CDFI Connect Community Discussions

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CDFI eligibility for PPP

Tue, 2021-01-12 10:55
From : Communities>>Open Forum
Were CDFI's that engage in lending activities for the creation of low-income housing ever deemed eligible for PPP financing? I can't seem to locate a definitive answer. Sent from Mail for Windows 10

PayNet - Business Credit Scores

Mon, 2021-01-11 12:18
From : Communities>>Open Forum
Good Afternoon! Our organization is looking into using PayNet for its Business Credit Score/Report services.  I'm looking for any kind of feedback from those who have or are currently using PayNet. Thanks! ------------------------------ Rachel Thomas Northern Initiatives Marquette, Michigan rthomas@northerninitiatives.org ------------------------------

RE: Member Monday

Mon, 2021-01-11 10:54
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Virginia Community Capital. Virginia Community Capital  has created The Capital Region Small Business Development Center to help start or grow your business with expert advise and free resources. Since 2016, Virginia Community Capital has invested $334.1 M to 20,485 clients with 1,057 new businesses started.  VCC also offers extensive webinar series including: First steps to starting a business, Cybersecurity Essentials, Government [More]

NeighborWorks Umpqua CFO Retained Search

Sat, 2021-01-09 20:13
From : Communities>>Open Forum
Our Client - NeighborWorks Umpqua in Roseburg, OR has recently established a CDFI to its already formidable rural affordable housing and community development organization. Please feel free to let us know of anyone in your sphere of influence or network who has high-level CDFI, bank/lending and/or affordable housing/community development financial leadership experience. We appreciate any guidance or advice you can provide. Best regards, Tracy McMillan Managing Partner HCGA Consulting Partners Fairfield, [More]

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NeighborWorks Umpqua CFO Retained Search

RE: CDFI Funding in COVID Relief

Fri, 2021-01-08 17:21
From : Communities>>Open Forum
Jamal, Thank you for your response. The OFN blogpost is helpful.  I'll be on the lookout for more information to come. ------------------------------ Belinda Turner-DuBois CEED Lending Program Manager Loan Officer CEED Lending-Great Lakes WBC Livonia MI Great Lakes Women's Business Council ------------------------------

RE: Salary range - Loan Program Director for small CDFI

Fri, 2021-01-08 11:54
From : Communities>>Open Forum
Hi Lesli, In my experience recruiting for CDFIs over the past 25 years, such positions for this size of organization in a midrange cost of living location usually have a salary somewhere between $75k and $100k at this stage of organizational development.  I would be glad to talk if you have other questions. ------------------------------ David Erickson-Pearson Principal Erickson-Pearson Search Highlands Ranch CO 303.703.6165 epdavid@earthlink.net ------------------------------

African American Owned Education Technology Company is looking for assistance or partnership.

Fri, 2021-01-08 11:52
From : Communities>>Open Forum
African American Owned Education Technology Company is looking for assistance or partnership. D. Harold Greene is the owner of WorkshopsGo!, a 20 year old African American owned national and international Education Technology Training non-profit organization founded and incorporated in March, 2003. We offer over 300 - ONLINE streaming, computer, DVD and smart phone 'community focused' Master Trainer Certification workshop video's and PDF's to certify educators to teach workforce readiness skills, [More]

RE: CDFI Funding in COVID Relief

Fri, 2021-01-08 10:36
From : Communities>>Open Forum
Dear Colleagues: You've heard that $3 billion will be available for CDFIs. Of that, $1.25 billion is earmarked for rapid deployment to help communities respond to the economic hardships created by the pandemic. The CDFI Fund has named it the CDFI Rapid Response Program (RRP) and has until February 25, 2021 to publish the funding notice for this new program.  Here's the deal: Certified CDFIs with no outstanding compliance issues will get an award under this grant; the problem is we don't know [More]

RE: CDFI Funding in COVID Relief

Fri, 2021-01-08 10:22
From : Communities>>Open Forum
Hi All, Jamal here from OFN's Public Policy Team. Although this doesn't answer your question regarding how funds will be allocated, please see our blogpost that highlights all of the CDFI-related funding in the recent Omnibus and Stimulus package. We do not have specific guidance from the Fund yet but here is what I know. The $1.75 billion is available "until expended" as opposed to the $1.25 billion which must be committed by September 2021. The legislative language, which can be found on page 907 [More]

