COMMUNITY DEVELOPMENT FINANCE & REGULATION CROWDFUNDING A new capital source for CDFIs and the communities we serve
|
|
- Harvey Parrish
- 8 years ago
- Views:
Transcription
1 COMMUNITY DEVELOPMENT FINANCE & REGULATION CROWDFUNDING A new capital source for CDFIs and the communities we serve
2 Agenda 1. City First Enterprises 2. What is Crowdfunding? 3. New Access to Capital through Crowdfunding 2
3 CITY FIRST ENTERPRISES
4 MISSION To expand opportunity for low-income families and strengthen underserved communities through economic justice to effect transformative impact. STRATEGY To achieve our goal we channel capital and finance services to those without access and launch innovative solutions to empower local communities. VISION Capital is a catalyst that allows communities to grow -- John Hamilton, President 03 4
5 City First Family Community Wealth Building Initiative (CWBI) CFE Impact Investment Fund CROWDFUNDING CDFI Platform 6
6 A Track Record of Innovation City First Incubates Mission Finance Strategies City First Bank opens with $10M in capital and a mission to support DC s underserved areas City First Homes, a workforce housing and gentrification response program provides 100 permanently affordable homes in first three years CFE selected to plan the Community Wealth Building Initiative to launch employeeowned businesses servicing DC region s anchor institutions CFE begins by challenging financial racial inequities in DC and leading a community response City First begins investing New Market Tax Credits in distressed neighborhoods - $350M in 10 years CFE Enterprise Fund launches CFE begins research and advocacy on mission investing through CDFI Crowdfunding. 05 7
7 City First Family Assets ASSETS $250MM NEW MARKET TAX CREDITS $370MM MISSION FINANCE $750MM EMPLOYEES 50 City First Bank consistently ranked top 5 by NCIF for mission impact City First Enterprises Winner of White House Social Innovation Fund
8 City First s Impact 80% 5,000 7,000 4,000 Affordable Homes Charter School Seats Jobs Created or Retained City First Bank loans are in low- and moderate-income communities 08 9
9 City First Bank Lending 80% of City First Bank loans are in low- to moderateincome communities 12 10
10 crowd fund ing kroud ˈfəәndiNG Collective effort of individuals who network and pool their money, usually via the internet, to support efforts initiated by other people or organizations. Use of small amounts of capital from a large number of individuals to finance a new initiative. 10
11 Types of Crowdfunding 1. Donation 2. Reward & Pre-purchase 3. Peer-to-peer (P2P) 0% Interest Lending 4. Securities Debt/Equity 11
12 Crowdfunding a Timeline Cooperatives, loan funds raise project-specific funds using fundraising from a crowd Pre-21 st Century Kickstarter launches for art and design projects, goes on to see over $27M pledges in SEC releases proposed rules for crowdfunding DonorsChoose launches 2005 Kiva makes first seven loans 2012 Crowdfunding platforms raise over $2.7B through over 1 million campaigns JOBS Act passed 12
13 National Bipartisan Support U.S. Jumpstart Our Business Startups (JOBS) Act was signed into law April 5, 2012 and included Title III, the Crowdfunding Act 13
14 Crowdfunding Proposed Rules 14
15 JOBS Act Title III Capital Raise Limited to $1M over 12 Months Single Investor Can Invest: If income is above $100k: If income is below $100k: $2,000 5% of income 10% of income UP TO $100K Must Use a Funding Portal or Broker-Dealer 15
16 Investor Protection Concerns Securities experts & investor protection advocates urge strong investor protection: 16
17 CROWDFUNDING AND CDFIS 17
