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RE: Data Collection with Surveying Tools

Fri, 2019-11-15 10:03
From : Communities>>Open Forum
Hi Samuel, A year or so ago, Reinvestment Fund evaluated a number of online survey services, including Survey Monkey, for collecting our outputs and outcomes data from borrowers and ended up with a subscription to Qualtrics. We found that Qualtrics was by far the most fully-featured, flexible option for our purposes. It might or might not be more than you need: our projects tend to be somewhat complicated, with one transaction potentially having multiple borrowers, financial notes, addresses, and/or [More]

RE: UCC Filings

Thu, 2019-11-14 13:42
From : Communities>>Open Forum
Thanks everyone, your input has been very helpful! We're going to start deciding on a loan by loan basis if we feel the lien will be worth it, instead of just automatically doing it every time. ------------------------------ Ryan Schupp Portfolio Specialist Westminster Economic Development Initiative, Inc. (WEDI) Buffalo NY rschupp@wedibuffalo.org ------------------------------

Business Development position

Thu, 2019-11-14 12:33
From : Communities>>Open Forum
We are looking to hire a Business Developer for our non-profit charter school facility development company New Plan Learning in Schaumburg, IL. Please contact me if interested, Regards, ------------------------------ Bek Amankulov Business Manager New Plan Learning, Inc bek@newplanlearning.org Phone:847-376-8404 ext(206) www.newplanlearning.org ------------------------------

Data Collection with Surveying Tools

Thu, 2019-11-14 10:20
From : Communities>>Open Forum
We are exploring using an on-line surveying tool to collect impact data from our borrowers. Currently, we are sending our borrowers an excel file to fill out and send back to us. We are looking into using something like Question Pro or Survey Monkey to streamline the process and hopefully make it easier on our borrowers. Has anyone used any of these types of platforms? What was your experience? Is there one that you particularly like? ------------------------------ Samuel Morgan-Jablonski Compliance [More]

RE: UCC Filings

Thu, 2019-11-14 09:54
From : Communities>>Open Forum
Hi Ryan, First, the standard disclaimer: I'm not offering legal advice. You should consult with local counsel before making a decision. That said... I think there are two questions to consider: 1) what is the likely potential recovery from selling the assets subject to the lien, and 2) is there any psychological value to obtaining the lien? As to the first question, if the debtor has no assets for which there is a ready market, then the lien won't help from a recovery standpoint. Such [More]

RE: UCC Filings

Thu, 2019-11-14 09:30
From : Communities>>Open Forum
Is it a question of the time or the cost? Do you pass that cost on to the client at closing? Sometimes having that lien (even if you do not think you will act on it) is a source of leverage because the borrower is made aware that they could lose all of their equipment, etc. if they defaulted and technically keeps them from selling off assets and pocketing the funds. ------------------------------ Paul Schmitt Credit Manager CommunityWorks Carolina Greenville SC (864) 235-6331 ------------------- [More]

RE: UCC Filings

Thu, 2019-11-14 09:21
From : Communities>>Open Forum
Hi Ryan, We also file UCCs but we pass the recording and satisfaction fees on to the borrower. Theoretically, the filing is to prevent the borrower from selling off the asset(s) but actually recovering an asset, based on a UCC filing, can be costly and may not result in the desired outcome. If we were paying for it, filing a UCC would probably not be worth it for us. Since the borrower is paying, it helps (sometimes) to remind them that you have a lien against their assets. Chris Hudock | Director [More]

RE: UCC Filings

Thu, 2019-11-14 09:13
From : Communities>>Open Forum
I am interested to hear what others say.   My organization does file UCC "all assets" blanket liens on just about every loan we make without specific collateral, but we've never really discussed what benefit that brings.  I'm not aware that we've really weighed our recovery against the time cost.  That said, we do collect the filing fee and release fee as closing costs from the client, so our cost is time and paperwork. (Which is likely pretty steep in the aggregate.) les ------------------------------ [More]

An Exciting Career Development Opportunity for CDFI Women - apply now!

Wed, 2019-11-13 13:51
From : Communities>>Open Forum
We are happy to announce that the application period is now open for the next cohort of the Landit for CDFI Women program! We are thrilled to continue our partnership with Landit , an innovative technology platform that creates a personalized playbook for those seeking to successfully own and navigate their career path. With generous support from Morgan Stanley, OFN will offer this powerful professional development opportunity to a third cohort of CDFI women. Landit for CDFI Women is designed to [More]

UCC Filings

Wed, 2019-11-13 13:36
From : Communities>>Open Forum
Hi everyone, We've been having a discussion here about if UCC Filings are necessary for our loans when there is no specific collateral. We're a microlender with an average loan amount of $7,800, and the majority of UCC Filings are the standard "all of debtor's assets". Since we have to pay to file the UCC and remove it at the end of a loan, and since it adds more time and paperwork for us, we're talking about just scrapping UCC Filings unless there is a specific piece of collateral. Does anyone else [More]