RE: CDFI Funding in COVID Relief

Fri, 2021-01-08 09:03
From : Communities>>Open Forum
Hi Gilberto, We are curious as well for more information regarding COVID 19 Rapid Recovery Resources. ------------------------------ Belinda Turner-DuBois CEED Lending Program Manager CEED Lending-Great Lakes WBC Livonia MI Great Lakes Women's Business Council ------------------------------

RE: CDFI Funding in COVID Relief

Thu, 2021-01-07 15:15
From : Communities>>Open Forum
Hi Gilberto, I have the same question. Thanks for asking. Stay Safe Belinda Turner-DuBois CEED Lending Program Manager bdubois@miceed.org 248 460-3973 Direct Oakland County and City of Detroit Loan Officer CEED Lending An Initiative of Great Lakes Women's Business Council 33109 Schoolcraft Rd. | Livonia, MI 48150 www.CEEDLending.org

Salary range - Loan Program Director for small CDFI

Thu, 2021-01-07 10:40
From : Communities>>Open Forum
Hello everyone, and Happy New Year! Growth Partners Arizona is getting ready to hire its first loan program director. We are a small ($2.5 million in assets) and relatively new CDFI in Tucson, funding approximately 6-10 new loans per year. Our goal for this year is 18 new loans. This new person will take on the responsibility of business development, underwriting, working with our documentation contractor to close loans, and monitoring the portfolio. This person will also work closely with me on [More]

Establishing a Revolving Loan Fund

Thu, 2021-01-07 02:18
From : Communities>>Open Forum
We are looking to establish a revolving loan fund for the development of our affordable home ownership projects. I am looking for a consultant to help us develop our pitch deck. Isi anyone willing to share your deck? Can you recommend a consultant? thank you Vivian Cox Fraser President & CEO Urban League of Essex County 973-624-9535

CDFI Funding in COVID Relief

Wed, 2021-01-06 15:50
From : Communities>>Open Forum
Hi Folks, Do folks have insights (besides Director Harris message) on how the $3B, specifically the $1.75b in RRP funding will be allocated in the coming months? Thanks for any help. Gilberto Opportunity Fund Gilberto Soria Mendoza Senior Policy Advocate | Accion Opportunity Fund gmendoza@opportunityfund.org | Tel. 408.538.8171 opportunityfund.org | facebook.com/opportunityfund | twitter.com/opportunityfund

RE: SBS loans and timing of funding the LLR

Wed, 2021-01-06 13:44
From : Communities>>Open Forum
Tim,  Like Trena, we are required to pre-fund the LLR prior to drawing down funds. After initial deployment and the fund is revolving, the timing for us is quarterly.  We do run a deployment summary at the first of each month, so that we know how much SBA capital is available to close loans. It includes repayments to MRF, 115% Collateral requirement, and 15% LLR requirement. This way we can project closing dates without risking falling below either requirement. ------------------------------ Philip [More]

Post-business failure pathways?

Wed, 2021-01-06 12:54
From : Communities>>Open Forum
Hello friends and colleagues, As you may know, I cover economics for Next City, an online magazine focusing on urban affairs across the country, with an emphasis on racial, social and environmental justice. With up to half of Black-owned businesses already shutting down at least temporarily if not permanently as an unfortunate side effect from this pandemic, I am looking into a potential story about what happens next for these entrepreneurs. I was wondering if any small business lenders would be [More]

CDFI Capital Needs Survey for Impact Investor Report

Tue, 2021-01-05 13:16
From : Communities>>Open Forum
Happy New Year, CDFI collegues! I hope you have all had a restful Holiday. As posted before the break, we are collecting data for a CDFI capital needs report. Thank you to all who have already responded. As the visbility of CDFIs continues to increase, CNote is working to leverage that momentum and help keep impact investors updated on the evolving capital needs of CDFIs.  If you have 5 minutes, please share your responses with us. It is crucial in helping impact investors truly understand what [More]

RE: Tip Tuesday

Tue, 2021-01-05 11:10
From : Communities>>Open Forum
Happy Holidays and New Year! Wishing everyone a happy & healthy 2021! In this week's Tip Tuesday , we will show you how to utilize the Participate drop-down bar. The drop-down allows users to start a discussion, share a file or join a community with ease! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Southwest DC (202) 618-6100 ------------------------------

RE: Does your loan fund offer investment opportunities for individuals?

Mon, 2021-01-04 16:41
From : Communities>>Open Forum
Yes, Capital for Change accepts investments from individuals.

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