18 Opportunity: Crowdfunding is Growing Growth in Worldwide Funding Volume (millions of dollars) Total 2012 Crowdfunding 5,100 In 2012 crowdfunding platforms funded more than 1 million campaigns. 2,660 1, (Est.) Year-over-Year Growth: 61% 72% 81% 91% Sources: Crowdfunding Industry Report, Massolution (Crowdsourcing.org); MacLellan, Kyle. "Global Crowdfunding Volumes Rise 81 Percent in 2012." Reuters. N.p., 13 Apr Web; Kiva.org/stats, and Kickstarter/org/data 18
19 Challenge: Barriers to Mission Funding Charitable Giving Sources Foundation s 15% Corporate 6% Other sources 6% Banks 38% CDFI Capital Sources Corporate 10% Individuals 79% Individuals 19% Gov t 10% Internal Funds 6% Philanthropy 10% Source: First Chart: 2013 Giving USA: Giving USA 2013 Report Highlights, Accessed June 18, Overview of giving in (2013), Source: First Chart: 2013 Giving USA: Giving USA 2013 Report Highlights, Accessed June 18, Overview of giving in (2013), Second chart: ExtrapolaJon based on The Financial Crisis and CDFIs: A Brief Look at CIIs Data, CDFI Fund. Second chart: ExtrapolaJon based on The Financial Crisis and CDFIs: A Brief Look at CIIs Data, CDFI Fund. 19
20 Demand for Impact Investing Very Interested 10% Not at All Interested 13% Interested, Want to Learn More 38% Not Yet Sure 39% *For U.S. population with over $80K HH income Source: Hope Source: ConsulJng. Hope ConsulJng. Money for Money Good: The for Good: US Market The US for Market Impact for Investment Impact Investment and Charitable and Charitable GiXs from GiXs Individual from Donors Individual and Donors InsJtuJons. and InsJtuJons. May May
21 CDFI Capital Demand 136 CDFIs see capital demand shortfall of $880m in 2011 Opportunity Finance Network Survey Source: Dolan, Cathy. CDFI Bond: Opportunity of a Decade. Rep. 2nd ed. Vol. 23. Federal Reserve Bank of San Francisco, Community Investments. Page
22 Milken Institute Crowdfunding Roundtable Summarizing topline consensus JOBS Act Crowdfunding event: Crowdfunding: Promoting the Promise and Minimizing the Peril, summarizing July 26th 2012 event. 22
23 Ecosystem Policy and Practice 24!
24 THE CDFI LEVERAGE By coupling crowdfunded capital with CDFI lending, we can generate more mission investment, deepen community engagement, and strengthen organizations, enterprises, and people working to enhance their communities City First Enterprises!
25 How It Works CDFI Platform Mission lenders fill gap needed Nonprofit Borrower Capital Stack Issuer Equity Crowdfunding CDFI 25
26 Regulation A+ - Proposed 26
27 Questions? Suzanne Adatto Assistant Vice President, CFE City First Enterprises!
CDFIs and JOBS Act Crowdfunding
CDFIs and JOBS Act Crowdfunding A new capital source for CDFIs and the communities we serve November 14 th, 2013 John Hamilton, President Agenda:" " 1. City First Enterprises" " 2. What is Crowdfunding?"
More informationPresident s Report Collaborating for Maximum Impact
Community Reinvestment Fund, USA President s Report Collaborating for Maximum Impact Fiscal Year 2014 CREATING IMPACT Funders Local Partners CRF Investors Collaboration Impact Small Businesses Flourishing
More informationII. CDFI ORGANIZATIONAL STRUCTURES
II. CDFI ORGANIZATIONAL STRUCTURES This section describes the organizational structures and characteristics of CDFIs. It provides information that can assist financial institutions and community leaders
More informationEVALUATION OF BANK/CDFI PARTNERSHIP OPPORTUNITIES
IV. EVALUATION OF BANK/CDFI PARTNERSHIP OPPORTUNITIES Banks should carefully review prospective relationships with CDFIs. In particular, they should evaluate the CDFI s service area relative to the bank
More informationCommunity Investments Vol. 10, Issue 1 Community Development Credit Unions: Partners or Competitors?
