CDFI Connect Community Discussions

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Updated: 27 min 7 sec ago

Open Position: Business Lender in Walla Walla, WA

Fri, 2019-03-22 14:55
From : Communities>>Open Forum
Hi, Craft3 is looking for a Business Lender for our Walla Walla, WA office, to support the Craft3 Commercial Lending business unit. This position will be responsible for generating and underwriting new mission-based business loans and servicing a loan portfolio that meets Craft3's mission, financial and risk goals. The primary focus of lending targets small and medium businesses in the Pacific Northwest, specifically those owned by minority, woman, veteran, and immigrant entrepreneurs and those [More]

Open Position: Senior Associate, Compliance and Portfolio Management

Thu, 2019-03-21 17:07
From : Communities>>Open Forum
Hello all, We're in the process of recruiting for a new position - Senior Associate, Compliance and Lending. We've posted the opening in several places, including the OFN job bank, Indeed, Idealist, Handshake. Are there places you've found particularly effective for recruiting? Here's a link to the job description: https://housingpartnership.net/about/staff/open-positions/senior-associate-lending Virginia Mara Director, Portfolio Management P: 617-259-1813 One Washington Mall, 12 th Floor [More]

RE: Staff Time Tracking & Policies - Best Practices

Thu, 2019-03-21 15:22
From : Communities>>Open Forum
Thank you @Christina Jennings for taking the time to respond and for the information.  We have a team member that loves Asana and is also investigating the tie-in with Harvest Time Tracking​.  It's always good to have options by which to compare - especially with a positive reference. Do you have any additional insight as to a good reference to establish our HR timekeeping policies / procedures as well?  Were your policies developed in-house or do you have a resource that we could tap?  (As you know [More]

RE: Staff Time Tracking & Policies - Best Practices

Wed, 2019-03-20 21:14
From : Communities>>Open Forum
Hi, Caprice.  This year we moved off our old spreadsheet time tracking system and are now using TSheets an App based program. It allows to assign time to projects and program, track PTO and can be easily used on phones or desktop. So far we are very happy with it.  Christina Jennings Executive Director Shared Capital Cooperative ------------------------------ Christina Jennings Executive Director Shared Capital Cooperative Minneapolis MN 612-331-9103 ------------------------------

Women as Leaders at CDFIs

Wed, 2019-03-20 13:14
From : Communities>>Open Forum
Hi all: Here is our latest release of data from our research. You can also find it on our blog at http://www.fundconsulting.com/women-leaders-cdfis/ FUND Community Institute continues to engage in dialogue and analysis around data from its landmark study, Perception versus Reality: Women and Change in the CDFI Industry (available at www.fundci.org ). This month, we examined the prevalence of women as leaders of CDFIs, and how this role may have changed since the founding of the industry. The [More]

CDFI podcast on Laura Flanders Show

Wed, 2019-03-20 09:21
From : Communities>>Open Forum
On March 18, Laura Flanders interviewed me about my book, Democratizing Finance: Origins of the Community Development Financial Institutions Movement ( www.lauraflanders.org/listen ). Her weekly series of interviews on a wide range of social, economic, and political subjects provides much food for thought for "forward thinking" individuals. -- Clifford N. Rosenthal Democratizing Finance: Origins of the Community Development Financial Institutions Movement Available through: www.cliffrosenthal.com [More]

RE: Loan Loss Reserve

Tue, 2019-03-19 19:14
From : Communities>>Open Forum
Thank you Jyothi! I appreciate your response but I don't think that's what I'm looking for.  I believe it was something handed to the attendees that allows the user to calculate out the loan loss reserve for each individual loan.  Kind of like a rating system taking different variables into consideration to get to the end result.  I do appreciate your taking time to reply back! ------------------------------ Kerry Poelman California Capital Financial Development Corporation Accounting & Loan Servicing [More]

RE: CRMs for CDFIs - what do you use?

Tue, 2019-03-19 14:39
From : Communities>>Open Forum
Hello - Want to be careful about just plugging our solution. But, thought this might be a useful bit of information for orgs looking at Salesforce. We have made significant gains in decreasing the effort for CDFI's to adopt Salesforce for fundraising/origination/program-mission management. Our goal was to leverage the Nonprofit Success Pack and Sales Cloud to bring philanthropy and lending together at a price-point CDFI's can work with.  My colleague Lily posted a short (7 minute) video that might [More]

Foundations Transforming Communities with Impact Capital Investments

Tue, 2019-03-19 14:20
From : Communities>>Open Forum
The new   "Foundations and Impact Investing"  issue from GreenMoney Journal is now online. Read the March 2019 articles by  • Debra Schwartz of MacArthur Foundation;  • Melissa Berman of Rockefeller Philanthropy Advisors;  • Teri Lovelace of LOCUS Impact Investing;  • Annie McShiras of Self-Help Federal Credit Union. All of these and more at-  https://GreenMoney.com   Let's us know your thoughts on our first-ever full issue on the topic - there is a comment section after every article on the website [More]

Files Attached Document
Foundations Transforming Communities with Impact Capital Investments

Staff Time Tracking & Policies - Best Practices

Tue, 2019-03-19 14:18
From : Communities>>Open Forum
Hello all! Although we have been growing for some time now, we still have some basic housekeeping that needs to be done.  As our staff and outreach grows, it is apparent that we need to consider some new methods and would like to get some feedback on best practices.  We are an independent non-profit Native CDFI with roots from a for-profit corporation.  As such, many of our existing policies, procedures, etc. were hand-me-downs and do not readily adapt for our world.  Therefore, we are asking our [More]

RE: CRMs for CDFIs - what do you use?

