CDFI Connect Community Discussions

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Updated: 30 min 41 sec ago

RE: Lending to former felon small business owners

Fri, 2020-03-13 11:35
From : Communities>>Open Forum
Hi Leslie, Credit Builders Alliance has a guide to designing and servicing loans for returning citizens. While it is focused on consumer lending, some of the guidance may be helpful to you. You can find the guide here or in pdf form here . Also worth mentioning that we have another guide specifically about special considerations for helping returning citizens build credit which you can access here . Don't hesitate to reach out with any questions! Best, Talia Talia Kahn-Kravis Credit Builders Alliance [More]

RE: COVID-19 response

Fri, 2020-03-13 11:18
From : Communities>>Open Forum
Hi folks, and thanks for opening this discussion! We are a fully remote workplace, so have a leg up in this particular time, but have strongly encouraged all staff to move in person meetings to phone/video and are looking at remote options for our upcoming quarterly all-day board meeting and for upcoming trainings (both tough for different reasons). We are working on communications with our borrowers, to make sure they know to call us if things turn bad (which we expect they will for some). We're [More]

RE: COVID-19 response

Fri, 2020-03-13 09:59
From : Communities>>Open Forum
Thanks, Seth!  A few of us from Cincinnati Development Fund are interested in joining the March 17 webinar you mentioned. We are actively thinking of ways we can help our borrowers during a difficult time and were curious how other CDFIs are handling the situation as well. Can you share a link on how to register for this webinar? Thanks! Stella ------------------------------ Stella Chang Controller Cincinnati Development Fund, Inc. Cincinnati OH 5139777293 ------------------------------

RE: COVID-19 response

Thu, 2020-03-12 21:14
From : Communities>>Open Forum
Thanks, Lesli and Tamra.  OFN is conducting a webinar on Tuesday, March 17 to give a platform for our members to share their perspectives and insights.  We have heard from many CDFIs over the past few days about their concerns and we want to help our members share information.  Below are some examples of how CDFIs are responding and some of the concerns we are hearing: We are aware of numerous CDFIs instituting a mandatory or optional working remote policy for their staff and suspending all non-essential [More]

RE: COVID-19 response

Thu, 2020-03-12 11:24
From : Communities>>Open Forum
Hello Everyone: I saw that OFN will be holding a webinar on the impact of COVID-19.  In the meantime our organization, Justine PETERSEN, is finalizing phased plans to mitigate risk of infection and to plan for a scenario in which someone in our offices is diagnosed with the virus.  Do other organizations have plans they've already created or existing disaster plans they've modified that they would be willing to share? Feel free to reach out to me at tthetford@justinepetersen.org Thank you, Tamra [More]

RE: Lending to former felon small business owners

Thu, 2020-03-12 09:48
From : Communities>>Open Forum
Hi Lesli,  Most of my clients' loan policies permit lending to individuals with criminal records. Typically the only policy requirement I recommend on that topic is to prohibit lending to applicants who have been convicted of fraud, identity theft, or similar credit-related crimes. However this is also something your underwriters and/or loan approval committee members may prefer to consider on a case-by-case basis.  Businesses "with an associate who is incarcerated, on probation, on parole, or has [More]

Line of Credit

Wed, 2020-03-11 16:02
From : Communities>>Open Forum
This question was asked before in previous years. with not many responses. We are considering a Line of Credit product for the building contractors and other cyclical type businesses we service. We understand that this takes a lot of manpower to administer, but I'm hoping one of my bright and forward thinking brethren has already figured this out. Any suggestions on who to contact? ------------------------------ Larry Bell, MBA Executive Vice President and CFO The Enterprise Center Philadelphia PA [More]

Lending to former felon small business owners

Wed, 2020-03-11 12:30
From : Communities>>Open Forum
Hello again, Would those of you who lend to small businesses owned by former felons please share your policies and/or guidelines? Thank you, Lesli Pintor ------------------------------ Lesli Pintor Executive Director Growth Partners Arizona Tucson AZ (520) 382-9218 ------------------------------

COVID-19 response

Wed, 2020-03-11 11:07
From : Communities>>Open Forum
Hello everyone, My CDFI loans mostly to nonprofit organizations. I am hearing about how many nonprofits are being negatively affected by event cancellations due to the COVID-19 virus, and we are developing ways to help them out.  Have any of you addressed how to help your borrowers through this period? I'd love to hear your ideas and approaches. Feel free to e-mail me at lesli@growthpartnersaz.org. Thank you, Lesli Pintor ------------------------------ Lesli Pintor Executive Director Growth Partners [More]

RE: Microlending training

Tue, 2020-03-10 15:22
From : Communities>>Open Forum
Hi Jeffrey, CAMEO offers a MicroLending Essentials training. We don't have anything scheduled in a physical location, but are open to partnerships. It might be that we hold one in upstate NY in July - we are waiting to hear if our partner receives the funding. We also have a CDFI essentials cohort that starts in April that goes over elements of what should be in a loan portfolio. Feel free to contact me directly to learn more. Warm regards, Heidi -- (please note our new email and web domain) Heidi [More]