Community Investments Vol. 10, Issue 1 Community Development Credit Unions: Partners or Competitors? Author(s): Sarah Bennett, Community Affairs Intern, Kennedy School of Government, Harvard University
More informationCommunity Development Financial Institutions
Community Development Financial Institutions A P U B L I C A T I O N O F T H E C D F I D A T A P R O J E C T What are community development financial institutions? Community development financial institutions
More informationOpportunity Finance Network. Presentation to Minority Business Development Agency: 3/4/15
Opportunity Finance Network Presentation to Minority Business Development Agency: 3/4/15 Opportunity Finance Network (OFN) Leading national network of community development financial institutions (CDFIs)
More informationnational community investment fund
national community investment fund May 17, 2013 Legislative and Regulatory Activities Division Office of the Comptroller of the Currency Mail Stop 9W-11 400 7th street, SW Washington DC 20219 Docket ID
More informationCROWDSOURCING: CONNECTING PEOPLE, COMMUNITIES AND CAPITAL
CROWDSOURCING: CONNECTING PEOPLE, COMMUNITIES AND CAPITAL TRACK 2 Job Creation Presented: Thursday, May 14, 2015, 10:00am-Noon 1 Welcome http://youtu.be/qkdjsglk-na 2 Presenters TRACK 2 Job Creation Max
More informationAn Urgent Opportunity in the Mississippi Delta
An Urgent Opportunity in the Mississippi Delta Eradicating Bank Deserts, Tackling Persistent Poverty and Fortifying HOPE s Capacity The Challenge Over the last three decades, income and wealth inequality
More informationBusiness Opportunities. Development Lending
Business Opportunities in Community Development Lending 30 March 2012 Performance Context and Lending, Investment and Service Tests Performance Context: Performance context is the framework within which
More informationDepartment of Legislative Services Maryland General Assembly 2014 Session
Senate Bill 811 Judicial Proceedings Department of Legislative Services Maryland General Assembly 2014 Session FISCAL AND POLICY NOTE Revised (Senator Raskin) SB 811 Economic Matters Corporations and Associations
More informationInvest Mississippi Crowdfunding
Invest Mississippi Crowdfunding New guidelines for soliciting & accepting small business start-up and expansion capital via Internet-based investing Intrastate Exemption Rule Securities Rule 7.21 Simplified
More informationCommunity Investments Vol. 9, Issue 2 Community Development Financial Institutions: A Primer
Community Investments Vol. 9, Issue 2 Community Development Financial Institutions: A Primer Author(s): Fred Mendez, Community Investment Specialist, Federal Reserve Bank of San Francisco Summer 1997 There
More informationCrowdfunding: Game Changer for Small Business? Small Business Administration Office of Investment and Innovation
Crowdfunding: Game Changer for Small Business? Office of Investment and Innovation Presentation Outline: - Background on crowdfunding to date - Current state of crowdfunding in light of SEC proposed rules
More informationHow To Fund A Business
Access to Capital 101: Funding Options to Start and Grow Your Small Business May 28, 2015 Rhea Aguinaldo Manager of Entrepreneurship Small Business Majority About Small Business Majority Small business
More informationNon Profit Social Financing. What do you need to know?
Non Profit Social Financing What do you need to know? What is CAIC? A social finance fund providing mortgages, construction financing & loans to groups, organizations & cooperatives with a project of social
More informationDiverse Community Capital Program
Diverse Community Capital Program Mike Rizer EVP, Head of Community Relations Megan Teare SVP, Community Lending & Investment November, 2015 2015 Wells Fargo Bank, N.A. All rights reserved. For public
More informationUNDERSTANDING DEBT AND EQUITY CROWDFUNDING FROM A LEGAL PERSPECTIVE
UNDERSTANDING DEBT AND EQUITY CROWDFUNDING FROM A LEGAL PERSPECTIVE What Is Crowdfunding? In today s economy the term crowdfunding can take on many contexts but it is, by definition, the practice of funding
More informationGeorgia Department of Community Affairs. Atlanta Regional Commission June 12, 2012
Georgia Department of Community Affairs Atlanta Regional Commission June 12, 2012 History & Background of State Small Business Credit Initiative (SSBCI) Component of Small Business Jobs Act, bi-partisan
More informationHow To Help Small Businesses In North Carolina
STATE SUPPORT FOR SMALL BUSINESS LENDING: A Roadmap for North Carolina October 2014 Introduction Small businesses are the economic engines of our state and local communities. In North Carolina, businesses
More informationNeighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014
Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014 Overview Neighborhood Lending Partners Certified as a CDFI-providing
More informationBANK ON DC. GW Impact Investment in Community Development Banks Will Revitalize DC Proposed by the George Washington University Roosevelt Institute
BANK ON DC GW Impact Investment in Community Development Banks Will Revitalize DC Proposed by the George Washington Roosevelt Institute As an institution that seeks to promote civic engagement with the
More informationStatement of problem. Why microfinance?
