CDFI Connect Community Discussions

Subscribe to CDFI Connect Community Discussions feed CDFI Connect Community Discussions
View RSS Feed from Opportunity Finance Network
Updated: 21 min 39 sec ago

RE: Express Loan Product

Mon, 2019-12-30 11:27
From : Communities>>Open Forum
@Jamie Strayer ​ ------------------------------ Crystal Martin Executive Assistant CU Strategic Planning Tacoma WA 253-200-0418 ------------------------------

FUND YOUR BUSINESS IN 3-5 DAYS. NO UFRONT COST,NO COLLATERAL

Mon, 2019-12-30 03:51
From : Communities>>Open Forum
FUND YOUR BUSINESS IN 3-5 DAYS. we match exactly your ideal loan option to up to $250,000 non collateral, non recourse,low credit ok. NO UPFRONT COST. personal loan. personal line of credit business lines of credit. cooperate business funding. FUND YOUR DREAM; Bitcoin and forex trading,investments, advertising,your own business,real estate projects. JOIN FREE,GET FUNDED,PUT MONEY TO WORK. USA,CANADA,AUSTRALIA ONLY   https://creditstarfunding.com/ index.php?s=29461 US, US TERRITORIES, [More]

Parent to CDFI Lending

Fri, 2019-12-27 17:46
From : Communities>>Open Forum
Can a parent CDC nonprofit borrow from a related (subsidiary) nonprofit CDFI?  How are conflict of interest and arms length transaction concerns perceived and real addressed? Thank you for your input. ------------------------------ Julie Honekamp Honekamp@snapwa.org 5093193000 ------------------------------

RE: Express Loan Product

Tue, 2019-12-24 15:44
From : Communities>>Open Forum
I would like to participate in the call, as well.​ ------------------------------ Beth Buchanan Loan Officer Karuk Community Loan Fund, Inc. ------------------------------

RE: Secured Contract Financing

Mon, 2019-12-23 09:34
From : Communities>>Open Forum
Greetings Joshua, We have a product specifically geared toward this type of scenario. We have the awarding party sign an "assignment" stating at the same time the business is paid we receive our monthly payment. Once the loan is paid off we will no longer receive any payments, regardless of the term on the contract. Our assignments are good for 12 months and we don't lend more than 20K on a contract loan. I hope this helps. Sincerely, Tonita McKnight Business Development Officer Albany Community [More]

RE: Express Loan Product

Mon, 2019-12-23 09:16
From : Communities>>Open Forum
I would be interested in joining the call as well. Thanks, Paul Paul Featheringill l Loan Officer 2 Race Street Charleston, SC 29403 o: 843.724.7449 f: 843.789.3391 www.charlestonldc.org paul@charlestonldc.org

RE: Strategies for Expanding Black Business Growth

Fri, 2019-12-20 14:56
From : Communities>>Open Forum
Thank you so much for sharing this, Daniel! We run a minority incubator program in Pittsburgh, so we are quite aware of the issues black entrepreneurs face when trying to get funding. I have shared your study with many people in the hopes of garnering some attention for this issue.  THANK YOU! ------------------------------ Trish Digliodo President, Paramount Co-Op Trish@PaParamount.com (o) 724.385.0862 (c) 412.370.1190 ------------------------------

financial support of the company.we

Fri, 2019-12-20 10:40
From : Communities>>Open Forum
the company will support childrent orphant   through fees, and widows should get  the job in  acommunity. ------------------------------ isaac oketch selling Wath Orango Enterprise kisumu +254705661130 ------------------------------

financial support of the company.

Fri, 2019-12-20 10:32
From : Communities>>Open Forum
irequesting financial support of the  bilding company .lack of financial to buy land so that  to bild it . ------------------------------ isaac oketch selling Wath Orango Enterprise kisumu +254705661130 ------------------------------

Files Attached Document
financial support of the company.

