Podcasts about cdfis

A tool to help finance housing, business, and other community development projects on tribal land is in President Donald Trump's crosshairs. President Trump's executive order eliminates funding for Community Development Financial Institutions (CDFI). It's unclear what the order means in practicality. His budget reduces federal funding for CDFIs by almost $300 million. If the cuts to CDFIs are realized, it could significantly curtail progress on affordable housing, small businesses, green energy, and other projects.

A tool to help finance housing, business, and other community development projects on tribal land is in President Donald Trump's crosshairs. President Trump's executive order eliminates funding for Community Development Financial Institutions (CDFI). It's unclear what the order means in practicality. His budget reduces federal funding for CDFIs by almost $300 million. If the cuts to CDFIs are realized, it could significantly curtail progress on affordable housing, small businesses, green energy, and other projects.

Originally uploaded July 11th, re-edited April 22nd. Jeffrey Mosher welcomes Elissa Sangalli, President/CEO, Northern Initiatives, Marquette, MI. Questions 1. Can you explain the significance of Michigan having the largest state-supported CDFI program in the nation? 2. How will the $19 million awarded in this second round of MEDC funding specifically impact Michigan communities? 3. How has MEDC's MI CDFI Fund impacted Northern Initiatives and other members of the coalition's ability to support underserved communities? 4. The FY2025 state of Michigan budget recently passed and the MI CDFI Fund was allotted $5M in funding. What specific initiatives or projects are expected to benefit most from this increased funding? 5. What role do you see CDFIs playing in the broader economic development of Michigan? $19 Million Awarded to 38 CDFIs to Support Underserved Borrowers Michigan Hosts the Nation's Largest State CDFI Fund, Granting Support for Underserved Consumers, Small Businesses, Affordable Housing, and Neighborhood Revitalization LANSING, MI, June 24, 2024 – The Michigan Economic Development Corporation (MEDC) has awarded $19 million in grants to 38 Community Development Finance Institutions (CDFI) through the Michigan Community Development Financial Institution Fund Program (MI CDFI Fund Program). With this second round of funding, Michigan now has the largest state-supported CDFI program in the nation. In total, the MI CDFI Fund has awarded $84 million to 46 CDFIs. CDFIs are mission-based lenders that provide flexible and affordable financing to small and micro-businesses, first-time home buyers, affordable housing developments, and projects that revitalize neighborhoods, commercial corridors, and community spaces. CDFIs expand access to capital and the resources needed to grow communities by offering financial services, technical assistance, and more. The MI CDFI Fund is a grant program aimed at assisting CDFIs grow their lending capacity and meet the growing demands of underserved borrowers. To qualify for MI CDFI Fund grants, an organization must be a certified CDFI, in good standing with the US Department of Treasury, either be headquartered in Michigan or have a Michigan presence and commit to allocating no less than 80% of grant funds to support Michigan borrowers. “The MI CDFI Fund is critical to the loan programs our members provide throughout the state,” said Elissa Sangalli, Chair of the Michigan CDFI Coalition and President of Northern Initiatives. Michigan CDFIs have a big impact in communities throughout the state. According to MI CDFI Coalition research, Michigan's CDFIs have deployed more than $4 billion in loans in addition to accomplishing the following: Created more than 30,000 permanent jobs; Deployed $1.53B PPP loans to Michigan businesses and nonprofits, preserving 165,000 jobs; Developed or preserved over 14,000 housing units (72% affordable); and Supported over 7,000 small or micro-businesses. First-round funds from the MI CDFI Program are already being deployed into Michigan Communities. Chi Ishobak, Inc. has issued a loan to a tribal-owned small business in Fraser, Michigan to purchase equipment, allowing the business to increase production and boost revenue. Cinnaire created the Community Development Organization (CDO) Loan Pilot Program Second round MI CDFI Fund Program grants were awarded to dozens including: Cinnaire Lending Corporation Northern Initiatives Learn more about the Michigan CDFI Coalition and its members at www.micdfi.org and more about the MI CDFI Fund Program at https://www.michiganbusiness.org/services/access-capital/cdfi-fund/

