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Updated: 50 min 52 sec ago

Responsible Business Lending @ CBA next week

Fri, 2019-06-07 14:07
From : Communities>>Open Forum
Joyce Klein (Apsen Institute's FIELD), Kim Wilson (Responsible Business Lending Coalition) and I will be speaking at the Credit Builders Alliance Symposium on Thursday, June 13 at 1:45pm. https://www.creditbuildersalliance.org/whats-new/events/2019_credit_building_symposium Join us to hear the latest on responsible small business lending. Exciting things are happening. -- Heidi Pickman Vice President, Programs and Policy CAMEO 1 Hallidie Plaza , Suite 715 San Francisco, CA 94102 ph 415.992.4483 [More]

RE: Challenges in Collecting loan covenants from small business clients

Fri, 2019-06-07 11:33
From : Communities>>Open Forum
Our organization would be very interested in attending a webinar on the topic. ------------------------------ Eric Foley Loan Officer Micro Enterprise Services of Oregon Portland OR 503.841.3351 ------------------------------

Student Loans in Global Cash Flow Analysis

Thu, 2019-06-06 14:45
From : Communities>>Open Forum
How does your cdfi measure student loans that are on some type of temporary income driven repayment plan (usually 12 months)? It's likely the payment plan will be renewed but there is no guarantee? Does your cdfi just use the monthly payment amount as seen on the plan (even though the term of the loan could exceed the life of the IDR payment plan), or do you calculate the total loan payment that the applicant could expect to pay off the IDR plan? -- Joshua Brenner Loan Operations Manager Westminster [More]

RE: Challenges in Collecting loan covenants from small business clients

Thu, 2019-06-06 14:28
From : Communities>>Open Forum
I too am interested in a seminar on this topic. My email: sortiz@common-capital.org Sam Ortiz | SVP Business Lending (413) 233-1683 sortiz@common-capital.org www.common-capital.org Invest in the Community First Fund Join our email list

RE: FA submission- possible glitch?

Thu, 2019-06-06 13:18
From : Communities>>Open Forum
Never mind - AMIS IT fixed the issue. If anyone else has this problem I can give you the lowdown... ------------------------------ [Laura] [Buxbaum] [SVP, Public Policy and Resource Development] [CEI] [Brunswick] [ME] [(207)509-5873] ------------------------------

RE: Challenges in Collecting loan covenants from small business clients

Thu, 2019-06-06 12:48
From : Communities>>Open Forum
I would be very interested as well in listening in on any webinar in regards to this  - please add my email to the list of attendees. kpoelman@cacapital.org ------------------------------ Kerry Poelman California Capital Financial Development Corporation Accounting & Loan Servicing Coordinator kpoelman@cacapital.org Sacramento, California (916)442-1729 ------------------------------

FA submission- possible glitch?

Thu, 2019-06-06 11:55
From : Communities>>Open Forum
Hey everybody- I'm about to submit our FA application and have just come across a possible submission glitch that I wondered anyone else had experienced. Our whole application is complete, but the Matching Funds Detail section is not showing complete. All the rest of the matching funds section has the green checkmark. I've checked each record and the CSV and it all seems to be there. I'm afraid to click the submit button if there's a problem and was hoping someone would know the answer. I did leave [More]

RE: Risk Management Panel at OFN Conference?

Thu, 2019-06-06 11:34
From : Communities>>Open Forum
Hi Sara -  I hadn't seen this earlier - i would be very interested in a panel discussion on RM topics, particularly on ERM, and how organizations identify risks, recognize what controls exist/apply at different levels, and finally how they view/assess risk appetite and tolerance.  thanks for initiating the topic! Dan ------------------------------ Daniel Komarek Chief Credit Officer Community Reinvestment Fund, USA Minneapolis MN 612-338-3050 ------------------------------

RE: Challenges in Collecting loan covenants from small business clients

Thu, 2019-06-06 11:27
From : Communities>>Open Forum
Dedicating time during the closing or soon after specifically to walk through the reporting requirements can be very effective in setting expectations up front.  It's helpful to ensure that the borrower understands and is prepared to fulfill those requirements before sending reminders. I agree that this would be a good topic for a webinar. Ariana Miller Program Manager Empowerment Reinvestment Fund ------------ TruFund Financial Services, Inc. New York, NY 10018 Office: 212-994-2727 amiller@trufund.org [More]

CDFI Surveys

Wed, 2019-06-05 17:23
From : Communities>>Open Forum
Survey season is upon us.  OFN's FY 2018 Annual Member Survey will be released on Monday June 10th with a July 19th (Friday) due date.  We delayed this year's release to avoid overlap with CDFI Fund reporting and application deadlines. Also, if you haven't already, please complete the 2019 Federal Reserve Survey of CDFIs before June 20th.  Nearly 350 CDFIs have responded as of Monday 6/3.  We have roughly 1,000 certified CDFIs so let's push for at least 500 responses!  The Fed has provided a survey [More]

RE: Risk Management Panel at OFN Conference?