WANT IMPACT? BUILD MARKET-RELEVANT MICROLENDERS Joyce Klein, Director of the Aspen Institute Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination The Aspen Institute Microenterprise
More informationBridging Health and Community Development: Investing in People, Place, and Equity May 21, 2015 1:00 pm Eastern Time
Bridging Health and Community Development: Investing in People, Place, and Equity May 21, 2015 1:00 pm Eastern Time Andriana Abariotes, Twin Cities LISC Kimberlee Cornett and David Fukuzawa, The Kresge
More informationHow Big Will the Debt and Equity Crowdfunding Investment Market Be? Comparisons, Assumptions, and Estimates
How Big Will the Debt and Equity Crowdfunding Investment Market Be? Comparisons, Assumptions, and Estimates Jason Best Center for Entrepreneurship and Technology UC Berkeley College of Engineering Sherwood
More informationStrategies for Community Banks to Develop Partnerships with Community Development Financial Institutions
Strategies for Community Banks to Develop Partnerships with Community Development Financial Institutions March 2014 1 ACKNOWLEDGEMENTS The FDIC acknowledges the expertise and critical review received
More informationFunding sources Delivering and implementing RESOURCE
Funding sources Delivering and implementing RESOURCE INTRODUCTION What Why How There are a number of funding options available to you as you look to launch your business. A range of factors will influence
More informationTHE ROLE OF CROWDFUNDING IN ENTREPRENEURIAL FINANCE
Delhi Business Review X Vol. 13, No. 2 (July - December 2012) THE ROLE OF CROWDFUNDING IN ENTREPRENEURIAL FINANCE Devashis Mitra* P URPOSE THIS study seeks to examine the relatively new trend in alternative
More informationImpact Measurement for CDFI Small Business Lenders
Impact Measurement for CDFI Small Business Lenders Donna Fabiani June 11, 2013 Survey of CDFI Small Business Lenders Electronic survey: 18 of 21 partners in the Goldman Sachs 10,000 Small Business CDFI
More informationDECEMBER 2015. A community economic development initiative for improving and strengthening the St. Louis Region
DECEMBER 2015 A community economic development initiative for improving and strengthening the St. Louis Region TABLE OF CONTENTS Introduction. 1 Invest STL..........3 Ecosystem.........4 Invest STL Structure.......
More informationCrowdfunding and shadow banking
Crowdfunding and shadow banking... and other online financing developments Sara Hanks CEO, CrowdCheck, Inc. Medellin, December 4, 2014 Definitional problems What is crowdfunding? Definition of investment
More informationREQUEST FOR INVESTMENT PROPOSALS WORKING CAPITAL FOR GROWING BUSINESS
REQUEST FOR INVESTMENT PROPOSALS WORKING CAPITAL FOR GROWING BUSINESS CFED, with support from the Northwest Area Foundation, Wachovia, Cascadia Revolving Fund, and the National Community Capital Association,
More informationFHLBanks: The Basics. For more information, visit www.fhlbanks.com.
FHLBanks: The Basics For more information, visit www.fhlbanks.com. The Federal Home Loan Banks (FHLBanks) are 11 private, wholesale banks regionally based throughout the U.S. They are cooperatively owned
More informationGUIDE TO CREATING A CAPITAL CAMPAIGN PLAN: CONTENTS
GUIDE TO CREATING A CAPITAL CAMPAIGN PLAN: CONTENTS NOTE (9-17-10): This Guide wasn t designed as a template for a capital campaign plan. It was originally created as a tool and proposal attachment for
More informationApproach to Community Impact Grant Guidelines
Approach to Community Impact Grant Guidelines 2015 TABLE OF CONTENTS ABOUT THE MINNEAPOLIS FOUNDATION 2 GRANTS TO NONPROFITS 3 IMPACT PRIORITIES FOR GRANTMAKING 3-8 EDUCATION 4-5 ECONOMIC VITALITY 6-7
More informationCDFI Program Overview CDVCA Conference Panel
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND www.cdfifund.gov CDFI Program Overview CDVCA Conference Panel PRESENTED BY Adam Martinez CDFI Program Manager PRESENTED ON March 12, 2014 CDFI Fund Overview
More informationCommunity Investing in Canada. Written by: Susannah Cameron, Executive Director Canadian Community Investment Network Cooperative Canada
Community Investing in Canada Written by: Susannah Cameron, Executive Director Canadian Community Investment Network Cooperative Canada TABLE OF CONTENTS Introduction... 1 Describing the community investing
More informationBig Local social investment guide to small business lending
Big Local social investment guide to small business lending Welcome to the Big Local social investment guide to small business lending! This is one of four publications that provide more specific details
More informationCrowdfunding KEVIN M. MCGOVERN FAMILY CENTER FOR VENTURE DEVELOPMENT IN THE LIFE SCIENCES. The new buzzword in Capital Formation
KEVIN M. MCGOVERN FAMILY CENTER FOR VENTURE DEVELOPMENT IN THE LIFE SCIENCES Crowdfunding The new buzzword in Capital Formation Enzo Villani May 17, 2013 What is crowdfunding? 1 st person to coin the term?
