Thank you for joining us today. We will begin our program shortly.

Hello all. Kristine here from the NY Small Business Funder Collective. :)

Here's the link to session 1:

https://assetfunders.org/resource/building-capacity-of-cdfis-to-support-entrepreneurs-of-color-session-1/

Learn more about AFN:

https://assetfunders.org/

Learn more about our speakers:

https://assetfunders.org/wp-content/uploads/032922-CDFIs-Part-2-Speaker-Bios.pdf

Learn more about CDFIs:

https://assetfunders.org/wp-content/uploads/CDFI-Fact-Sheet.pdf

Hello Everyone, My name is Leonard and I'm located in the San Francisco, CA. Thanks for changing the time.. lol !!.. If there's any questions which you may have regarding to depository accounts / lending. I enjoy assisting small business / financial literacy and participating in workshops. Feel free to send me an email @ leonard.cunningham@wellsfargo.com

CDFIs are critical to supporting equitable development in underserved markets. We're committed to having 10x impact through embedding racial equity in our ecosystem. Would love to keep the conversation going post-session. Feel free to connect with me via LinkedIn: https://www.linkedin.com/in/mikelangleyaz

Thanks Hope for bringing up MDIs. They are often overlooked and need our support. If you get the chance, would love to hear more about how we can support MDIs if it’s different from supporting CDFIs. Thanks

+1

That has been the obstacle quite frankly. i.e. The confusion around sources/uses.

AFN has another program in the works on Community Development Credit Unions and MDIs both from a policy and capacity framework. We look forward to having you all join us to keep that conversation gong.

Great! Thanks Leah.

CDFI located tool can help you locate CDFIs: https://www.ofn.org/cdfi-locator/

CDFI Locator tool: https://www.ofn.org/cdfi-locator/

Leah Mayor - Thank you for sharing this viable information.

Can you share that link?

To confirm this was funded through SSBCI dollars?

https://www.tax.ny.gov/about/scsp/

Thanks!

There is more information on the CDFI Fact Sheet:

https://assetfunders.org/wp-content/uploads/CDFI-Fact-Sheet.pdf

After today's program we will follow-up with all mentioned resources and a video recording of today's conversation.

BOC also helped smaller CDFIs to implement policy. Great org!

Thanks Kristen for lifting that up and asking the question that way! No shame in needing subsidy to do mission-driven work. In fact it’s the only way and we should be proud of every dollar CDFIs spend on the work and operations that get those dollars out!

Thanks Beth for that explanation. We are attempting to charter a FCU & it seem no one understands the "donated" capital aspect of getting equity to leverage deposits (member & non member).

Thanks, Kristen for that follow-up. It's important for us to hear what we have learned and identified policy gaps moving forward.

If you have questions for the speakers, please share them in the chat!

Thanks, Mark, the need for transparency and need to expose ease of predatory lending came up in our last conversation as well especially as it raises the importance of CDFIs in this space

Feel free to direct any questions to me, or to everyone and we will work to field them as best we can.

Mark - you make a great point about responsible capital. In SC we have no interest rate caps and predatory lending is out of control with some rates as high as 999%. We have legislators on both sides of the aisle who have no interest in reform, even though there's currently discussion around capping at 36%. I'm wondering if the federal legislation will have any impact at the state level?

I just wanted to flag a webinar later this week, Thursday at 11am ET, to walk through an impact evaluation on the New York Forward Loan Fund, in case any of your New York members are interested in joining!https://teams.microsoft.com/registration/kmbXgkqKPUufJlyfNEzp6Q,r9e7Zsmqp064S2K2jDqm3A,xKT6v6rOoUm5Jrm4m20Pkg,51-zdIddQ0-4Ch8AOuLLlQ,wa-KM9x6E0aj7X2gJgKlAg,JlnXtC25XkaQ6Ob6ypt5OA?mode=read&tenantId=82d76692-8a4a-4b3d-9f26-5c9f344ce9e9&skipauthstrap=1

Hey Tess!! Good to see you!

Hi Prenita :) same to you!!

Nancy,do you provide training to those who would like to assist small business with : technology, record , bookkeeping and sales

training. and child care is a major one to provide this training

with research National Disability Institute conducted last year, we estimate that there are over 1.7 million small business owners with disabilities. Number one need identified was access to credit due to limited credit history and health related debt impacting adversely credit scores. What can CDFIs do to respond to this market segment?

Thanks Kristen for mentioning advocacy and philanthropy in the same breath. More of that awareness and action is needed and so much more if allowed than people know. Many funders stay away from advocacy as if it’s that dangerous third-rail, but it’s a broad and expansive way for funders to get engaged.

^is allowed

Thanks Nancy for raising that issue that philanthropy and other funders expect all sorts of reporting that require infrastructure, staffing to produce and yet there is a lack of unrestricted general operating support that is packaged together with the grants/funds to organizations.

any examples of public funding going to unrestricted funding?

#trustedcapital

Do our speakers have insights to share about coordination of federal and state programs? How can New York organizations offering small business services better coordinate and engage with city and state agencies?

How Is ''CALIFORNIA''

Northern California was ''HIT TREMENDOUSLY''... Before / During Pandemic / COVID...

Can you clarify that acronym?

Feel free to put questions directly in the chat or send to me if you want to keep them coming.

@Trufund.org

Is there any way to follow up with people if I have questions?

Would love to connect with you all. Aspen Institute Latinos and Society Program. These issues are particularly stark/front and center for Latinos. Would love to connect. Alejandro.manzanares@aspeninstitute.org

Would you provide contact information for the speakers? I would like follow-up on questions of how to best provide access to capital for Black owned businesses.

Thanks to everyone who joined us for today's session. We will follow-up with a recoding and set of resources from today's conversation. Also please stay tuned for our upcoming programs on CDFIs, CDCUs and MDIs.

Do any of you have suggestions about how New Markets Tax Credits can better reach Black owned businesses?

Kristin what was the reason you set up an innovation fund rather than general operating support?

We will include contact information for our speakers with our follow up.

Loved this discussion, thank you for organizing and to the panelists! Open to connecting with others to continue the discussion or engaging further. Johanna.nelson@state.nm.us or on LinkedIn.

the opportunity!

HELLO LEAH MAYOR -

Glad I got to see your ''FACE''... Good Job in Hosting LEAH MAYOR....

How soon will the recording be shared?