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Updated: 39 min 11 sec ago

RE: Challenges in Collecting loan covenants from small business clients

Tue, 2019-05-07 12:08
From : Communities>>Open Forum
Hey Karen, I am happy to share. You can email me at melissaj@ccdfi.com or call me at 949-525-4960. ------------------------------ Melissa Johnson Clearinghouse CDFI ------------------------------

RE: Living Wage Press Conference and Panel Discussion

Mon, 2019-05-06 16:48
From : Communities>>Open Forum
Thanks, Karl! Looking forward to the session! Cathi Kim Director, Inclusiv Capital | Inclusiv E: ckim@inclusiv.org T: 212.809.1850 x271 Direct: 646.367.3185 39 Broadway, Suite 2140, New York, NY 10006 https://www.inclusiv.org/investing | Facebook | LinkedIn | Twitter Inclusiv is the new name of the National Federation of Community Development Credit Unions

RE: Loan Documents

Mon, 2019-05-06 13:14
From : Communities>>Open Forum
While I know Heather asked this question over a year ago, it's a topic that always finds new interest with new members and new CDFIs joining our community. We also use Finastra's LaserPro primarily for the legal peace of mind since we are not large enough to have our own attorney nor are there any in our area with specific CDFI knowledge.  Finastra constantly monitors current law, so we have the confidence that our documents are always as up-to-date as possible. We were a team of just five when I [More]

RE: Time allocation

Mon, 2019-05-06 12:54
From : Communities>>Open Forum
Our team recently changed to Harvest (see more at https://www.getharvest.com/ ).  So far, so good.....It has delivered what it promised and is user friendly. ------------------------------ Caprice Pratt Small Business Lending Outreach / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

RE: Time allocation

Mon, 2019-05-06 09:52
From : Communities>>Open Forum
​We are actually looking for the same thing. We will be having a demo with Timeclock Plus today. ------------------------------ [Larry] [Bell] [MBA] [Executive Vice President and CFO] [The Enterprise Center] [Philadelphia] [PA] (215-895-4000] ------------------------------

RE: Loan Documents

Mon, 2019-05-06 09:46
From : Communities>>Open Forum
Loan docs vary by state.  We've always done in-house with our own attorney.  Our cost is fairly low at about $300 for a simple transaction.  We had the attorney draft some basics sets of documents (depending on the source of our loan capital).  The attorney makes changes to the docs to adjust for different loan terms, interest rate, collateral, etc.  We get them back to review and loan officer closes the loan.  It is pretty simple, it only costs us about $300 per transaction, and that is a cost that [More]

RE: Time allocation

Mon, 2019-05-06 09:43
From : Communities>>Open Forum
We use Replicon at the moment. Its a decent online service with what I would consider the best help desk/call center I've ever worked with. Super helpful, super responsive if you ever have questions. ADP has wanted to get our business for Time and Attendance but their platform doesn't provide the type of reporting we need without giving them more of our business. Replicon prices per user per month - somewhere in the range of $7/user/mo. ------------------------------ Kevin Fryatt Director of Finance [More]

Challenges in Collecting loan covenants from small business clients

Mon, 2019-05-06 09:39
From : Communities>>Open Forum
For those of you that must annually collect information from small business clients to fulfill loan covenants or other reporting requirements: How do you do it? Do you have any tips or ideas that we might employ to overcome the challenge we find in collecting personal and business financial statements and tax returns (and other items such as jobs, impact, etc.)? Do you have any Loan policies/procedures or documented processes addressing this area? We are trying to improve this specific area of our [More]

Time allocation

Sat, 2019-05-04 20:05
From : Communities>>Open Forum
We have multiple programs, with staff time allocated across multiple programs. Do any of your organizations use a specific time tracking or timesheet software to help ease up the burden of keeping track of time manually?

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