More informationAudit Report. Office of Inspector General. Department of the Treasury. November 15, 2006
Audit Report OIG-07-011 Audit of the Community Development Financial Institutions Fund's Fiscal Years 2006 and 2005 Financial Statements November 15, 2006 Office of Inspector General Department of the
More informationInvestments and Services. 2012 National Interagency Community Reinvestment t Conference
Community Development Investments and Services 2012 National Interagency Community Reinvestment t Conference Community Development Defined Affordable housing targeted to low- or moderate- income (LMI)
More informationDIFFICULT TIMES FOR SMALL BUSINESS
MICRO BUSINESS LENDING AND ALTERNATIVE FINANCING FIND ME THE MONEY Session speakers: Hilary Greenberg, President of Greenberg Development Services (Charlotte, NC) Scott Daugherty, Executive Director, SBTDC
More informationUNDERSERVED. Empowering the. 2014 Credit Union National Association Inc. Reprinted with permission. Dianne Molvig
Empowering the UNDERSERVED Dianne Molvig 28 CREDIT UNION MAGAZINE u DECEMBER 2014 u creditunionmagazine.com 2014 Credit Union National Association Inc. Reprinted with permission. More CUs are seeking CDFI
More informationWe agree with the guidance given on the definition of a regional area.12(h)7.
May 17, 2013 OCC: Docket ID OCC-2013-0003 Federal Reserve: Docket No. OP-1456 FDIC: Attention Comments on CRA Interagency Q&A To Whom It May Concern: Reinvestment Partners (formerly the Community Reinvestment
More informationAgenda. Call Logistics and Introductions Discussion: Future Call Topics Poll
2_Title Slide Better Buildings Residential Network Multi- Family/ Low Income Peer Exchange Call Series: Strengthening Relationships between Energy and Housing Programs October 31, 2013 Agenda Call Logistics
More informationSeptember 23, 2015. Michael Semmann Executive Vice President/Chief Operations Officer Wisconsin Bankers Association
September 23, 2015 Michael Semmann Executive Vice President/Chief Operations Officer Wisconsin Bankers Association The crowdfunding process is very much like any other fundraising project or funding campaign.
More informationATEL Growth Capital Fund 8, LLC. Financing Tomorrow s Technologies... Today
ATEL Growth Capital Fund 8, LLC Financing Tomorrow s Technologies... Today RISK FACTORS Investors are encouraged to carefully read the Prospectus for ATEL Growth Capital Fund 8, LLC which has been provided
More informationDr. Richard Swart, UC Berkeley rswart@berkeley.edu. Alternative Finance: How to Take Advantage of New Financing for Your Business
Dr. Richard Swart, UC Berkeley rswart@berkeley.edu Alternative Finance: How to Take Advantage of New Financing for Your Business Tweet Please @richardswart Who am I? Run UC Berkeley s Research efforts
More informationCommunity Development Financial Institutions (CDFIs) Participation in the New Markets Tax Credit (NMTC) Program.
Community Development Financial Institutions (s) Participation in the New Markets Tax Credit (NMTC) Program. A Coalition Analysis of the First Three Rounds of New Markets Tax Credit Allocations June 2005
More informationAn Assessment of Capacity Building in Washington State
An Assessment of Capacity Building in Washington State The Nonprofit Ecosystem Framework Executive Summary prepared by The Giving Practice A consulting service of Philanthropy Northwest February 2012 About
More informationNEXT STEPS: THE CONTINUED DEVELOPMENT OF THE PARRISH COMMUNITY
NEXT STEPS: THE CONTINUED DEVELOPMENT OF THE PARRISH COMMUNITY Presented by: The Central Economic Development Center (CEDC) INTRODUCTION The Central Economic Development Center (CEDC) The mission of the
More informationRegulation Crowdfunding
November 4, 2013 Regulation Crowdfunding Recently, the Securities and Exchange Commission ( SEC ) voted 5-0 to approve the release of proposed Regulation Crowdfunding (the Proposed Rule ) under the JOBS
More informationCommunity Advantage (CA), A SBA Brand for Underserved Markets - Background
Community Advantage (), A SBA Brand for Underserved Markets - Background Purpose : Increase access to credit for small businesses in underserved markets, By expanding points of access to SBA loans through
More informationCommunity Investments Vol 15, Issue 2 The Story of Phoenix's NMTC Allocation
Community Investments Vol 15, Issue 2 The Story of Phoenix's NMTC Allocation Author(s): Roberto Franco, Vice President, Phoenix Community Development and Investment Corporation August 2003 Phoenix is honored
More informationCrowdfunding. The JOBS Act and the SEC s Missing Rules. Jeanne R. Solomon Matthew Zucker Maura Gallagher. April 2013
Crowdfunding The JOBS Act and the SEC s Missing Rules Jeanne R. Solomon Matthew Zucker Maura Gallagher April 2013 Overview What is crowdfunding? Types of crowdfunding Crowdfunding around the world US crowdfunding
More informationwww.houstontx.gov/obo www.houstontx.gov/hbsc 832-393-0954
HOUSTON BUSINESS SOLUTIONS CENTER 611 Walker St., Lobby Level Houston, Texas 77002 www.houstontx.gov/obo www.houstontx.gov/hbsc 832-393-0954 TABLE OF CONTENTS TABLE OF CONTENTS WHAT IS AN ALTERNATIVE LENDER
More informationPresident Obama Announces New Efforts to Improve Access to Credit for Small Businesses
President Obama Announces New Efforts to Improve Access to Credit for Small Businesses Improving access to credit by small businesses is a crucial step in supporting economic recovery and job creation.