Wed, 2019-06-05 11:14
From : Communities>>Open Forum
Thank you all for your feedback! ------------------------------ Sara West Director of Compliance IFF Chicago IL (312) 340-6049 ------------------------------

RE: Challenges in Collecting loan covenants from small business clients

Wed, 2019-06-05 10:08
From : Communities>>Open Forum
CDA would also be interested. We maintain a strong relationship with borrowers which makes collection easier, but are also looking to move into a more cloud based collection system so we can store our data in a meaningful way that will allow us to do more long term analysis with less effort. ------------------------------ Michael Financial Analyst Director, Loan Compliance and Community Impact Cleveland Development Advisors Cleveland OH 216.592.2430 ------------------------------

RE: Risk Management Panel at OFN Conference?

Tue, 2019-06-04 14:55
From : Communities>>Open Forum
Great panel idea!  Regardless of the specific topic, our CDFI team would be interested. Thanks @Sara West ​ ------------------------------ Caprice Pratt Small Business Lending Outreach / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

RE: Rumor has it: Is there a New England User Group?

Tue, 2019-06-04 10:48
From : Communities>>Open Forum
Hi Lora, I know that there are regional chapters of the Women's Network; let me know if you'd like me to put you in touch with the right people to get involved there. That being said, I am not aware of a more broadly inclusive group specific to NE, though I would certainly be interested as well!  ​ ------------------------------ Ali Robinson Multifamily Loan Portfolio Manager Housing Development Fund arobinson@hdfconnects.org ------------------------------

RE: Measuring Personal Financial Statements in Global Cash Flow

Tue, 2019-06-04 09:46
From : Communities>>Open Forum
Hi Joshua, I've worked with several CDFIs on this question. What many do, and what I would recommend, is taking the stated value of personal expenses if it seems reasonable and is corroborated by bank statements. If not, use 20% of the individual's income. As you recognize, very few individuals truly have zero personal expenses. Hope this helps! Amy Collins 312-620-4616 www.meetamycollins.com

Wacif is Hiring in Washington, DC! Program Manager: Minnesota Avenue Main Street

Tue, 2019-06-04 09:12
From : Communities>>Open Forum
TITLE: Program Manager, Minnesota Avenue Main Street POSITION OVERVIEW Launched in late 2017, the Minnesota Avenue Main Street ("MAMS") is one of DC Main Street programs focused on stabilizing and rejuvenating the Ward 7 business community, with specific concentration on Minnesota Avenue NE and Benning Road NE corridors. The neighborhood profile can be found at http://wdcep.com/neighborhood/minnesota-benning . The MAMS initiative is a program of the Washington Area Community Investment Fund (Wacif) [More]

Files Attached Document
Wacif is Hiring in Washington, DC! Program Manager: Minnesota Avenue Main Street

Loan Guarantee Product

Tue, 2019-06-04 01:02
From : Communities>>Open Forum
Colleagues: Our organization serves small business owners who are primarily located in some of Alaska’s most rural, remote communities. Access to capital markets is difficult. We are exploring a Loan Guarantee concept that proposes to remove some barriers to financing for borrowers seeking capital for growth strategies. In this network of (fabulous) practitioners, I pose the following questions: •. What considerations should an entity include in its due diligence to develop the product? • Are there [More]

RE: Updated panel for Forecasting Growth for CDFIs - OFN Small Business Forum

Mon, 2019-06-03 16:47
From : Communities>>Open Forum
Would be interested in a session like this at the October conference as well! ------------------------------ Jenny Rottmann Director of Finance and Administration Genesis Fund Brunswick ME (207) 844-2035 ------------------------------

RE: Character based lending guidelines

Mon, 2019-06-03 14:44
From : Communities>>Open Forum
Hi Jason, Yes, essentially cash flow based lending. We are trying to avoid having a co-signer but the applicant will be required to participate in pre-application education as well as post loan TA. Thsnks​ ------------------------------ Kathleen Clark Alternatives Federal Credit Union Ithaca NY ------------------------------

RE: Challenges in Collecting loan covenants from small business clients

Mon, 2019-06-03 13:56
From : Communities>>Open Forum
Thank you all for the robust discussion and ideas!  @Jason Friedman please add me caprice@spruceroot.org  to your growing list of future webinar attendees on this topic!  ​​ ------------------------------ Caprice Pratt Small Business Lending Outreach / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

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