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RE: Re-Opening Loan Program - Adjustments?

Tue, 2020-09-22 09:14
From : Communities>>Open Forum
Josh Brenner----do you utilize DocMagic or CalyxPoint for the zero percent intererest loan documents/disclosures?  Hitting a little snag right now and trying to find other users of these third parties.  Thanks, Lora ------------------------------ Lora Baldracchi NMLS Loan Originator #719004Loan Fund Director Worcester Community Housing Resources, Inc. Worcester MA 508.799.0322 ------------------------------

COVID-19 impacts on Native businesses, economies, and CDFIs

Mon, 2020-09-21 15:10
From : Communities>>Open Forum
Please check out this new publication by some of our partners and friends of the Mountain/Plains Regional Native CDFI Coalition.  We were please to assist with research and data analysis for The State of the Region: COVID-19 Initial Impacts on Native Businesses, Economies, and Native CDFIs . Michael ------------------------------ Michael Brydge Sweet Grass Consulting Fort Collins CO 540-448-1826 ------------------------------

Files Attached Document
COVID-19 impacts on Native businesses, economies, and CDFIs

RE: Member Monday

Mon, 2020-09-21 13:38
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Lake Superior Community Development Corp. LSCDC is a Native CDFI serving the State of Michigan. The first mortgage brokers licensed in the state of Michigan, has made over 50 loans to Native owned homes, improvements and small businesses. Through its membership with the Federal Home Loan Bank of Indianapolis, the Lake Superior Community Development Corp was able to secure an Elevate Grant for Traditional Treasures, a Native-American [More]

RE: Dashboards

Mon, 2020-09-21 13:20
From : Communities>>Open Forum
Jenny,  This sample is really helpful as I continue to explore our options. I appreciate you sharing! ------------------------------ Teri Smith Community Loan Fund Director CASA of Oregon Sherwood, OR (503) 687-3316 ------------------------------

Foundations and Impact Capital

Mon, 2020-09-21 12:26
From : Communities>>Open Forum
For OFN members:  "Foundations & Impact Capital" is the theme of the award-winning GreenMoney Journal's Sept 2020 issue. The articles & videos include: •  Equitable Local Economies through Action and Investment by Sydney England of LOCUS Impact Investing •  Sustainable Investments Foundations are Making for People & the Planet by Christen Graham of Giving Strong •  Asset Building for Immigrant Communities through Homeownership by Laura Altomare of Homewise •  Become an Impact Venture Capitalist Using [More]

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Foundations and Impact Capital

RE: Dashboards

Mon, 2020-09-21 09:56
From : Communities>>Open Forum
Yes just send me an email at jenny@genesisfund.org. ------------------------------ Jenny Rottmann Deputy Director / CFO Genesis Fund, Inc. Brunswick ME (207) 844-2035 ------------------------------

RE: Re-Opening Loan Program - Adjustments?

Mon, 2020-09-21 09:53
From : Communities>>Open Forum
Hi Josh, We created a 5% interest Economic Recovery microloan that mainly follows our normal underwriting but allows for a reduction in revenue due to the pandemic. We did not go to 0% interest loans or grants, but we did offer technical assistance to businesses in our service area (whether loan clients or not) who wanted assistance applying for PPP loans. With the 6-months of SBA payments on microloans ending, it will be informative to see which businesses need additional assistance. Thanks, Amy [More]

RE: Dashboards

Mon, 2020-09-21 09:40
From : Communities>>Open Forum
Jenny Thank you so much for sharing! What an awesome report. This gives me a lot of ideas. Do you happen to have an excel version without your original links that you'd be willing to share?  ------------------------------ Monica Blanton Financial Reporting and Compliance BrightBridge, Inc Chattanooga TN 423-424-4220 ------------------------------

Native CDFI Network Summit Tuesday-Thursday this week!

Mon, 2020-09-21 09:39
From : Communities>>Open Forum
2nd Annual Policy & Capacity Building Summit This Week!   It's here, the 2nd Annual Native CDFI Network's Policy & Capacity Building Summit opens this week! The event will be held virtually for the first time this year, taking place September 22 – 24, from 1:00 P.M. to 2:30 P.M. EST.   Attendees will hear from Professor Marshall Ganz on Tuesday, Representative Deb Haaland on Wednesday, Dr. Sarah Kastelic on Thursday, participate in breakout rooms specific to their region, and so much more. Be sure [More]

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Native CDFI Network Summit Tuesday-Thursday this week!

Re-Opening Loan Program - Adjustments?

