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LLR to ALLL relationship

Mon, 2020-12-28 07:26
From : Communities>>Open Forum
With the pandemic impact to our SBA portfolio and our small business borrowers, we have increased our LLR. With the logic of increasing LLR to cover losses, should the LLR be at least equal to or greater than the ALLL? I would think that these should be in sync. Attached has two simplified scenarios Repayment of a loan - no write off Repayment of a loan - with write off Thanks for your help in enhancing my understanding. Regards, Tim Mobile (908) 251-2847 tim_jung@aafe.org https://www.aafe.org/

Files Attached Document
LLR to ALLL relationship Attachments

SBS loans and timing of funding the LLR

Mon, 2020-12-28 07:19
From : Communities>>Open Forum
Being relatively new to SBA ending, the reporting of loan activity to SBS is quarterly with monthly bank statements attached. From what the lending head tells me, once we lend the SBS funds to a borrower, the LLR has to be established in the same month as the lending. Her reasoning is that SBS requires that the loan and LLR have to appear on the same month's bank statement. This requirement, if accurate, would prevent lending to occur near the end of a given month due to internal operational processes [More]

Historic Funding for CDFIs in FY2021 Omnibus Appropriations and COVID-19 Relief Bill

Wed, 2020-12-23 16:18
From : Communities>>Open Forum
Dear Colleagues, OFN released a blogpost yesterday that highlights key CDFI-related provisions in the FY2021 Omnibus Appropriations and COVID-19 Relief Bill. We've also included page numbers for where you can find this information. Please feel free to let us know if you have any questions and thank you for your advocacy! Jamal Jamal Habibi Senior Associate, Public Policy Opportunity Finance Network  Mobile 215.219.7243 jhabibi@ofn.org | www.ofn.org #FinanceJustice  ------------------------------ [More]

CRA resources

Mon, 2020-12-21 12:01
From : Communities>>Open Forum
Hi: There have been some questions about CRA resources. I would like to offer NCRC's website resources: Main website: https://www.ncrc.org/ Update on OCC Final Rule and Fed ANPR: https://www.ncrc.org/treasureCRA/ NCRC provides regular CRA resources for members including CRA 101 webinars, data analysis and more....see our website for infromation. Happy Holidays. Josh Silver Senior Advisor NCRC Josh Silver Senior Advisor, Policy National Community Reinvestment Coalition 202.464.2733 202.628.9800 [More]

Final COVID-19 Relief Package

Mon, 2020-12-21 11:53
From : Communities>>Open Forum
Dear Colleagues - yesterday, House Speaker Nancy Pelosi issued a Dear Colleague letter that included highlights for the package, including significant funds for CDFIs and the continuation of the Paycheck Protection Program (PPP) with the CDFI/MDI set aside. "Community Development Financial Institutions and Minority Depository Institutions: The agreement includes dedicated PPP set-asides for very small businesses and lending through community-based lenders like Community Development Financial Institutions [More]

Files Attached Document
Final COVID-19 Relief Package

RE: Member Monday

Mon, 2020-12-21 10:41
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Guadalupe Centers Federal Credit Union. The Guadalupe Centers started by establishing a volunteer school and clinic in 1919 for underprivileged Mexican Immigrants. Their primary mission is to provide their local Kansas City communities with financial products and education to empower them and to ensure economic opportunity for all. For more information visit: https://www.guadalupefcu.com/ ------------------------------ Elizabeth [More]

RE: New CDFI Looking to Understand CRA

Fri, 2020-12-18 14:21
From : Communities>>Open Forum
Hi John, the FDIC put out a good publication on this topic - it'a a little dated (2014) but the principles largely remain the same. It's written for the bank perspective - how can community banks partner with CDFIs, but I think it's helpful for both audiences. I was not involved in writing or reviewing it - I've just used it as a reference. Good luck on your certification!  Here's a link to the FDIC page where it lives: https://www.fdic.gov/consumers/community/cdfi/index.html and here's a link [More]

Files Attached Document
RE: New CDFI Looking to Understand CRA

RE: Sharing Underwriting Capacity with Community Partners

Thu, 2020-12-17 09:15
From : Communities>>Open Forum
Hi Josh, My firm, The Olea Group, provides third-party underwriting services to CDFIs across the country. I'd be happy to provide whatever insight I can. Warmly, Amy Collins Founder & CEO | The Olea Group (312) 620-4616 | www.theoleagroup.com

RE: New CDFI Looking to Understand CRA

Wed, 2020-12-16 18:23
From : Communities>>Open Forum
Hi, John.  I just sent you an email.  I'm a former CRA officer of a $40 billion bank and directed a lot of loans and investments to CDFIs and continue to see ways to help the industry.  Be glad to chat. ------------------------------ David Fehrenbacher Director - Financial Institutions Horne, LLP Memphis TN 901.623.8130 ------------------------------