More informationSterne Agee Financial Institutions Investor Conference. David Carroll Senior Executive Vice President Head of Wealth, Brokerage and Retirement
Sterne Agee Financial Institutions Investor Conference David Carroll Senior Executive Vice President Head of Wealth, Brokerage and Retirement February 14, 2012 Wells Fargo vision We want to satisfy all
More informationTROPMAN REPORT 2003 SERIES
TROPMAN REPORT 2003 SERIES volume 2 : number 3 IDENTIFYING FINANCING OPPORTUNITIES FOR PITTSBURGH-BASED SOCIAL ENTERPRISES: Challenges and Opportunities for Capitalizing Entrepreneurial Ventures The Forbes
More informationThank you, Saurabh, for that very kind introduction. I m delighted to be back in
Remarks by John G. Walsh Chief of Staff and Public Affairs Office of the Comptroller of the Currency Before the National Community Investment Fund s Annual Development Banking Conference Chicago, Illinois
More informationCrowdfunding America s Small Businesses After the JOBS Act of 2012
38 REVIEW OF BANKING & FINANCIALLAW Vol. 32 IV. Crowdfunding America s Small Businesses After the JOBS Act of 2012 A. Introduction Crowdfunding is a form of microfinance in which numerous small lenders
More informationPublic Input on Expanding Access to Credit through Online Marketplace Lending
Note: This notice has been submitted to the Office of the Federal Register (OFR) for publication and is currently scheduled for placement on public display at the OFR on Friday, July 17, 2015 and publication
More informationInvestment required: up to 400,000 (EIS pending)
Web Brief New Peer-to-Peer Crowd Funding Business BFS Ref.: PF/394/045 Investment required: up to 400,000 (EIS pending) Summary Our client is a new start company, and will enter the rapidly expanding UK
More informationMICROLENDING IN THE UNITED STATES A TIMELINE HISTORY, 1973-2010
MICROLENDING IN THE UNITED STATES A TIMELINE HISTORY, 1973-2010 OVERVIEW Microfinance offers fair and empowering products loans, savings accounts, insurance, and more that help people get ahead financially.
More informationAffordable Housing Partnership Housing Counseling Program
Affordable Housing Partnership Housing Counseling Program ORGANIZATION AND STAFF INFORMATION Name of Organization: Affordable Housing Partnership of the Capital Region Inc. 255 Orange Street Albany, New
More informationACCESS TO CAPITAL FOR ENTREPRENEURS. Gary Lindner, President & CEO
ACCESS TO CAPITAL FOR ENTREPRENEURS Gary Lindner, President & CEO Who We Are Texas registered Non-Profit 501(c)3 and U.S. Treasury Certified Community Development Financial Institution (CDFI) SBA certified
More informationLow-income communities face several chronic banking problems:
Create A Nationwide Network of Community Development Banks President Clinton is committed to making more credit available to unleash the private sector and create jobs in all American communities. His
More informationOPEN SOCIETY INSTITUTE BALTIMORE 201 North Charles Street, Suite 1300, Baltimore, MD 21201, (401) 234-1091 www.soros.org/initiatives/baltimore
OPEN SOCIETY INSTITUTE BALTIMORE 201 North Charles Street, Suite 1300, Baltimore, MD 21201, (401) 234-1091 www.soros.org/initiatives/baltimore SUMMARY The Open Society Institute (OSI), a private operating
More informationThe WE Lend Initiative www.we-lendinitiative.org $2.5MM Grant Empowering Women Entrepreneurs through Increased Access to Capital.