Glen speaks with Frank Diekmann, Founder and Publisher of the newly minted The CU Daily, about his latest venture and the need for “hard news” reporting in the credit union space. Also- a ray of light for CDFIs, grandstanding against paper checks, and splitting hairs on CBDCs.   Links related to this episode:   The CU Daily: https://thecudaily.com/   The CU Daily's article on Treasury's CDFI response: https://thecudaily.com/facing-budget-axe-from-wh-exec-order-treasury-says-cdfi-programs-should-remain/   Last week's discussion with Jason Stverak on tax status and CDFIs: https://www.big-fintech.com/defending-and-debunking-credit-unions-tax-status/   Trump's Executive Order supposedly eliminating paper checks from/to the Federal Government:  https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/   Reuters on World Liberty Financials proposed USD1 Stablecoin: https://www.reuters.com/technology/trumps-world-liberty-financial-crypto-venture-says-it-will-launch-stablecoin-2025-03-25/   Join us for our next CU Town Hall- Wednesday April 9 at 3pm ET/Noon PT- for a live and lively interactive conversation tackling the major issues facing credit unions today. The Town Hall is free to attend, but advance registration is required:  https://www.cutownhall.com/  Join us on Bluesky!  @bigfintech.bsky.social;  @154advisors.bsky.social (Glen); @jbfintech.bsky.social (John) And connect on LinkedIn for insights like the Friday Fintech Five: https://www.linkedin.com/company/best-innovation-group/  https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

The Trump administration unexpectedly targeted the Community Development Financial Institution Fund, touching off concern among bankers and their representatives that the bipartisan program could be eliminated. Ryan Tracy, who covers financial regulation and banking for Capitol Account, explains what happened, why, and the future of CDFIs. We also discuss the latest legal maneuvers surrounding the CFPB, what Fed Gov. Michelle Bowman's nomination as vice chair for banking supervision means for community banks and more.

Glen connects with the Defense Credit Union Council's Jason Stverak to discuss the dual threats- not-for-profit tax treatment and CDFI designation- facing the industry, and the bizarre misrepresentations surrounding each. Also- Klarna's IPO parade, and an acclaimed entry in the Credit Union Film Festival.      Links related to this episode:   The Defense Credit Union Council: https://www.dcuc.org/   Jason's CU Insight article on the tax issue: https://www.cuinsight.com/banks-tax-hypocrisy-will-hurt-main-street-not-credit-unions/   CU Strategic Planning President Stacey Augustine's article on CDFIs: https://thecudaily.com/cdfis-the-impact-is-obvious/   Don't Tax My Credit Union website: https://www.donttaxmycreditunion.org/#take-action   This month's GAC interview with Americas Credit Unions' Economic Team: https://www.big-fintech.com/a-taxing-week-in-washington/   “The Barber of Little Rock”: https://www.youtube.com/watch?v=1amOPUn49aM   Fintech Business Weekly's coverage of Klarna's IPO filing: https://fintechbusinessweekly.substack.com/p/klarna-files-ipo-paperwork-puts-pr    Join us for our next CU Town Hall- Wednesday March 26 at 3pm ET/Noon PT- for a live and lively interactive conversation tackling the major issues facing credit unions today. This session will feature cyber defense evangelist Roger Grimes on quantum computing and his latest book about combating social engineering/phishing. The Town Hall is free to attend, but advance registration is required:  https://www.cutownhall.com/  Join us on Bluesky!   @bigfintech.bsky.social  @154advisors.bsky.social (Glen)  @jbfintech.bsky.social (John) And connect on LinkedIn for insights like the Friday Fintech Five: https://www.linkedin.com/company/best-innovation-group/  https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Send us a textCliff Rosenthal literally wrote the book on CDFIs, community development financial institutions.  Hear his story in this podcast that dates back to 2019, episode 37 in the vaults.  Rosenthal was on the show last year - episode 311 - talking about a new book he co-authored with Michael McCray entitled Community Capital. It's part Rosenthal autobiography, part the sgtory of the death - the murder? - of an African AMerican credit union.  Hard hitting stuff.But the story starts here, in episode 37 and it now is our Greatest Hit  #24Listen up

