CDFI Connect Community Discussions

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Updated: 38 min 17 sec ago

CBA Funding Opportunity

Tue, 2019-07-23 16:16
From : Communities>>Open Forum
Hi OFN Community! I wanted to make sure you knew about a new opportunity through Credit Builders Alliance's emerging CDFI intermediary CBA Fund.  CBA Fund is providing loan capital and small operating grants to nonprofits interested in adding a new consumer loan to their portfolio or expanding/improving an existing consumer loan. In addition, if you are not currently reporting to the major credit bureaus but offer consumer loans (or plan to), CBA has stipends to cover the set-up cost of CBA Reporter [More]

Consultants

Tue, 2019-07-23 10:40
From : Communities>>Open Forum
Hello! We are interested in engaging a consulting company in services to improve our institutional capacity in terms of lending, fundraising and marketing over a 1-year period. If your CDFI has worked with any stellar organizations who provide affordable services that you recommend, please let us know!   Additionally, do you work with Salesforce? Or another CRM software? Were you trained on how to use it? We're also interested in hearing about any relevant professional development or skills building [More]

RE: Interview Questions for Loan Officer/Lending Relations

Mon, 2019-07-22 10:07
From : Communities>>Open Forum
Here is a set of questions we used for a recent LO hire. Good luck! ------------------------------ Jenny Rottmann Director of Finance and Administration Genesis Fund Brunswick ME (207) 844-2035 ------------------------------

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RE: Interview Questions for Loan Officer/Lending Relations

RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Fri, 2019-07-19 13:25
From : Communities>>Open Forum
Gary, We also were recently required by our state regulator to implement a BSA/ AML policy. We paid a consultant ($350- $400, I think) to draft one for us. We are still in the implementation phase giving LOs and counselors more specific red flags to escalate to management. A little complicated here as we also serve borrowers who do not have a valid SSN, but an ITIN instead. Happy to share, but prefer to do it off line as some of what we bought can't be distributed. ------------------------------ [More]

RE: Succession Planning

Fri, 2019-07-19 13:22
From : Communities>>Open Forum
There are great templates and other guidance for succession planning in this toolkit.  I have used these tools many times with clients. Good luck to you in developing a useful succession plan. As many CDFI leaders have told me the key to a good succession plan is to revisit it annually and update it as time passes. ------------------------------ Adina Abramowitz President Consulting for Change Philadelphia PA 215-247-1544 ------------------------------

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RE: Succession Planning

RE: Succession Planning

Fri, 2019-07-19 11:31
From : Communities>>Open Forum
@Paula Jensen What a great response time with such helpful information. Way to support your fellow CDFIs! ​ ------------------------------ Caprice Pratt Small Business Lending Outreach / Underwriter Spruce Root, Inc., Southeast Alaska ------------------------------

RE: Tracking and Reporting Metrics

Fri, 2019-07-19 09:41
From : Communities>>Open Forum
Hi Becka,  It's amazing that Arkansas Capital Corporation is prioritizing this! I may be able to help. I am a CDFI consultant with nearly a decade of experience in the industry, and I specialize in data analytics. I focus on turning chaos into clarity so that leaders have the  actionable insight needed to maximize their CDFI's success. M y training is in  analytical design, statistical techniques, data mining, and data visualization. Although I've never used Implan before, I could likely pull interesting [More]

RE: Succession Planning

Thu, 2019-07-18 10:06
From : Communities>>Open Forum
Sheila I hope these help Paula Jensen Dakota Resources ------------------------------ Paula Jensen VP of Advancement Dakota Resources Sioux Falls SD ------------------------------

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RE: Succession Planning

RE: Strategic Planning RFP

Thu, 2019-07-18 00:27
From : Communities>>Open Forum
I'd love to help.  We do quite a bit of strategic planning and I'd be happy to share our standard proposal process and pitch decks so that you can reverse engineer the process for vetting a consultant.  I'm know this post is from April, so I'm hoping you might have already solved this challenge :) FYI, we use a lot of strategic planning materials from Gazelles.  It's a great starting point if you're not already familiar with the Scaling Up resources:  https://gazelles.com/ ------------------------------ [More]

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RE: Strategic Planning RFP

RE: Tracking and Reporting Metrics

Thu, 2019-07-18 00:20
From : Communities>>Open Forum
Hi Becka! We love jumping into the report design and data analysis process.  We are normally asked to focus on customer acquisition and marketing focused activities.  We haven't worked with Implan before so that might be a small hurdle.  Here are a few articles I wrote that might help as well. ------------------------------ Paul Bresenden President 454 Creative Irvine CA 9492991120 ------------------------------