Sharing Underwriting Capacity with Community Partners

Wed, 2020-12-16 15:17
From : Communities>>Open Forum
Hello, We're in a conversation with a local agency that is looking to outsource some of their underwriting needs to us as they focus on other aspects of their burgeoning lending program.  We like the idea and want to be supportive and I'd welcome a conversation with anyone that has gone down this path so we can learn from their experience.  Feel free to respond to this thread or call or email me directly. Cheers, Josh Josh Sattely, Community Housing & Nonprofit Lender    New Hampshire Community [More]

RE: Revenue recognition of FA awards from CDFI

Mon, 2020-12-14 14:54
From : Communities>>Open Forum
Hi Pam.  At Enterprise Community Loan Fund, we record the entire grants as restricted, but not conditional.  I think the Fund's saying that they will record disbursements as expenses refers to their treatment of the grants as unconditional.  I don't think the timing affects the treatment.  Thanks. ------------------------------ Karen Mitchell Senior Director, Creative Capital Enterprise Community Columbia, Maryland 410-772-2590 ------------------------------

RE: Member Monday

Mon, 2020-12-14 13:04
From : Communities>>Open Forum
In this week's Member Monday , we will highlight the work of Ascendus. Ascendus is a nonprofit small business lender working to create economic opportunity by providing entrepreneurs with access to the capital and the business support they need to create and grow healthy enterprises and contribute to thriving local economies. Over $11.7 million in capital has been disbursed to 1,108 small businesses in 2020. Ascendus granted Tiffany Diaz, of South Bronx, a PPP loan and additional funding to her daycare [More]

Future of Paycheck Protection Program

Mon, 2020-12-14 12:12
From : Communities>>Open Forum
On December 10, the Senate Small Business Committee conducted a hearing on the future of the Paycheck Protection Program. OFN was honored to be invited to testify. Dafina Williams, SVP public policy, shared the CDFI perspective with the Committee and answered the Senator's questions with eloquence and skill. A full copy of the OFN testimony may be found here.  OFN continues to advocate for support for CDFIs in the ongoing negotiations about COVID relief legislation. In addition to supporting an extension [More]

RE: New CDFI Looking to Understand CRA

Mon, 2020-12-14 09:23
From : Communities>>Open Forum
Hi John,  I would recommend reaching out to Jonathan Brereton of Revolve Capital and EBA Fund . He has a wealth of knowledge in this area.  Good luck! ------------------------------ Amy Collins Founder & CEO | The Olea Group 312-620-4616 | www.theoleagroup.com ------------------------------

RE: CDFI Fund Expands Target Market Eligibility for Payroll Protection Program Lending

Fri, 2020-12-11 12:54
From : Communities>>Open Forum
Hi Ingrid - great question, but we won't know until the Guidance Memo comes out.  Hurry up and wait, right? ------------------------------ Jason Friedman CEO Friedman Associates (319) 341-3556 jasonj@friedmanassociates.net www.friedmanassociates.net ------------------------------

RE: CDFI Fund Expands Target Market Eligibility for Payroll Protection Program Lending

Fri, 2020-12-11 10:53
From : Communities>>Open Forum
It is good news. One question comes to mind:  even though all geographies will be the target market for PPP loans, do we know if geographical data will still be required when submitting the annual CDFI TLR report?    ------------------------------ Ingrid Sander CFO Mountain BizWorks Asheville NC (828) 253-2834 ------------------------------

RE: CDFI Fund Expands Target Market Eligibility for Payroll Protection Program Lending

Fri, 2020-12-11 10:50
From : Communities>>Open Forum
It is good news. One question comes to mind: even though all geographies will be the target market for PPP loans, do we know if geographical data will still be required when submitting the annual CDFI TLR report? -- Ingrid Sander , Chief Financial Officer, ingrid@mountainbizworks.org 153 S Lexington Ave, Asheville, NC 28801 Ph. Office: 828.253.2834 ext. 11 Mountain BizWorks I www.mountainbizworks.org Helping small businesses start, thrive, and grow since 1989. COVID-19 Update: Mountain BizWorks [More]

RE: CDFI Fund Expands Target Market Eligibility for Payroll Protection Program Lending

Fri, 2020-12-11 09:45
From : Communities>>Open Forum
Agree!! Brett Doney 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, and learning opportunities (recorded and live) to [More]

New CDFI Looking to Understand CRA

Fri, 2020-12-11 09:09
From : Communities>>Open Forum
Hi everyone, We have an application pending to have our fund certified as a CDFI. One of the things we are interested in learning about is how we can raise funds with banks to the benefit of their CRA requirements. If anyone has good resources on this, or may be willing to hop on the phone for 15 minutes to discuss, it would be immensely helpful! John Harrison York jyork@hatchwayventures.com

Native CDFIs and Continue Resilience During Pandemic Times -- Journal Article

Thu, 2020-12-10 11:33
From : Communities>>Open Forum
My article, "Native CDFIs and Continue Resilience: Short-Term Responses with Long-Term Impacts in Pandemic Times," was published this week. It highlights the Native CDFI industry, their active resilience during the COVID-19 pandemic, and how they created opportunities that will exist far beyond pandemic times. It showcases several Native CDFIs' work during the pandemic as well as detailed case studies from Hawaiian Community Assets, Council for Native Hawaiian Advancement, Homestead Community Development [More]

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