Auto Loans to Immigrants without drivers licenses

Mon, 2019-11-11 10:46
From : Communities>>Open Forum
Has any CDFI provided auto loans to immigrants who do not have drivers licenses? I realize this is problematic, but this type of lending is happening in the predatory lending space. Thanks for any insights or examples. -- Patricia Sterner CU Strategic Planning 535 Dock Street, Suite 209 | Tacoma, WA 98402 phone 253.200.0418 creditunionstrategicplanning.com | Facebook | Twitter

2020 Oweesta Capital Access Convening - Call for Proposals

Fri, 2019-11-08 12:24
From : Communities>>Open Forum
Submit a Session Proposal for the 2020 Native CDFI Capital Access Convening (June 23-25, 2020 - Portland, Oregon)   Play a part in our 2019 Native CDFI Capital Access Convening!   It's that time again to submit ideas for the 2020 Native CDFI Capital Access Convening! Oweesta's annual Native CDFI Capital Access Convening is a national event that brings Native CDFIs, Native American Financial Institutions, partners, practitioners, funders, investors, and bankers together for training and networking [More]

2019 OFN Conference Session Materials Available

Fri, 2019-11-08 10:20
From : Communities>>Open Forum
Hi Everyone, Session materials from the 2019 OFN Conference have been uploaded on CDFI Connect.  You can view all session materials and plenary videos in the OFN Resource Library . A few of the more popular sessions and plenary videos are: President Bill Clinton Keynote Address OFN's President and CEO, Lisa Mensah, Keynote Address Closing Plenary with Noel Poyo, Robin Danner, and Martin Eakes Democratizing Finance: Where Have We Come? Diversity, Equity and Inclusion: Benefits, Insights, and [More]

RE: SEO and Search Marketing for CDFIs - Would training or resources be helpful?

Thu, 2019-11-07 16:55
From : Communities>>Open Forum
Hi All, Thanks to everyone who has responded to the survey. I appreciate it.  I've connected with a few CDFIs directly and think I have a good path forward to start this series.  For the first training, I'll plan to do a brief introduction to SEO and then share real-time how I would diagnose and address a few common SEO and ranking challenges. I'm going to meet with a CDFI who has volunteered to be a guinea pig and go over some of their objectives/challenges and build a presentation around that. [More]

RE: Copywriters or Creative Agencies that write for CDFI's?

Wed, 2019-11-06 18:07
From : Communities>>Open Forum
Caitlin McShane is with EMC Strategies, which handles Opportunity Fund's PR and strategic marketing with excellent results. Before that, Caitlin was in-house at Opportunity Fund for nearly 10 years, where she honed some of the best impact writing and storytelling abilities in the industry. Highly recommend.  Caitlin McShane ------------------------------ Eric Weaver Founder Opportunity Fund San Jose CA 408-297-0204 Founder ------------------------------

RE: Copywriters or Creative Agencies that write for CDFI's?

Wed, 2019-11-06 17:32
From : Communities>>Open Forum
check out emcstrategies.com and you can contact Caitlin McShane < caitlin@emcstrategies.com >. They are very familiar with CDFIs. Yuliya Tarasava | Co-Founder & COO e: yuliya@mycnote.com p: 203.583.5154 Invest in people, not products. Learn More

2019 OFN Conference Reflection

Wed, 2019-11-06 12:12
From : Communities>>Open Forum
Hi Everyone, It was wonderful seeing many of you recently at the OFN Conference.  I want to give a special THANK YOU to OFN, for organizing an amazing event!  I am also providing a link to my reflections post-conference, entitled " 2019 OFN Conference: CDFI Work Matters ".   Looking forward to the next one!  Cheers, Lily ------------------------------ Lily Leavitt Community Development Practice Lead Craftsman Technology Group Boston MA lily@craftsmantech.com 857 289-2472 ------------------------ [More]

RE: Investment Note Survey and Meetups

Wed, 2019-11-06 11:03
From : Communities>>Open Forum
Hi Elizabeth!  I am interested in receiving the summary findings.  Please email the summary to dawn@sccommunityloanfund.org. Thank you! ------------------------------ Dawn C. Deck Investments and Grants Manager South Carolina Community Loan Fund Upstate Office 160 E. St. John Street, Ste 376, Spartanburg, SC 29306 p. 864-278-8299 l f. 843.277.9133 ------------------------------

RE: Copywriters or Creative Agencies that write for CDFI's?

Wed, 2019-11-06 10:18
From : Communities>>Open Forum
I HIGHLY recommend Pixelspoke. https://www.pixelspoke.com Certified B Corporation, Best for the World 2017, 2018, 2019 ​ ------------------------------ Jamie (Chase) Strayer Founder CU Strategic Planning jamie@creditunionstrategicplanning.com (253) 200-0418 ------------------------------

First Niagara CDFI Loan Fund Investments

Wed, 2019-11-06 09:28
From : Communities>>Open Forum
KeyBank, through it's acquisition of First Niagara, is requiring full repayment of our investment from First Niagara. I'm wondering what other CDFI loan funds this is happening to. I'm compiling a list for KeyBank National Advisory Board meeting next week. Please reply or reach out to me directly at LindaM@mycommunityloanfund.org I'm interested in dollar amounts and repayment terms. ------------------------------ Linda MacFarlane Executive Director Community Loan Fund of the Capital Region Albany [More]

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