RE: Contribution Policies

Tue, 2020-03-10 11:09
From : Communities>>Open Forum
I'm guessing you have policies on the acceptance of stock or securities. Here is a sample from the Propel Nonprofits website to offer an example ( a fellow CDFI): FAN will accept stock or other negotiable instruments as a vehicle for donors to transfer assets to the organization. Transfer and recording the value of the asset shall be done in a consistent manner and in compliance with accounting standards. The Executive Director shall sell any stock given to the organization immediately upon receipt [More]

Contribution Policies

Mon, 2020-03-09 15:22
From : Communities>>Open Forum
Hi folks. Does anyone have policies or guidelines around when they would refuse (or not solicit) a contribution? I can imagine two scenarios that might be worth codifying in policy: 1) the strings associated with the funding would either push us off our mission or would be overly cumbersome, and 2) the funds would be used to cover up activities that run counter to our mission or are unethical. If anyone has any sort of policy language that they would be willing to share, I would appreciate it. Thank [More]

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Mon, 2020-03-09 14:40
From : Communities>>Open Forum
Dorothy, I would be happy to touch upon this subject.  First a little background, I am a banker with about 20 years experience in the municipal space (student loans ABS primarily followed by cities & towns).  I led a $50 million bond transaction that closed in November for the Raza Development Fund, a CDFI based out of Phoenix that manages a NMTC program and a lending program focusing on education, affordable housing, healthcare and social services. Credit In general, the bonds recently issued by [More]

Positive Impact Investing with Native Entrepreneurs & Indigenous Communities

Mon, 2020-03-09 14:06
From : Communities>>Open Forum
GreenMoney's March 1st issue & Podcast on "Positive Impact Investing with Native Entrepreneurs & Indigenous Communities" is now online featuring Carla Fredericks of First Peoples Worldwide ;  Jessica Stago of Change Labs / Native Startup ;  Chris James of the National Center for American Indian Enterprise Development ; Jan Bryan talks with Native entrepreneur Jason Campbell ; Keith Doxtator of the Oneida Nation ; and a Podcast with Dave Archambault II of the Standing Rock Sioux Tribe – all here at- [More]

Files Attached Document
Positive Impact Investing with Native Entrepreneurs & Indigenous Communities

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Mon, 2020-03-09 12:06
From : Communities>>Open Forum
Thank you, Dorothy!  BlueHub Loan Fund and most if not all of the other CDFI public bonds issued to date are "unsecured." This is different than the CDFI Bond Guarantee Program – which are all generally secured debt. The nature of the bonds, including that they in our case unsecured debt along with all of our other senior lenders, is discussed in the Offering Memorandum. Please see Appendix A of the Offering Memorandum final or Preliminary Offering Memorandum, which can be found on www.munios.com [More]

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Mon, 2020-03-09 11:20
From : Communities>>Open Forum
Hi Dorothy, ​ Thanks for these questions! I am connecting with our finance team and will get back to you. Madeleine ------------------------------ Madeleine O'Connor Communications Associate Community Preservation Corporation New York NY (212) 869-5300 ------------------------------

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Mon, 2020-03-09 10:32
From : Communities>>Open Forum
Thank you for the questions Elizabeth and great info from BlueHub Loan Fund. Below are our thoughts on what worked well for CPC: Project Team: Before engaging in the process, establish a cross-functional team to be engaged in both the corporate rating and the bond raise processes. Areas to consider are finance, legal, and accounting at a minimum. Also, hiring a reputable banker may be important to help provide consultation throughout the process and to underwrite the transaction. Corporate [More]

RE: Members in the News: Open Table Discussion with BlueHub Loan Fund- Recipient of $75 million in inaugural Sustainability Bond Issuance

Mon, 2020-03-09 09:41
From : Communities>>Open Forum
Thanks, Elizabeth! Here's some info on those questions:                The process is really a two part process: first working with S&P to obtain a rating and second, working with investment bankers to go to market for public debt. The first process we approached by statistically reviewing our 5 year history versus other rated CDFIs. That financial analysis is important to give you some sense regarding how you will be compared to your peers. The one area that is not as transparent until you speak [More]

Microlending training

Mon, 2020-03-09 09:09
From : Communities>>Open Forum
We are interested in hearing about microlender training opportunities. We know of the Economic Development Finance training offered through National Development Council, but would be interested in something that deals more with the nuts and bolts of lending and loan packaging. Something online or located in the Upper Midwest would be great! Any thoughts? Jeff Wig

Tiny Home financing?

Sat, 2020-03-07 06:18
From : Communities>>Open Forum
Hi all,  I did a quick "tiny home" search in the discussion forums and could not find anything.  Right now, we're moving into manufactured housing lending - so this would likely be a ways off before we entertain it (though have been approached about it).  Is anyone working in this space or considering it?  Any leads or resources would be appreciated!   We know several CDFIs do car loans - so it might be similar to that.   We're particularly interested in learning about underwriting policies, closing [More]

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