Tue, 2019-03-19 13:49
From : Communities>>Open Forum
Hi @Alisa Zimmerman   Can you share your status on this project?  If a decision was made, would you please share the what / why?  Thanks. :O)​ ------------------------------ Caprice Pratt Commercial Loan Officer / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

Tip Tuesday: Tags

Tue, 2019-03-19 11:41
From : Communities>>Open Forum
Did you know that you can tag posts and library content? Hashtagging is a great way to help sort and categorize the information you're already posting and sharing. Tags Within a Post or Library Content: For example, if you're posting a message about CDFI: --Type the hashtag sign (#) and "CDFI" in the body of your post --When you type the hashtag, if there are similar created tags by users, they will appear in the drop-down. If there aren't any, you can create your own tag --Remember, if you are using [More]

RE: CDFI loan funds capitalized by banks

Tue, 2019-03-19 11:37
From : Communities>>Open Forum
Dear Marva, We're PA's Alternative Financing Program (as designated by the federal Assistive Technology Act) and a CDFI that focuses on consumer loans for individuals with disabilities (and older Pennsylvanians.) We have three partner banks for our low-interest (and low-interest, guaranteed) program -- loans that are capitalized by our partner banks. I'd be happy to talk with you later this week if you are interested. Susan Tachau Pennsylvania Assistive Technology Foundation 1004 West 9th Avenue [More]

Social Impact Investing Conferences

Tue, 2019-03-19 11:34
From : Communities>>Open Forum
Hi all, I am looking for your opinion on which Social Impact Investing Conference is a must to attend in 2018. If you only had to chose one, which one would you attend?  I represent Capital for Change, a Connecticut based CDFI loan fund and would be interested in hearing from folks who have attended in the past and a brief discussion of the event's merits. Two national conferences come to mind the US SIF Conference in June in Minneapolis and the November conference in Colrado Springs. ------------------------------ [More]

Loan Loss Reserve

Mon, 2019-03-18 20:23
From : Communities>>Open Forum
Does anyone have access to an updated Loan Loss Reserve template?  May at our offices thinks she was handed something that can help compute the loan loss reserve when she attended the CDFI convention but no one can seem to locate it.  If anyone can share a copy of the information handed out this year at the conference, we would very much appreciate it.  I know there is a lot of information on this connect community about this subject but I can't seem to locate what she is asking for.  Thank you  [More]

CDFI loan funds capitalized by banks

Mon, 2019-03-18 15:50
From : Communities>>Open Forum
I have been asked by a CDFI to obtain information on how they might structure a loan pool capitalized by banks. I would truly appreciate the support of CDFIs that have already established such loan pools.  All information on loan pools will be appreciated.  In addition, we are particularly interested in learning about loan pools that are not owned by the CDFI .  Funds for approved loan will be made to the borrower by the CDFI from a pro-rata pool of bank investors. My interest is to gain an understanding [More]

RE: Loan Loss Reserved and off balance sheet guarantees

Thu, 2019-03-14 11:04
From : Communities>>Open Forum
Oh, we've been through this conundrum twice and we did a lot of research. Here's how we handle it... If we have the reserves in house, they go on the balance sheet but we also have a contra account for the reserves. We have access to a state program and the way that the program works there are actual bank accounts that we can't draw on until we go through foreclosure and complete all collateral liquidation, but there is a specific amount and its our account. We also record this on the balance sheet, [More]

Geeking out at the CDFI Coalition!

Thu, 2019-03-14 10:35
From : Communities>>Open Forum
------------------------------ Jason Friedman Principal Friedman Associates 319-341-3556 jasonj@friedmanassociates.net www.friedmanassociates.net ------------------------------

RE: Loan Loss Reserved and off balance sheet guarantees

Wed, 2019-03-13 16:50
From : Communities>>Open Forum
We've actually thought about this very differently, and are under the impression that as long as your Loan Loss Provision policies are legitimate and consistent, it's a reasonable factor to include in your provisioning percentage which is a management decision.   It seems like your balance sheet should reflect as accurate an image of your financial position as possible. Imagine, for example, my entire balance sheet was 1 $1,000 loan that I would typically provision 5% for and I had a contract in [More]

FHLB's new Homebuyer Dream Program

Wed, 2019-03-13 14:46
From : Communities>>Open Forum
The Federal Home Loan Banks are replacing the First Home Club matched savings program with the Homebuyer Dream Program. In our view, the new program will not benefit low resource first time home buyers as well as the First Home Club. We are strategizing how to participate in the Homebuyer Dream Program so that it benefits our lower income first time home buyers. I will note that Ithaca, NY has very high housing costs. Wondering how organizations participating in the current First Home Club are planning [More]

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