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Updated: 1 min 49 sec ago

CDFI FA Award announcement date?

3 hours 21 min ago
From : Communities>>Open Forum
Hi all,  Does anyone have any insight as far as when the FA Awards will be announced? I noticed that in previous years they have been released in November (this was our first year applying.) Since we are now approaching the end of November I was wondering if any more experienced applicants might know what the status is. ------------------------------ Emily Olsen Administrative Assistant to the VP of Accounting and Finance University of Michigan Credit Union Ann Arbor MI 734-662-8200 ------------ [More]

Webinar: Education for Change Leaders

7 hours 35 min ago
From : Communities>>Open Forum
Register Now! The Carsey School of Public Policy invites you to our upcoming webinar, the Carsey School Master's Degrees: Education for Change Leaders , to learn about the Carsey School of Public Policy's three master's degrees: the Master in Public Policy (MPP) , the Master in Community Development (MCD) , and the Master of Public Administration (MPA) . During this live webinar, Dan Bromberg will share with you what makes each of Carsey's three master's programs unique. You'll learn about the capstone [More]

RE: Innovations in Underwriting

8 hours 22 min ago
From : Communities>>Open Forum
Hi @Amy Collins ,  The recording of the webinar is below: Innovations in Underwriting webinar . We also produced a publication .   Thanks​! ------------------------------ Seth Julyan Executive Vice President, Membership Opportunity Finance Network Philadelphia PA 215-320-4342 ------------------------------ ------------------------------------------- Original Message: Sent: 11-18-2019 05:40 From: Amy Collins Subject: Innovations in Underwriting Hi everyone, This is a long shot, but worth a try! Does [More]

Innovations in Underwriting

11 hours 4 min ago
From : Communities>>Open Forum
Hi everyone,  This is a long shot, but worth a try! Does anyone know if there is a recording of this presentation from August of 2017?  Innovations in Underwriting:  https://archive.conference.ofn.org/wp-content/uploads/Innovations-in-Underwriting_7.26.2017.pdf It was hosted by OFN in conjunction with Wells Fargo (Diverse Community Capital), Carolina Small Business Development Fund, Montana and Idaho CDC, and Pacific Community Ventures. The content is closely related to work I'm doing for several [More]

RE: Next Week: Expert Webinar on CDFI Fund Certification

Fri, 2019-11-15 20:23
From : Communities>>Open Forum
Ho Bob, Great seeing you at OFN. By the way, can you send me your email contact information? I would like to stay in contact in the most efficient manner (non-phone calls - lol). I am also seeking the contact information for Nor-cal CDC as I want to create a state guaranty relationship. Thanks,  RP ------------------------------ Richard Pallay Director, Loan Services Vermont Slauson Economic Development Corporation Los Angeles CA 3237532335 ------------------------------

honoring Michael Swack

Fri, 2019-11-15 16:24
From : Communities>>Open Forum
​ In honor of this year's Ned Gramlich Award winner, and in recognition of his service to CDFIs across the country, the New Hampshire Community Loan Fund's board has created a Michael Swack Fund .   Every gift to the fund, large or small, will be dedicated to innovation and strategies of scale. Each gift will send a message of appreciation to Michael personally and ensure that his legacy is known and that his work continues. Go to communityloanfund.org, click on the Donate button, and put Michael [More]

RE: Data Collection with Surveying Tools

Fri, 2019-11-15 11:38
From : Communities>>Open Forum
I would agree that Qualtrics is the gold standard for survey data collection. It does, as Kevin notes, somewhat depend on your needs - as the Qualtrics system can get quite complex (and expensive). We use Qualtrics for our annual borrower survey. It is a good tool because not only does it make it easy to customize data collection (e.g. skip questions based on respondent values or answers to previous question) but it can integrate into CRMs like Salesforce. In a previous role with a state economic [More]

Examples of CDFI Anniversary Communications

Fri, 2019-11-15 11:28
From : Communities>>Open Forum
Looking forward to 2021, Capital Impact Partners will be celebrating its 40th Anniversary. I'm currently working with an internal team to brainstorm ideas to inform our planning and budgeting process. It would be interesting to review what other CDFI's, or similar organizations, have done to celebrate a significant milestone like this. If you provide the names of any organizations you are aware of, or links to online examples, that would be appreciated. ------------------------------ Jason Anderson [More]

RE: Data Collection with Surveying Tools

Fri, 2019-11-15 10:03
From : Communities>>Open Forum
Hi Samuel, A year or so ago, Reinvestment Fund evaluated a number of online survey services, including Survey Monkey, for collecting our outputs and outcomes data from borrowers and ended up with a subscription to Qualtrics. We found that Qualtrics was by far the most fully-featured, flexible option for our purposes. It might or might not be more than you need: our projects tend to be somewhat complicated, with one transaction potentially having multiple borrowers, financial notes, addresses, and/or [More]

RE: UCC Filings

Thu, 2019-11-14 13:42
From : Communities>>Open Forum
Thanks everyone, your input has been very helpful! We're going to start deciding on a loan by loan basis if we feel the lien will be worth it, instead of just automatically doing it every time. ------------------------------ Ryan Schupp Portfolio Specialist Westminster Economic Development Initiative, Inc. (WEDI) Buffalo NY rschupp@wedibuffalo.org ------------------------------