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RE: Tracking and Reporting Metrics

Succession Planning

Wed, 2019-07-17 11:13
From : Communities>>Open Forum
Greetings All, We are in the process of developing a Succession Plan, I was hoping our CDFI family might be able to share there template with us. We would greatly appreciate any assistance. TIWA LENDING SERVICES Herr Kam! (Thank you), Sheila Herrera Executive Director Office (505) 916-0556 Fax # (505) 869-7596

RE: CDFI Capital Magnet Fund questions

Wed, 2019-07-17 10:23
From : Communities>>Open Forum
Hi Emily - great questions.  Submitting a service request will have no bearing on the scoring of your application.  I have attached some resources for you, including our project eligibility checklist, a description of our AMIS workbook, which replaces and improves upon the one the Fund eliminated, and a link to the webinar we conducted on CMF.  In our experience in obtaining CMF awards for our clients, two things are a must: (1) at least 3 and preferably 5 years experience in undertaking projects [More]

Files Attached Document
RE: CDFI Capital Magnet Fund questions

CDFI Capital Magnet Fund questions

Wed, 2019-07-17 09:23
From : Communities>>Open Forum
Hi there everyone, I hope this is an appropriate place to post this. We are a newly-certified CDFI with a great deal of established connections in our community. We want to use those connections along with our own resources to bring true meaningful change to areas experiencing distress. Specifically, we believe we can achieve this through the Capital Magnet Fund. The challenge is, we (myself and my colleague, a financial analyst) don't have much experience applying for grants. We are both extremely [More]

Interview Questions for Loan Officer/Lending Relations

Tue, 2019-07-16 14:34
From : Communities>>Open Forum
Hello Forum! We are super excited to be hiring a Lending Relations Manager aka Loan Officer and we would love to know if you have some great questions to ask candidates. Thanks in advance for sharing! Sincerely, Heather Heather Gurewitz Executive Director Economic Development & Financing Corp 208 B. South Oak St. Ukiah, CA 95482 (707) 234-5705 http://www.edfc.org

RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Tue, 2019-07-16 13:24
From : Communities>>Open Forum
good afternoon, We have created a Red Flags Policy and have had to incorporate BSA/AML policy.  I am willing to chat and see how I can be helpful.  Please feel free to reach out to me directly. Cydney ------------------------------ Cydney Dodge Chief Administrative Officer New Hampshire Community Loan Fund Concord NH (603) 224-6669 Chief Administrative OfficerChief Administrative Officer ------------------------------

RE: Webinar: Is Your Project Eligible for CMF Funding?

Tue, 2019-07-16 12:44
From : Communities>>Open Forum
Hi Jason, is this webinar available to be viewed online? Thank you! ------------------------------ Emily Olsen Administrative Assistant to the VP of Accounting and Finance University of Michigan Credit Union Ann Arbor MI 734-662-8200 ------------------------------

RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Tue, 2019-07-16 10:46
From : Communities>>Open Forum
Thank you for your response. I would love to see a copy. Gary Anderson Lending Manager ( 509) 456-SNAP x4122 500 S. Stone | Spokane, WA snapwa.org

RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Tue, 2019-07-16 09:58
From : Communities>>Open Forum
We adopted a red flags policy several years ago.  Happy to send you a copy.  Bank secrecy is a new one on me. ------------------------------ Kim Jacobs President/CEO Community Capital New York Elmsford, NY 914 747 8020 ------------------------------

Files Attached Document
RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Tracking and Reporting Metrics

Tue, 2019-07-16 09:55
From : Communities>>Open Forum
Greetings All - We are trying to come up with new ways to track and report metrics to our board, the CDFI Fund and to the communities we serve and wanted to see if any OFN Members work with any third parties that provide these services.   What we are looking for is someone who can take an in-depth look at our total portfolio and analyze it for reporting purposes and who can also look at individual projects, probably using Implan software, to make sure we are financing the most impactful projects.  [More]

RE: Red Flag Warnings and Bank Secrecy Act/Anti-Money Laundering Policy

Tue, 2019-07-16 09:48
From : Communities>>Open Forum
Hi Gary, We've helped several CDFIs create policies that mimic the Red Flag Warnings and BSA/AML items. You can get a lot of legal opinions on this (as with any item involving legal advice), and I'm not a lawyer, but I don't think claiming or trying to actually meet the regulatory burden is in your best interest. Claiming and showing you have policies that mimic those regulations where applicable can be helpful when working with banks though. There has been increased pressure for banks to monitor [More]

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