1 The WE Lend Initiative www.we-lendinitiative.org $2.5MM Grant Empowering Women Entrepreneurs through Increased Access to Capital Media Q&A 2 The Initiative What is the WE Lend Initiative? The WE Lend
More informationRace and Social Justice Initiative (RSJI) in the Budget
(RSJI) in the Budget Introduction This chapter provides background and context for Race and Social Justice Initiative (RSJI) related budget additions throughout the 2015-2016 Proposed Budget. This is an
More informationAmit Ronen, Director, George Washington University Solar Institute Anya Schoolman, President, DC Solar United Neighborhoods (DC SUN)
TO: FROM: Mayor Gray, DC Council Members, and DDOE Amit Ronen, Director, George Washington University Solar Institute Anya Schoolman, President, DC Solar United Neighborhoods (DC SUN) DATE: June 3, 2014
More informationRural Opportunity Investment Initiative
Rural Opportunity Investment Initiative Matt McKenna Advisor to the Secretary U.S. Department of Agriculture January 28, 2014 AGENDA Build America USDA Rural Development Rural Opportunity Investment Initiative
More informationAligning Resources and Results: How Communities and Policymakers Collaborated to Create a National Program
Aligning Resources and Results: How Communities and Policymakers Collaborated to Create a National Program The recent release of President Obama s fiscal year (FY) 2013 budget proposal provides an important
More informationNATIONAL COMMUNITY INVESTMENT FUND AND AFFILIATE YEARS ENDED DECEMBER 31, 2013 AND 2012
NATIONAL COMMUNITY INVESTMENT FUND YEARS ENDED DECEMBER 31, 2013 AND 2012 YEARS ENDED DECEMBER 31, 2013 AND 2012 CONTENTS Page Independent auditor s report 1-2 Consolidated financial statements: Statement
More informationCredit: Global Alliance for Clean Cookstoves INCREASING INVESTMENT IN THE CLEAN COOKING SECTOR
Credit: Global Alliance for Clean Cookstoves INCREASING INVESTMENT IN THE CLEAN COOKING SECTOR A STRATEGY TO DRIVE INVESTMENT BACKGROUND The Global Alliance for Clean Cookstoves is a publicprivate partnership
More informationREPORT Bay Area Transit-Oriented Affordable Housing Fund Assessment and Lessons Learned
REPORT Bay Area Transit-Oriented Affordable Housing Fund Assessment and Lessons Learned Prepared for Bay Area TOAH Fund Prepared by Seifel Consulting Inc. ICF International Table of Contents Executive
More informationStatement of William G. Hall, CFE Chief Executive Officer William G. Hall & Company. Before the House Committee on Small Business
Statement of William G. Hall, CFE Chief Executive Officer William G. Hall & Company Before the House Committee on Small Business Hearing on Access to Capital: Can Small Businesses Access the Credit Necessary
More information17th Annual Delaware Institute for Local Government Leaders. Financing Local Communities By First State Community Loan Fund
17th Annual Delaware Institute for Local Government Leaders Financing Local Communities By First State Community Loan Fund Vandell Hampton, Jr., Executive Director First State Community Loan Fund 100 West
More informationBuilding Your Pipeline. July 1, 2015. Pathway Lending
Building Your Pipeline July 1, 2015 1 Pathway Lending Mission: Providing underserved small businesses with lending solutions and educational services that result in job creation and economic development.
More informationServing underserved communities Strengthening local economies Sustaining small businesses
ANNUAL REPORT 2013 Creating economic opportunity for all people. Serving underserved communities Strengthening local economies Sustaining small businesses Why do we do this? 3120 Highwoods Blvd. Suite
More informationAPPENDIX 6: FUNDING SOURCES MATRIX
APPENDIX 6: ING S MATRIX NAME FEDERAL S Assisted Living Conversion Program (ALCP) Community Development Block Grant (CDBG) Energy Efficiency and Conservation Block Grants (EECBG) Green Retrofit Program
More informationACTION ITEM EXECUTIVE SUMMARY
F6 Office of the President TO THE MEMBERS OF THE COMMITTEE OF FINANCE: For Meeting of ACTION ITEM AUTHORIZATION TO RETIRE AND REFUND EXISTING TAX-EXEMPT DEBT OBLIGATIONS FOR THE CHILDREN S HOSPITAL OF
More informationThe Economic Impact of The Support Center s Small Business Revolving Loan Fund
Creating economic opportunity for all people. The Economic Impact of The Support Center s Small Business Revolving Loan Fund January 2014 3120 Highwoods Blvd, Suite 350 Raleigh, NC 27604 919.803.1437 phone
More informationINSPIRE PERSEVERE ACHIEVE. 2008 Impact Report
INSPIRE PERSEVERE ACHIEVE 2008 Impact Report Community Development Financial Institution building healthy communities creating financial strength providing innovative solutions funding dreams for tomorrow
More informationTMF: The Proven Model for Texas Business and Community
TMF: The Proven Model for Texas Business and Community Development Business loans for growth-oriented businesses with needs that may qualify for only partial financing through traditional lending institutions.