Business Development position

Thu, 2019-11-14 12:33
From : Communities>>Open Forum
We are looking to hire a Business Developer for our non-profit charter school facility development company New Plan Learning in Schaumburg, IL. Please contact me if interested, Regards, ------------------------------ Bek Amankulov Business Manager New Plan Learning, Inc bek@newplanlearning.org Phone:847-376-8404 ext(206) www.newplanlearning.org ------------------------------

Data Collection with Surveying Tools

Thu, 2019-11-14 10:20
From : Communities>>Open Forum
We are exploring using an on-line surveying tool to collect impact data from our borrowers. Currently, we are sending our borrowers an excel file to fill out and send back to us. We are looking into using something like Question Pro or Survey Monkey to streamline the process and hopefully make it easier on our borrowers. Has anyone used any of these types of platforms? What was your experience? Is there one that you particularly like? ------------------------------ Samuel Morgan-Jablonski Compliance [More]

RE: UCC Filings

Thu, 2019-11-14 09:54
From : Communities>>Open Forum
Hi Ryan, First, the standard disclaimer: I'm not offering legal advice. You should consult with local counsel before making a decision. That said... I think there are two questions to consider: 1) what is the likely potential recovery from selling the assets subject to the lien, and 2) is there any psychological value to obtaining the lien? As to the first question, if the debtor has no assets for which there is a ready market, then the lien won't help from a recovery standpoint. Such [More]

RE: UCC Filings

Thu, 2019-11-14 09:30
From : Communities>>Open Forum
Is it a question of the time or the cost? Do you pass that cost on to the client at closing? Sometimes having that lien (even if you do not think you will act on it) is a source of leverage because the borrower is made aware that they could lose all of their equipment, etc. if they defaulted and technically keeps them from selling off assets and pocketing the funds. ------------------------------ Paul Schmitt Credit Manager CommunityWorks Carolina Greenville SC (864) 235-6331 ------------------- [More]

RE: UCC Filings

Thu, 2019-11-14 09:21
From : Communities>>Open Forum
Hi Ryan, We also file UCCs but we pass the recording and satisfaction fees on to the borrower. Theoretically, the filing is to prevent the borrower from selling off the asset(s) but actually recovering an asset, based on a UCC filing, can be costly and may not result in the desired outcome. If we were paying for it, filing a UCC would probably not be worth it for us. Since the borrower is paying, it helps (sometimes) to remind them that you have a lien against their assets. Chris Hudock | Director [More]

RE: UCC Filings

Thu, 2019-11-14 09:13
From : Communities>>Open Forum
I am interested to hear what others say.   My organization does file UCC "all assets" blanket liens on just about every loan we make without specific collateral, but we've never really discussed what benefit that brings.  I'm not aware that we've really weighed our recovery against the time cost.  That said, we do collect the filing fee and release fee as closing costs from the client, so our cost is time and paperwork. (Which is likely pretty steep in the aggregate.) les ------------------------------ [More]

An Exciting Career Development Opportunity for CDFI Women - apply now!

Wed, 2019-11-13 13:51
From : Communities>>Open Forum
We are happy to announce that the application period is now open for the next cohort of the Landit for CDFI Women program! We are thrilled to continue our partnership with Landit , an innovative technology platform that creates a personalized playbook for those seeking to successfully own and navigate their career path. With generous support from Morgan Stanley, OFN will offer this powerful professional development opportunity to a third cohort of CDFI women. Landit for CDFI Women is designed to [More]

UCC Filings

Wed, 2019-11-13 13:36
From : Communities>>Open Forum
Hi everyone, We've been having a discussion here about if UCC Filings are necessary for our loans when there is no specific collateral. We're a microlender with an average loan amount of $7,800, and the majority of UCC Filings are the standard "all of debtor's assets". Since we have to pay to file the UCC and remove it at the end of a loan, and since it adds more time and paperwork for us, we're talking about just scrapping UCC Filings unless there is a specific piece of collateral. Does anyone else [More]

Auto Loans to Immigrants without drivers licenses

Mon, 2019-11-11 10:46
From : Communities>>Open Forum
Has any CDFI provided auto loans to immigrants who do not have drivers licenses? I realize this is problematic, but this type of lending is happening in the predatory lending space. Thanks for any insights or examples. -- Patricia Sterner CU Strategic Planning 535 Dock Street, Suite 209 | Tacoma, WA 98402 phone 253.200.0418 creditunionstrategicplanning.com | Facebook | Twitter

2020 Oweesta Capital Access Convening - Call for Proposals

Fri, 2019-11-08 12:24
From : Communities>>Open Forum
Submit a Session Proposal for the 2020 Native CDFI Capital Access Convening (June 23-25, 2020 - Portland, Oregon)   Play a part in our 2019 Native CDFI Capital Access Convening!   It's that time again to submit ideas for the 2020 Native CDFI Capital Access Convening! Oweesta's annual Native CDFI Capital Access Convening is a national event that brings Native CDFIs, Native American Financial Institutions, partners, practitioners, funders, investors, and bankers together for training and networking [More]

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