CDFI Connect Community Discussions

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Updated: 32 min 5 sec ago

RE: Main Street Lending Program

Thu, 2020-07-02 20:47
From : Communities>>Open Forum
I  couldn't agree more!! It seems, even in times of crisis, our goverment has the mentality, lets get the rich richer & the poor poorer! ------------------------------ Misti Cook Owner Higher Logics Community Contacts (CDFI CONNECT - DO NOT DELETE) Castlewood VA 2762103708 ------------------------------

RE: Main Street Lending Program

Thu, 2020-07-02 19:46
From : Communities>>Open Forum
Meant to say threshold, not cap of 50 employees Brett Doney President & CEO Great Falls Montana Development Authority High Plains Financial Direct Mobile 1-406-750-2119 Untame Your Entrepreneurial Spirit in Great Falls Montana Grow GreatFallsMontana.org Follow us on social media: Facebook | LinkedIn | Instagram | Twitter Connect with me on LinkedIn ! Click here to get the latest regional business news delivered to your inbox with the Great Falls Top Ten! For resources, virtual live meetups, [More]

RE: Main Street Lending Program

Thu, 2020-07-02 19:45
From : Communities>>Open Forum
It's time for the Fed to step up and provide financing for community-based CDFI's. The 50 employee cap is insulting to community development corporations who have worked for decades to create opportunity in our most distressed neighborhoods, communities and people. Brett Doney President & CEO Great Falls Montana Development Authority High Plains Financial Direct Mobile 1-406-750-2119 Untame Your Entrepreneurial Spirit in Great Falls Montana Grow GreatFallsMontana.org Follow us on social media: Facebook [More]

RE: Main Street Lending Program

Thu, 2020-07-02 19:24
From : Communities>>Open Forum
I would like more information please. mistinriley15@gmail.com Thanks! ------------------------------ Misti Cook Owner Higher Logics Community Contacts (CDFI CONNECT - DO NOT DELETE) Castlewood VA 2762103708 ------------------------------

CDFI portfolio managers training program search

Thu, 2020-07-02 12:40
From : Communities>>Open Forum
Hello, Please advise any good online training program for CDFI Portfolio Managers. Thank you Emeric DONGMO Portfolio Manager Southwest Solutions edongmo @swsol.org | www.swsol.org

RE: Virtual Networking for CDFI Interns

Thu, 2020-07-02 11:22
From : Communities>>Open Forum
Super interesting and timely Jessel. I just spoke to one of our MBA interns at Self-Help. I'm actually not too sure we have others, but I think it's a fantastic idea. ------------------------------ Manuel Costa Executive Staff Self-Help Ventures Fund Miami FL 9194507088 ------------------------------

RE: Virtual Networking for CDFI Interns

Thu, 2020-07-02 10:06
From : Communities>>Open Forum
Love it! I'm an Americorps VISTA at Holy Rosary Credit Union, so not quite an intern, but I'd join! ------------------------------ Ben Schnelle Americorps VISTA Holy Rosary Credit Union Kansas City MO 816-221-2734 ------------------------------

Women Impact Investing Network Event

Wed, 2020-07-01 16:37
From : Communities>>Open Forum
Hi Everyone, I serve on the board of the Women Impact Investing Network of DC. Our summer virtual panel, "Building Resilient and Equitable Communities" has a particular focus on community investing. We have a fantastic line-up of speakers including Lori Chatman from Enterprise Community Loan Fund. I invite you to join us virtually and hope to see increased participation from the CDFI community in the network! Title: Building Resilient and Equitable Communities Date: Wednesday July 8th 2020 Time: [More]

Virtual Networking for CDFI Interns

Wed, 2020-07-01 16:21
From : Communities>>Open Forum
Hi Everyone,  I wanted to ask if any of your organizations hired interns for the summer? Capital Impact has 4 interns who are all working remotely. I am looking for creative ways to enhance their networking experience. I am thinking of hosting a lunch and learn session; I would send articles or videos on a particular topic and then bring the CDFI intern cohort together to discuss the topic and also meet each other. Thoughts? If you have any interest in participating please let me know and send over [More]

RE: Portfolio Data Collection/Maintenance during COVID-19

Wed, 2020-07-01 10:54
From : Communities>>Open Forum
Using a program like Lenderfit could be a good way to collect data from the application stage. Sung Ju ------------------------------ Sung Ju Park Consultant Critical Analytics LLC Prospect KY (207) 838-0410 ------------------------------

