CDFI Connect Community Discussions

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Updated: 25 min 26 sec ago

RE: Underwriting software

Thu, 2021-03-11 12:38
From : Communities>>Open Forum
Hi CDFI Colleagues We are a CDFI offering small business and real estate loans.  We are currently using Lending Front for our small business loan fund but we are looking for an end-to-end application for both small business and real estate loan funds.  Any suggestions?  Lending Front does not do Real Estate.  We need an end-to-end software from CRM, application, underwriting, documentation and servicing if possible.  Most systems we have evaluated have some but cannot integrate with other software.  [More]

RE: Underwriting software

Thu, 2021-03-11 12:21
From : Communities>>Open Forum
Thank you! I will visit the website today. I appreciate your response. Regard, Sandie Cataldo Manager of Economic Development North Central MA Development Corporation 860 South Street, Fitchburg MA 01420 978-353-7607 x 232 www.choosenorthcentral.com

Bill.com

Thu, 2021-03-11 11:36
From : Communities>>Open Forum
Good day! I am working with a small CDFI trying to streamline its transactions and is considering bill.com . Has anyone had experience using that platform for both organizational expenses and receiving loan payments? Wondering how it interfaces with DownHome or other loan management systems. Thanks for any insight you can offer. Marianne Vermeer marianne@vermeerconsulting.com 804-300-0826 www.vermeerconsulting.com

RE: Underwriting software

Thu, 2021-03-11 11:17
From : Communities>>Open Forum
Hi Sandie,  We use Lenderfit . It supports custom product applications, underwriting forms, loan doc creation, automated email/text reminders, and is easy to use and mobile friendly on the client side. Plus data collected through Lenderfit waterfalls into DownHome for servicing. Let me know if you'd like an intro! Vanessa ------------------------------ Vanessa Koenigsmark Senior Associate Access Ventures Louisville KY vanessa@accessventures.org ------------------------------

RE: Online payments system for Donations

Thu, 2021-03-11 09:21
From : Communities>>Open Forum
Hi IF you are a 501 (c) (3) nonprofit organization, visit www.techsoup.org and register for free. There are MANY programs that are zero to little expense that do a good job for what you are looking for and articles and webinars on the topic to educate yourself. If using PayPal - try PayPalFlowPro to allow better security and flexibility of reporting and taking in different type of revenues or multiple campaigns. If you have a profile on www.guidstar.org (and if you don't, register and build your [More]

RE: Underwriting software

Wed, 2021-03-10 19:49
From : Communities>>Open Forum
Hi Sandie.  CAMEO supports lenders to access LendingFront, an end-to-end platform.  Please contact me if you would like more information. ------------------------------ Susan Brown CAMEO Microlending Specialist Business and Community Development Susan Brown Consulting 530-925-2530 ------------------------------

Consultant recommendation

Wed, 2021-03-10 17:35
From : Communities>>Open Forum
CSFD is looking to hire a consultant to help CSFD formalize its loan policies or prepare loan documents. Can you please recommend one? ------------------------------ Kairat Mavlyankulov CFO Higher Logics Community Contacts (CDFI CONNECT - DO NOT DELETE) Schaumburg IL 847-376-8944 ------------------------------

Spot the Landmines in the Rapid Response Application?

Wed, 2021-03-10 15:41
From : Communities>>Open Forum
Dear Colleagues - the RRP is a simple and thoughtful application (kudos to the CDFI Fund staff).  But Amy Szabo, our Chief Client Services Officer offers some useful advice on how to navigate (or live with) some potential landmines: 1.  Lending used to satisfy RRP PG&Ms may not be double counted to satisfy FA PG&Ms This will primarily impact projections for organizations that have chosen  Objective 1-1: Increase Volume of Financial Products. We suggest that you decrease your projected deployment [More]

Why are so many CDFIs NOT applying for the FA award?

Wed, 2021-03-10 13:17
From : Communities>>Open Forum
Dear Colleagues - it's true. Many smaller CDFIs are opting out of applying for the FA. From the conversations we have had with EDs of small shops, the primary reason is low deployment in 2020. Many smaller CDFIs did not get the call from local government and community foundations to distribute grants and/or zero or low-interest loans, and did not enroll in the PPP program. So, deployment suffered, thereby reducing their competitiveness for the FA. Through the RRP, however, these shops will automatically [More]

Online payments system for Donations

Wed, 2021-03-10 13:03
From : Communities>>Open Forum
Hello All, Does anyone have any suggestions about what to use as an online payments system for taking in donations? I know of PayPal, but I was wondering if there was anything else people were using that might be better. We don't have a large volume and we're mainly concerned about the accessibility for our donors. Thank you for any advice in advance. ------------------------------ Kyo Tang Treasury FA Housing Trust Silicon Valley 75 E. Santa Clara St, Ste 1350 ca 408-703-3837 ext.233 ---------- [More]

