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Updated: 46 min 44 sec ago

RE: Technical Assistance / Business Services

Wed, 2020-07-15 11:50
From : Communities>>Open Forum
Hey Les! As we speak with lenders around the country, we're seeing a need for custom technical assistance that is regionally relevant with the ebb and flow of COVID related openings, closings, and restrictions. In times of relative stability, there are typically a few basic starting points that work with any client. Lenders are now having to create educational workflows around "re-opening" and "leveraging e-commerce." Assistance with major business pivots seems to be more relevant at this point in [More]

Powering Us Forward, Together with Renewable Energy (GMJ - July 20)

Wed, 2020-07-15 08:55
From : Communities>>Open Forum
For OFN members - The new "Renewable Energy: Powering Us Forward, Together" issue from  GreenMoney  is now online. The July 2020 articles include: • The Outlook for Renewable Energy by Lydia Miller of Dana Investments;  • Catalytic Capital for Renewable Energy by Leah Thibault of CEI;  • Renewable Energy in Real Estate: Data Centers Lead the Way by Sam Adams, VERT Asset Mgmt;  and  • Bending the Temperature Change Curve by Dr. Pooja Kholsa of Entelligent. Also • Suzanne Fallender of Intel talks about [More]

RE: CDFI Client Credit Exposures - Allowance for Loan and Lease Losses

Tue, 2020-07-14 17:03
From : Communities>>Open Forum
What you are saying is sensible. Basically treat all credit risk assessments in the same manner as what a commercial bank would do. appreciate your input and stay safe. Regards, Tim Mobile (908) 251-2847 tim_jung@aafe.org https://www.aafe.org/

2020 Small Business Finance Forum – Event Website Now Available!

Tue, 2020-07-14 15:33
From : Communities>>Open Forum
Our 2020 Small Business Finance Forum  event website  is now available! On June 16 and 17, OFN held its ninth annual-but first-ever virtual-Small Business Finance Forum for more than 800 mission-driven lenders, partners, and other advocates. Our largest Forum to date, this year's event focused on ensuring a shared recovery for financially under-served small businesses across America impacted by the COVID-19 pandemic, economic decline, and persistent racial inequality. If you missed the Forum or there's [More]

RE: Long Term Remote Work

Tue, 2020-07-14 13:28
From : Communities>>Open Forum
We had a formal work remote (WR) policy in place almost two years prior to COVID.  Our WR policy was the result of our Good Jobs Good Business  work.  We wanted to walk the talk we were having with SBOs.  PCV already had the components of a "Good Job" in place but we wondered what else we might be able to do.  In the Bay area, commuting is brutal so we looked at ways to address this.   In the last two years prior to COVID, every staff member had 5 days/month they could schedule as a WR day(s).  In [More]

RE: Long Term Remote Work

Tue, 2020-07-14 12:41
From : Communities>>Open Forum
Ours was fairly seamless as well. We are thinking about expanding staff at some point. Curious to hear about work stations, we offered a 100 reimbursement for a second screen, but didn't provide docking stations etc.. How are you handling that going forward? Cydney Cydney Dodge, Chief Administrative Officer New Hampshire Community Loan Fund 7 Wall Street, Concord, NH 03301 Direct: (603) 224-6669 ext. 703 | Toll-free: (800) 432-4110 Fax: (603) 415-6598 www.communityloanfund.org Follow [More]

RE: Tip Tuesday

Tue, 2020-07-14 10:55
From : Communities>>Open Forum
In this week's Tip Tuesday , we will show you how to best utilize the search function! ------------------------------ Elizabeth Specht Member Engagement Associate Opportunity Finance Network Washington (202) 618-6100 ------------------------------

Files Attached Document
RE: Tip Tuesday

RE: CDFI Client Credit Exposures - Allowance for Loan and Lease Losses

Tue, 2020-07-14 10:41
From : Communities>>Open Forum
I think in these times I am sure you have you present loan loss calculation using some components of Cecil So looking at the formula is a good start  % works based on collateral so revising or changing the % would increase your loan loss amount  Examples:   Commercial Real-estate look like is dropping so increasing a % would add to your loan loss.                     Unsecured same increase the % etc.  Looking at a five year average of losses could be reduced to 3 year average on historical Review [More]

Technical Assistance / Business Services

Tue, 2020-07-14 10:24
From : Communities>>Open Forum
Hi all, I work at the Mountain Association for Community Economic Development , a CDFI which serves small businesses & nonprofits in Appalachian Kentucky. We have four main programs: energy, community development, small business/nonprofit lending & business support/technical assistance.   Over the last several years, we have seen an increase in demand for technical assistance from loan clients & non-loan clients, and we want to be strategic as we develop the program. We thought it would be [More]

RE: CDFI Client Credit Exposures - Allowance for Loan and Lease Losses

Tue, 2020-07-14 09:35
From : Communities>>Open Forum
Tim- initially what we were seeing was CDFIs making sure risk ratings on the commercial and CRE portfolios were accurate based upon either direct knowledge or inferred impact depending on the industry and geographic location.  Second, almost every CDFIs provided payment relief for 60 to 90 days.  We are reaching the end of that horizon where blanket relief was provided.  No CDFI we partner with has a loss history anywhere close to what is needed for an ALLL to be based solely model outputs.   I am [More]