More informationCrowdfunding Right Now: Alternatives to Title III of the JOBS Act
Crowdfunding Right Now: Alternatives to Title III of the JOBS Act Andrew A. Hecht, Law Offices of Andrew A. Hecht, with PLC Corporate & Securities May 16, 2013 This Article summarizes some of the main
More informationOverview of Financial Services for Mid-Tier Food Chain Enterprises
Overview of Financial Services for Mid-Tier Food Chain Enterprises Date of Publication: September 30, 2011 Author: Ginger McNally, National Federation of Community Development Credit Unions 1 Introduction
More informationNonprofit Finance Fund. Preparing Your Organization to Apply for a Loan. Anne Dyjak Chief Credit Officer & Vice President Nonprofit Finance Fund
Nonprofit Finance Fund Preparing Your Organization to Apply for a Loan Anne Dyjak Chief Credit Officer & Vice President Nonprofit Finance Fund June 2010 Agenda Introductions Considering a Loan? What types
More informationStrategic Plan 2011-2013
Strategic Plan 2011-2013 A Community Development Financial Institution Affiliate of Cabrillo Economic Development Corporation and NeighborWorks America Homeownership Center Network Member As of January
More informationEU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3
EU-CELAC Business Summit eucelac-bizsummit2015.eu Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3 Access to finance and financial instruments The important role of Small and Medium-sized
More informationINVESTING IN WORKER OWNERSHIP
INVESTING IN WORKER OWNERSHIP How Finance Institutions Can Create Deep Impact at Scale with Worker Cooperatives Investing in Worker Ownership For financial institutions looking to create deep and lasting
More informationEU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3
Working Party on Latin America and the Caribbean (COLAC) m.d. : 90/15 source : EEAS for : Information date : 29-04 - 2015 EU-CELAC Business Summit eucelac-bizsummit2015.eu Wednesday 10 th June 2015, 14:30-16:30
More informationWhat is a Community Development Entity?
Overview What are New Markets Tax Credits? > First federal tax credit program to stimulate commercial investment in low-income communities > The program is administered by the US Treasury Department through
More informationMISSION ACTION PLAN 2020. Community Meeting Summary April 22, 2015
MISSION ACTION PLAN 2020 Community Meeting Summary April 22, 2015 The first community meeting of Mission Action Plan to inform the public about the Mission Action Plan 2020 and consult on ideas for solutions
More informationGeorgia State Small Business Credit Initiative
GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS Georgia State Small Business Credit Initiative FINANCIAL INSTITUTION PRESENTATION SEPTEMBER 2014 September 2014 History & Background of State Small Business Credit
More informationDefining Community Development. What qualifies and a case study for practical application
Defining Community Development What qualifies and a case study for practical application (CD) Credit needs vary among communities CD regulation concepts CD Loans Qualified Investments CD Services Affordable
More informationDEPARTMENT OF EDUCATION
DEPARTMENT OF EDUCATION Funding Highlights: Provides $68.6 billion in discretionary funding for the Department of Education to build upon investments in preschool access, ongoing K-12 reforms, and efforts
More informationLearn How to Get Your Residents Online Solution Session from Digital Inclusion City Leadership Award Winners
Learn How to Get Your Residents Online Solution Session from Digital Inclusion City Leadership Award Winners By Google Fiber, Next Century Cities & National League of Cities Moderated by Denise Linn of
More informationBANK OF THE WEST 2013 COMMITMENT TO COMMUNITY REPORT
BANK OF THE WEST 2013 COMMITMENT TO COMMUNITY REPORT COMMITMENT TO COMMUNITY I am very pleased to present the Bank of the West Commitment to Community Report for 2013. Now in its fifth year, this report
More information