RE: Underwriting software

Wed, 2021-03-10 09:20
From : Communities>>Open Forum
Good Morning, Thank you. I have heard of Ventures and will visit the website for more info. Regards, Sandie C Sent from Mail for Windows 10

RE: Underwriting software

Wed, 2021-03-10 09:07
From : Communities>>Open Forum
We have enjoyed using the Ventures software.  Let me know if you want the contact info. ------------------------------ Michael Maguire COO Catalyst Community Capital Tampa FL (813) 319-3931 ------------------------------

Underwriting software

Tue, 2021-03-09 08:59
From : Communities>>Open Forum
Hello, Any recommendations on underwriting software for small business loans? We are a CDFI, provide SBA microloans and are also Community Advantage lenders. We are using Downhome Solution but need the underwriting software. We appreciate suggestions. Sandie Cataldo NCM Development Corporation

RE: Member Monday

Mon, 2021-03-08 13:24
From : Communities>>Open Forum
In this week's Member Monday , we would like to highlight the work of Thread Capital. Thread Capital was launched in 2018 by NC Rural Center and provides small business loans up to $50,000 to traditionally underserved entrepreneurs in all 100 North Carolina counties. Thread Capital helps business navigate the complexity of the marketplace by working one-on-one with small business owners to identify and provide connections to optimal financing, networking and coaching resources. Glenn Snow, a Charlotte [More]

Webinar: Take Your CDFI Fund FA Application From Good to Great!

Mon, 2021-03-08 12:04
From : Communities>>Open Forum
Webinar: Take Your CDFI Fund FA Application From Good to Great! This webinar occurs several times. Please register for the date and time that works best for you. Register now! Wednesday , March 10th at 1:30 pm Central Thursday , March 11th at 1:30 pm Central What is the difference between good CDFI Fund FA application and a great one? Answer: a great application demonstrates a complete understanding of a CDFI's financial health. We designed a tool for our clients [More]

RE: Consultant Fee

Fri, 2021-03-05 10:22
From : Communities>>Open Forum
This is also a violation of the Association of Fundraising Professionals (AFP) code of ethics that prohibits finder's fees or percentage compensation. I encourage CDFIs to seek grant writers and other fund development professionals that are members of AFP and therefore pledge to uphold the code of ethics. https://afpglobal.org/ethicsmain/code-ethical-standards ------------------------------ Sarah Greenberg Principal Consultant Forward Community Investments Milwaukee WI greenbergstrategies@gmail.com [More]

RE: Consultant Fee

Thu, 2021-03-04 18:31
From : Communities>>Open Forum
Thank you for sharing, Sanjiv. This is prohibited. We must all protect the integrity of the CDFI Fund and our CDFI's from predators that seek to siphon money from the communities that need the resources. ------------------------------ Jamie (Chase) Strayer Founder CU Strategic Planning jamie@creditunionstrategicplanning.com (253) 200-0418 ------------------------------

Consultant Fee

Wed, 2021-03-03 14:17
From : Communities>>Open Forum
I Echo the sentiment about paying a "success fee." I spoke to a consultant and he wanted 5 percent. After doing some research, I came to conclusion that I was getting taken for a ride. PLEASE, PLEASE be aware!

Tomorrow - Just in Time Webinars on the CDFI Fund Rapid Response Program

Wed, 2021-03-03 12:14
From : Communities>>Open Forum
Dear Colleagues - Friedman Associates is a leading CDFI consulting services firm, supporting hundreds of mission-based lenders. We have scheduled two 'just in time' webinar webinars tomorrow to brief you on the RRP application. If you are applying for the CDFI FA, as well, there are implications for how the two tie together. Also, we will demonstrate a tool we developed for our clients to help you simplify and speed up the preparation of these applications - with 100% accuracy and error free! [More]

RE: FOX News/CNN Headline Making RRP Solicitation

Wed, 2021-03-03 10:21
From : Communities>>Open Forum
I'm so glad you posted about this. I think most of us know this but for those who might be newer to the industry, unless something has changed or a new organization has emerged, I am not aware of any ethical fundraising professionals organizations that encourage compensation for fundraising on a percentage basis. I listed just two examples below that I pulled from https://conservationtools.org/guides/99-commission-based-compensation-for-fundraising#:~:text=According%20to%20The%20Association%20of,finder's%20fee%20is%20defined%20as%20%E2%80%9C [More]

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