Economic Inclusion

$1.5 million grant from Wells Fargo will help woman- and minority-owned businesses in pandemic Virginia Community Capital will help many small businesses in the Richmond area that are struggling in the pandemic. Thanks to a $1.5 million grant from Wells Fargo, the community development financial institution (CDFI) will be able to give women and minority-owned business low-interest loans as well as support services to help companies navigate these difficult days.
Introducing CDFIs as a Way to Invest in Economic Inclusion The purpose of this presentation is to introduce Community Development Financial Institutions (CDFIs) as an impactful and competitive investment. CDFIs have a strong history of providing economic resources to financially underserved communities across America, helping to create jobs, fund small businesses, and support affordable housing development.

Large banks and foundations of all sizes have been investing in CDFIs for decades. Until recently, investing in a diverse pool of CDFIs at scale presented significant challenges for all but the savviest of investors. Now, with CNote, investors of all sizes can deploy capital across a diverse pool of CDFIs with ease. What are CDFIs?

This presentation will provide an overview of the CDFI industry, its history, how CDFIs are certified by the Department of Treasury, their mission and the types of investments CDFIs make in the communities they serve. Most importantly, this webinar will explore the way increased capital access and CDFI lending activities can have a transformative effect.

We will discuss concrete examples of how ACE has helped local entrepreneurs and businesses create jobs and bring sustained economic prosperity to their communities. This webinar will also cover traditional methods of investing in CDFIs, the capital needs of CDFIs and how CNote is connecting investors and CDFIs to scale community investments across America.

This presentation was co-hosted by:

Martina Edwards, Chief of Strategic Partnerships, for Access to Capital for Entrepreneurs. ACE is a Georgia-based CDFI that has emerged as a leader in responsive and innovative small business financing.

Catherine Berman, CEO, CNote. Based in Oakland, CA, CNote is an award-winning investment platform that streamlines the process of investing in CDFIs for investors of all sizes from individuals to institutions.

You can view the slides here: https://drive.google.com/open?id=1XIRJae4HOBRmuW4KjxQcQbML-unq04ct
NAAHL/CCL Webinar Series - Financing Racial Equity: National CDFI Perspectives If you missed our January 22nd webinar, watch what four national CDFI leaders have to say about how a renewed focus on racial equity is changing their work, the practice of community development, and the public policy agenda.

Panelists:
Lisa Mensah, President & CEO of Opportunity Finance Network
Priscilla Almodovar, President & CEO of Enterprise Community Partners
Maurice Jones, President & CEO of Local Initiatives Support Corporation
Marietta Rodriguez, President & CEO of NeighborWorks
2020 OFN Conference: Native CDFI Awardee Cook Inlet Lending Center (Official) Cook Inlet Lending Center based in Anchorage, Alaska, is honored as recipient of the 2020 Native CDFI Catalyst Award at the OFN Conference. The Native CDFI Catalyst Award is a $100,000 grant for one Native community development financial institution (CDFI) with a compelling strategy.

In 2019, Wells Fargo, First Nations Oweesta Corporation, and Opportunity Finance Network (OFN) launched the Native CDFI Awards as a three-year program to honor and support Native CDFIs that are creating opportunity and promoting self-sovereignty in Indian Country nationwide.
How Native CDFI's Transform Communities: Interview with Chrystel Cornelius at CommonBound 2016 Chrystel Cornelius is the Executive Director or the First Nations Oweesta Corporation in Longmont, Colorado. In this video, she speaks about the impact the native CDFI movement has had in transforming rural native communities, as well as the power of community-controlled finance.

Ms. Cornelius has worked with Native communities for most of her professional career, with than 16 years of experience working in the Native economic development field. Chrystel is of Chippewa and Oneida descent and has a BS in Business Management from the University of Mary in Bismarck, ND.

Learn more about this session and others like it at http://commonbound.org

CommonBound is a project of the New Economy Coalition (NEC), a network of 150-plus organizations including PeoplesAction, 350.org, and the U.S. Federation of Worker Cooperatives. NEC partnered on the conference with the Buffalo-based Crossroads Collective.

Filmed at CommonBound 2016 in Buffalo, NY. Videography by the Extraenvironmentalists (http://www.extraenvironmentalist.com/ ).
Delivering Credit to Entrepreneurs of Color Impacted by COVID-19: Why CDFIs Are Essential Prior to the global pandemic, the relatively high small business start and ownership rates among entrepreneurs of color were a bright spot in a period of declining US entrepreneurship. But small businesses have endured some of the hardest stresses of the pandemic, as forced closures and physical distancing have decimated earnings for restaurants, salons, childcare centers, and other services we all rely on. Businesses owned by entrepreneurs of color have been particularly impacted by declining revenues, and despite government efforts to get money into people’s hands, many small businesses have not received the support they need. This is partly a problem with the delivery systems used: programs that flow through banks miss those that have historically been underserved. Fortunately, there are lenders who serve these businesses and communities: Community Development Financial Institutions. CDFIs are mission-driven lenders that serve the parts of America that too often get left behind, including people of color, returning veterans, new citizens, and more. What role can CDFIs play in supporting entrepreneurs and advancing equity during this uncertain time? And how can policymakers, investors, philanthropy, and others support the work of CDFIs? This virtual event by the Aspen Institute Economic Opportunities Program explores the role CDFIs can play in supporting entrepreneurs and advancing equity during this uncertain time, as well as how can policymakers, investors, philanthropy, and others support the work of CDFIs. This conversation features Bill Bynum (HOPE); Michael Barr (Gerald R. Ford School of Public Policy); Nicole Jordan-Reed (Nicole Jordan Catering, LLC); and moderator Helaine Olen (The Washington Post).
Investing in the Community: Minority Banks and Community Development Financial Institutions - ALC Ending redlining: how minority banks and community development financial institutions can ensure equitable recovery for the black community.

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