Fri, 2020-09-18 13:54
From : Communities>>Open Forum
Hi everyone, After shutting down our loan program in response to COVID-19 and focusing on our 0% interest loans and grants, our organization is gearing up to re-open our regular program.  I am curious if other CDFI's have returned to their old process for lending and if so have you made any adjustments? We are looking to make some additions to our loan application to consider how clients responded to the crisis. What other types of questions are other CDFI's considering when analyzing a new applicant?  [More]

RE: Dashboards

Fri, 2020-09-18 09:34
From : Communities>>Open Forum
Teri, This is the Dashboard I created for our staff and board to accompany our monthly financials, created in Excel. I pull data out of our loan and investment software (TEA) and some data points off our Balance Sheet and P&L, and then dumped into Excel with pivot tables and charts it is pretty easy to update and manage. This reports on all our policies and performance targets, as well as other points of interest. Feel free to contact me if you have any questions about it, Jenny ------------------------------ [More]

Files Attached Document
RE: Dashboards

New National Strategy for Financial Literacy from the Financial Literacy and Education Commission

Fri, 2020-09-18 09:21
From : Communities>>Open Forum
The U.S. Department of the Treasury released the National Strategy 2020 on behalf of the Financial Literacy and Education Commission (FLEC). The National Strategy details the federal government's financial literacy priorities and underscores its plan to collaborate with state, local, and tribal governments and the private sector to strengthen financial capability for all Americans. Building Americans' financial skills is essential to enabling a dynamic economy and to encouraging individuals to [More]

RE: Dashboards

Thu, 2020-09-17 15:34
From : Communities>>Open Forum
Hi Teri -  I could not agree more with Jason's comments. High Impact has developed an interactive dashboards tool allows CDFIs to seamlessly integrate data from multiple sources to  generate custom reports.  Automated analytics and graphics provide concise, actionable insights. You can view a sample dashboard package for CDFIs at High Impact's website: http://www.highimpactanalysis.com/portfolio-analytics.html ------------------------------ Gregory Mikulka Director // Consulting (510) 502-3699 [More]

RE: Dashboards

Thu, 2020-09-17 09:16
From : Communities>>Open Forum
Hey Teri, Let me know if you need help on gathering better data. In addition to exporting realtime data, we can connect with both Salesforce and Google Sheets. It's pretty simple to create, measure and quickly improve any process if you're wanting to zero in on some specific KPIs. Best, David ------------------------------ David Taliaferro Co-Founder / CEO l Lenderfit 502.640.2365 l www.lenderfit.io ------------------------------

Registration now open for OFN's 2020 Virtual Conference!

Wed, 2020-09-16 16:36
From : Communities>>Open Forum
Fall is here and with it comes the CDFI industry's most anticipated event-OFN's Annual Conference. This year, to keep everyone safe, the Conference is virtual, offering a wonderful opportunity for more attendees and broader audience participation. Don't miss it-register today! With the theme of Finance Justice, this inspiring, four-day event will engage public and private sector thought leaders with CDFIs and our supporters in critical dialogue about today's most pressing issues. Learn how the post-election [More]

RE: Member Monday

Wed, 2020-09-16 14:16
From : Communities>>Open Forum
Thank you OFN for helping to spread the word about our work. We are proud to provide COVID-19 relief grants to small businesses in Oakland, California! This program represents only one of our many partnerships in the San Francisco Bay Area, and we look forward to sharing more good news about forthcoming deployments with other partners in our region. Working Solutions is honored to be an OFN member and in the company of this amazing network of CDFIs supporting businesses and communities across the [More]

RE: Dashboards

Wed, 2020-09-16 11:57
From : Communities>>Open Forum
Hi Teri - for what it's worth, I don't know how a performance-driven CDFI could operate effectively without one. The board and LRC don't need 20 pages of charts and tables, devoid of context. However, a dashboard is fairly meaningless if the organization does not have board-approved KPIs and metrics, and other key data points relevant to a CDFI (tracking CDFI AAT ratios, for example). Through the use of data visualizations, dashboards simplify complex data sets to provide staff, the loan committee [More]

RE: Use of vendors for PPP Forgiveness

Tue, 2020-09-15 15:46
From : Communities>>Open Forum
Hilda Hello,  I hope you are doing well.  The California Community Economic Development Association (CCEDA)  has engaged a number of consultants to provide technical assistance to small businesses and nonprofit organizations to secure PPP loan forgiveness.  They held a CCEDA sponsored webinar on the subject and are now available to provide direct assistance.  Such assistance is available on an hourly or on a contract basis, and I would be happy to introduce you to them. ------------------------------ [More]

Dashboards

Tue, 2020-09-15 15:03
From : Communities>>Open Forum
Are any of you using dashboards for presentation of your loan fund performance/data to your respective boards of directors and others? We're looking at different ways to present our data in a snapshot with enhanced visibility for interested parties.  While considering this, I'm also wondering if any of you who do commercial real estate loans use dashboards for borrower performance? ------------------------------ Teri Smith Community Loan Fund Director CASA of Oregon Sherwood, OR (503) 687-3316 - [More]

RE: Use of vendors for PPP Forgiveness

Tue, 2020-09-15 13:20
From : Communities>>Open Forum
Hilda, we have made the decision to use CRF out of Minnesota. our contact is: Michelle Page Vice President Loan Servicing ▪ Community Reinvestment Fund, USA 801 Nicollet Mall, Suite 1700W ▪ Minneapolis, MN 55402 612.248.8043 ▪  Mpage@crfusa.com ▪ www.crfusa.com       ------------------------------ Michael Carper Chief Credit Officer Community First Fund Lancaster PA (717) 869-5447 ------------------------------

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