RE: Member Monday

Mon, 2020-07-13 12:13
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight Grameen America and their Economic Relief & Recovery Fund.   Grameen America's was founded in Queens, NY, in 2008 to help entrepreneurial women, who live in poverty build businesses to enable financial mobility. Their goal is to raise $72 million for their clients who have been deeply affected by the health crisis. The loans will be interest-free, zero digital repayment cost with loan extensions up to six months. If you would like to [More]

RE: CDFI Client Credit Exposures - Allowance for Loan and Lease Losses

Mon, 2020-07-13 10:49
From : Communities>>Open Forum
Hi Tim, In my mind, taking a certain arbitrary percentage of the loan portfolio (5% for example; or assigning arbitrary percentages to each risk rating) to evaluate potential credit loss wouldn't be meaningful given the level of uncertainty. It would be necessary to take a look at the data in the loan portfolio and use what we extract from the data in calculating ALLL and provisions for loan losses, etc. through rigorous statistical analysis and simulations quarterly or annually. What and how you [More]

RE: Long Term Remote Work

Mon, 2020-07-13 10:32
From : Communities>>Open Forum
Our transition to remote work was fairly seamless, as our staff already had laptops and we offer a monthly cell phone stipend.  We have VoIP office phones (internet phones) so calls can be answered on laptops.  We were already using Skype for virtual meetings, but added Teams to the mix.  Some of our staff is still working 100% remote and a small percentage is coming in on assigned days (M/W or T/TH).  We did not need to purchase any additional office equipment/technology for staff.  We do reimburse [More]

Native CDFI Network Hiring!

Mon, 2020-07-13 10:30
From : Communities>>Open Forum
The Native CDFI Network seeks a highly qualified and motivated operations associate to be based in our Washington, D.C. office. Responsibilities include basic bookkeeping, event support, database management, and general office support. Full job description and qualifications on our website. To apply please send a resume and cover letter by July 31 to Jackson Brossy at jbrossy@nativecdfi.net or P.O. Box 77206, Washington, D.C. 20013. https://nativecdfi.net/ncn-is-hiring/ ------------------------------ [More]

Files Attached Document
Native CDFI Network Hiring!

NY Women in Businesses - Reboot for the New Normal

Mon, 2020-07-13 09:33
From : Communities>>Open Forum
http://events.r20.constantcontact.com/register/event?oeidk=a07eh591ao86be50c79&llr=7bofavbab Yanki Tshering, Executive Director Business Center for New Americans 120 Broadway, Suite 230 NY, NY 10271 212 898-4112 phone 646 723-1399 fax www.nybcna.org www.nybcna.org business loans, homeownership, & savings

RE: DEI Goals

Fri, 2020-07-10 17:57
From : Communities>>Open Forum
Sharon: My colleague Ronaldo Hardy, Chief Diversity Officer, wrote a whitepaper, The   ROI of DEI. It includes measurable goals, the means of measuring and calculations.   The full white paper:  https://www.creditunionstrategicplanning.com/diversity-inclusion   Article in CU Times this week:  https://www.cutimes.com/2020/03/09/the-roi-of-dei/ I hope this is helpful! Best, ------------------------------ Jamie (Chase) Strayer Founder CU Strategic Planning jamie@creditunionstrategicplanning.com (253) [More]

CDFI Client Credit Exposures - Allowance for Loan and Lease Losses

Fri, 2020-07-10 10:07
From : Communities>>Open Forum
With all of the market stress that our client base faces, what are some actions CDFI are taking to evaluate the credit exposures and assessing reserves? ------------------------------ Tim Jung CFO Asian Americans for Equality Community Development Fund New York NY 9082512847 ------------------------------

Research on program evaluation and impact measurement

Thu, 2020-07-09 11:38
From : Communities>>Open Forum
Last December there was a conference call hosted by OFN, CNote, and Carolina Small Business Development Fund about CDFI research and program evaluation. In response to some of the issues on that call,  we started a project to gain a better understanding of how CDFIs engage in program evaluation and impact measurement  (including why there is often a lack of congruence between funder needs and CDFI activities). This research will allow us to gain more insight into the processes and barriers faced [More]

DEI Goals

Thu, 2020-07-09 11:18
From : Communities>>Open Forum
We have been asked to add an organizational goal for 2021 regarding DEI. This would be a measured goal added to other organizational goals which up and determine the CU Annual Bonus Plan. I know the obvious measurement would be using EEO percentages, but this is not the only indicator for DEI. I am curious if any others have a DEI Goal for your organization. If so, do you mind sharing what determinants you have defined for this goal? Thanks for your input! Sharon Sharon Williams, [More]

RE: Long Term Remote Work

Thu, 2020-07-09 10:15
From : Communities>>Open Forum
We have a small staff and, as a Native CDFI, we must adhere to strict tribal regulations regarding distancing, office visits, etc. In our office, each employee is assigned a "duty day" when they are expected to be in the office to handle calls, usher in clients (now by appointment only), and deal with anything that would normally be a "walk-in" situation. They are otherwise free to work from home or from the office, depending on where they feel most productive.  Employees are expected to forward [More]

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