC) investment firms. He is succeeded by Traci R. Vaine, who has served as CCML's Chief Compliance Officer for the past eight years. CCML is a wholly owned subsidiary of Maine-based Community Development Financial Institution, Coastal Enterprises, Inc. (CEI). Click here for more details of Charlie's contributions [More]

RE: Lending to DACA Borrowers

Wed, 2020-09-02 10:08
From : Communities>>Open Forum
We've done plenty of loans to DACA recipients. What's the loan purpose? I don't see why you would need to structure it in any particular way. What's the concern you have that you are looking to address? Is it around when the DACA might expire? ------------------------------ Andrew Posner Founder and CEO The Capital Good Fund Providence RI 401.339.5437 ------------------------------

Lending to DACA Borrowers

Tue, 2020-09-01 15:52
From : Communities>>Open Forum
Hi - We have received an application for a loan from a DACA recipient. Has anyone lent to DACA borrowers and do you have any advice on the best way to structure the loan?  thanks! ------------------------------ Anna Tefft SVP and Director of Lending Natural Capital Investment Fund, Inc. Shepherdstown WV (304) 876-2815 ------------------------------

RE: Tip Tuesday

Tue, 2020-09-01 13:48
From : Communities>>Open Forum
In this week's Tip Tuesday, we will show you how to change your password. Happy September everyone! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

Files Attached Document
RE: Tip Tuesday

RE: Member Monday

Tue, 2020-09-01 12:03
From : Communities>>Open Forum
Thank you for this great recognition! We are  all in this together. ------------------------------ Kot Hordynski Director of Marketing & Impact ICA Oakland CA 650.867.2497 ------------------------------

RE: Member Monday

Mon, 2020-08-31 12:22
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of ICA In the midst of an unprecedented economic disruption caused by the coronavirus, companies needed cash. On March 20, 2020, ICA launched the Rapid Response Liquidity Fund, providing 0%-interest loans with near-immediate working capital to our network of small businesses. ICA's loans helped businesses stabilize their operations, preserve local jobs, make investments to adapt and pivot their businesses, and position themselves [More]

RE: COVID small business loans & CDFI certification

Wed, 2020-08-26 11:27
From : Communities>>Open Forum
Good Day Jennifer and community, We have assisted existing and new clients create emergency and COVID related loan applications. Of the many uses of data collection from the applications, one has been to track their current market and document emerging markets. The hope is follow-up will demonstrate greater outcomes and impacts related to the lending services.  Our team would be glad to help in anyway! ------------------------------ Michael Brydge Sweet Grass Consulting Fort Collins CO 540-448-1826 [More]

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