RE: Portfolio Data Collection/Maintenance during COVID-19

Wed, 2020-07-01 10:53
From : Communities>>Open Forum
Hi Caprice and all, If there is any CDFI that would be interested in quantifying loan portfolio credit risk in US dollar terms ($$) to reflect such $$ on financial statements (e.g., allowance for loan losses, loss reserve, etc.) now or in the future, I would be happy to discuss and provide some guidance on what you collect and maintain/update. I think CDFIs will greatly benefit such credit risk valuation/quantification when you talk to capital providers and justify your numbers on the financial statements.  [More]

RE: CDFIs Outperform other PPP Lenders

Wed, 2020-07-01 10:13
From : Communities>>Open Forum
Congratulations to All! Something for us to celebrate as we all take a pause for a long weekend and celebrate the 4th of July. Thank you for posting Jennifer. Yanki Tshering, Executive Director Business Center for New Americans 120 Broadway, Suite 230 NY, NY 10271 212 898-4112 phone 646 723-1399 fax www.nybcna.org www.nybcna.org business loans, homeownership, & savings

RE: Tip Tuesday

Tue, 2020-06-30 11:59
From : Communities>>Open Forum
In this week's Tip Tuesday , we will show you how to follow a discussion thread! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

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RE: Tip Tuesday

RE: Portfolio Data Collection/Maintenance during COVID-19

Tue, 2020-06-30 11:57
From : Communities>>Open Forum
@Sung Ju Park ​​​Indeed! Most of the lenders we work with have been focused on efficient COVID-19 application management solutions out of necessity. Many are now looking for efficient post-approval data collection after the loan closes. Happy to help if anyone needs additional support with long-term data collection. Best, ------------------------------ David Taliaferro Co-Founder / CEO l Lenderfit 502.640.2365 l www.lenderfit.io ------------------------------

CDFIs Outperform other PPP Lenders

Tue, 2020-06-30 10:41
From : Communities>>Open Forum
CDFIs can be extremely proud of the industry's performance as Paycheck Protection Program (PPP) lenders, outpacing financial institutions many times our size and reaching very small, minority- and women-owned businesses in low wealth markets. See OFN blog for more details. ------------------------------ Jennifer Vasiloff Chief External Affairs Officer Opportunity Finance Network Washington DC (202) 573-2123 ------------------------------

RE: Portfolio Data Collection/Maintenance during COVID-19

Mon, 2020-06-29 16:04
From : Communities>>Open Forum
@Sung Ju Park thanks for the timely reminder....We are certainly in new territory and accurate record-keeping is more critical now than ever. ​ ------------------------------ Caprice Pratt Small Business Lending Outreach / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

RE: Member Monday

Mon, 2020-06-29 10:42
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Southwest Georgia United . Southwest Georgia United is based in Cordele, Georgia with the mission to reduce poverty and improve the quality of life in rural Georgia. With financing from Southwest GA United, the historic Gillespie Selden Institute continues to educate the persistently impoverished black community since 1902. A daycare service is also continuing to run, serving forty to fifty students and providing sixteen jobs. [More]

RE: CDFI Underwriting

Mon, 2020-06-29 09:20
From : Communities>>Open Forum
Hunter- I would reach out to any local CDCs.  They probably have resources they could share with you as you build out the underwriting process and establish any policies.  You should be able to do a google search and find some simple underwriting tables that can give you ideas about what information you will want in your approval memos.  Additionally, someone internal to your organization must have information on what kinds of loans the fund will make (since that should have been part of the CDFI [More]

Reflection on the Small Business Finance Forum

Fri, 2020-06-26 17:03
From : Communities>>Open Forum
Hi Everyone, Hope you are all staying safe.  Just wanted to share my reflection inspired by the Small Business Finance Forum .  Thank you so much to OFN for organizing an amazing event under extraordinary circumstances.  Also a shout-out to my colleagues at the CDFI Women's Network for putting together our first virtual booth!   Take care, Lily ------------------------------ Lily Leavitt Community Development Practice Lead Craftsman Technology Group Boston MA lily@craftsmantech.com 857 289-2472 [More]

RE: CDFI Underwriting

Fri, 2020-06-26 13:28
From : Communities>>Open Forum
HI Hunter, I think it depends on what type of underwriting you do. CAMEO offers a MicroLending Essentials class which teaches you how to underwrite a small business microloan. We are in process of setting a date for an online version. We also have a CDFI Essentials cohort which is a peer cohort learning group that goes over different topics in lending for new CDFIs NDC has a 1-week course (in person - not sure what they're doing now) that may be more appropriate for larger loans. Warm regards, [More]

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