RE: Loan Service Software Recommendations

Fri, 2019-12-20 10:02
From : Communities>>Open Forum
Hi Bee. You might want to have a look at The Exceptional Assistant - TEA as was noted on an earlier list. The key elements you are looking for can be accommodated in 1 place. Web site will add more info - www.commongoals.com. Or contact me directly to arrange a demo ------------------------------ Paul Hodgert Training Specialist CommonGoals Software 613 340 3366 ------------------------------

RE: Express Loan Product

Fri, 2019-12-20 09:16
From : Communities>>Open Forum
I'd also like to join the call.  Please send along the call in info when you have it.  Thanks, Dawn ------------------------------ Dawn Seckler Associate Director of Development Bridgeway Capital, Inc. Pittsburgh PA (412) 201-2450 ------------------------------

RE: Express Loan Product

Thu, 2019-12-19 15:23
From : Communities>>Open Forum
Hi, what is the minimum credit score for this quick loan product? ------------------------------ Watchen Bruce President and CEO Baltimore Community Lending, Inc. Gwynn Oak MD 4434531312 ------------------------------

RE: Loan Service Software Recommendations

Thu, 2019-12-19 12:32
From : Communities>>Open Forum
@Amy Collins I have added your suggestions to my list. I really appreciate you taking the time to review!  ​ @Bee Vang ​ I have not done the analysis at this point to understand what software provides what. Sounds like Amy might be a good option. Thanks BJS ------------------------------ Brian Sample Asset Management Vice President Mercy Loan Fund Denver CO (303) 830-3300 ------------------------------

RE: CDFI microloan interest rate comparison

Thu, 2019-12-19 12:11
From : Communities>>Open Forum
Interestingly enough, we have been having discussions with bank investors who are now asking what our interest rates are to the end borrowers. They are beginning to fear reputionable risk if CDFIs/mission lenders are charging rates that appear to be too high. This is great  topic for discussion at the Small Business Finance Forum. ------------------------------ Robert Villarreal President Bankers Small Business CDC of California San Diego CA (619) 243-8652 ------------------------------

RE: Loan Service Software Recommendations

Thu, 2019-12-19 10:39
From : Communities>>Open Forum
@Brian Sample , this is a great list. I would add Microloan Management Services (MMS) created by Liftfund and LoanWell (www.loanwell.com). I've worked in MMS for about eight years now, across three CDFIs. LoanWell is new to the market so I haven't seen it in operation yet, but the team behind it is incredible and I'm quite excited to see what it can do (if anyone would like an intro, let me know). One of my clients is currently in the process of switching to LoanWell and expecting to go live in January.  [More]

RE: Strategies for Expanding Black Business Growth

Thu, 2019-12-19 10:38
From : Communities>>Open Forum
Daniel, Thanks so much for sharing this insightful report!  It's a great resource! Best, Aaron ------------------------------ Aaron Duffy Vice President CU Strategic Planning Tacoma WA (423) 963-6589 ------------------------------

RE: Loan Service Software Recommendations

Thu, 2019-12-19 09:47
From : Communities>>Open Forum
Hi Brian, Thank you for sharing your list. Which of these provide loan origination, underwriting and closing documents? We are a CDFI that provides micro lending, small business loans and SBA 7a Community Advantage loans. Currently, we are using Downhome Loan for servicing and an in-house process for the other three steps. Any suggestions you have for handling the three steps for efficiency and scaling up volume? TIA! Bee ------------------------------ Bee Vang Deputy Director of Lending Neighborhood [More]

RE: Express Loan Product

Thu, 2019-12-19 09:37
From : Communities>>Open Forum
We would be very interested in having this conversation as well and appreciate the opportunity to do so if one is put in place. ------------------------------ Karen Maciorowski Vice President and CFO Community Economic Development Fund Foundation, Inc. Meriden CT (203) 235-2333 x2080 kmaciorowski@cedf.com ------------------------------

RE: Express Loan Product

Thu, 2019-12-19 09:31
From : Communities>>Open Forum
I'd like to join the call too! Thanks for doing this. ------------------------------ Rick Proctor Executive Director Business Ownership Initiative (BOI) Indianapolis IN (317) 464-2229 ------------------------------

RE: CDFI microloan interest rate comparison

Wed, 2019-12-18 19:22
From : Communities>>Open Forum
Ruben -   A study of CDFI financing  commissioned by the CDFI Fund found that the median interest rate in 2012 for a CDFI-originated business loan with a 48-month term was 7.75%. However, growth-oriented CDFIs we work with tend to develop a risk-based pricing model to acknowledge the need to balance sustainability with mission.  For example, small business loans from Accion East carry an interest rate from 8.99% to 15.99%, with an average of 12.99%  Thanks.  ------------------------------ Jason Friedman [More]

Pages