Send us a textIn this episode of Badass Women in Business, we sit down with the unstoppable Madeline Reeves, Founder & CEO of Fearless Foundry. A fierce advocate for equity, transparency, and financial empowerment, Madeline shares her unfiltered journey—from struggling to balance ambition with life, to building a million-dollar business without the fairy tale myth of overnight success.She challenges outdated funding narratives, explains why women should be charging more, and dismantles the scarcity mindset that holds female founders back. We dive deep into pricing strategies, funding hacks, and how embracing community—not competition—is the key to growth. Plus, Madeline drops some serious truth bombs about corporate structures, burnout, and how she completely redefined the way she runs her business.This episode is a must-listen for any woman in business who's tired of playing small, ready to own her worth, and looking for real strategies to scale without sacrificing herself in the process.

  In the first week of a presidential administration marked by executive actions banning the education of Air Force members about the Tuskegee airmen, freezing scientific research grants at the NIH, immigration raids intended to fast-track deportation and the purging of DEI programs across federal agencies, remember that it is the nonprofit sector that continues to move democracy forward. In this episode of Power Station, we speak to Amir Kirkwood, CEO of Justice Climate Fund and a leader in the movement for climate and community-centered financing. Justice Climate Fund was awarded $940m, as part of President Biden's 2022 Inflation Reduction Act, to ensure the deployment of capital, primarily through CDFIs and nonprofit loan funds into communities plagued by generational disinvestment in housing, community facilities and public water systems. Amir brings deep experience, from executive positions in CDFIs, national and global banks to now leading the deployment and leveraging of capital into vulnerable communities. He shares how Justice Climate Fund and its community partners are meeting the moment to invest equitably and purposefully. As Amir says, this is forward-looking work with stories of success that need to be told. Let's amplify these stories whenever and wherever we can.    

Brian Love, Head of Banking & Fintech at Travillian, chats with Tom Ogaard, CEO of Native American Bank, about their efforts to boost economic opportunities in Native American communities. Native American Bank partners with other native loan banks and non-bank native CDFIs to bring financial services to reservation-based communities. They focus on projects such as healthcare facilities, housing, and economic development, aiming to create new jobs and improve the economic opportunities for tribes and tribal communities. Learn more about how Native American Bank is driving change through these strategic partnerships and innovative projects. Topics Discussed: Native American Bank's Mission and Access to Capital Projects and Partnerships with Native Loan Banks and CDFIs Addressing Housing, Health Care, and Economic Development Needs Key Issues in Native American Communities Optimism for the Future

In recent years several foundations have taken the lead in incubating new ideas around equity, environmental justice and U.S. community finance. One team that has taken a unique look at public finance and quietly and effectively changed the way municipalities approach health and outcomes is the Robert Woods Johnson Foundation. One of the impact project managers that is part of the team doing this is Zoila Jennings. We had the opportunity to sit down with Zoila and chat all things impact and learn a little bit more about what motivates her. Whether it is CDFIs as an asset class or liberation theology - we've got you covered in this week's Off the Cuff. This episode was edited by Adam Linder of Bespoken Podcasting. Enjoy!

Today, I'm excited to speak with Brian Argrett, Chair of the Board Directors and President and CEO of Broadway Financial Corporation and its banking subsidiary City First Bank, the largest Black-led minority depository institution (MDI) in the nation. Impact investing is an increasingly important topic for enterprise families and family offices. Our conversation today focuses on a truly unique and attractive avenue for positive impact available to enterprise families and family offices, which is made possible thanks to the Advancing Communities Together Deposit Program, or ACT – an innovative program that provides an easy and fully insured way for family offices to invest their excess cash directly in the financial institutions dedicated to lifting up communities in need. Brian describes the greater goals of the ACT program, why it is needed, what the issues or challenges it is meant to address, and what opportunities it is designed to unlock. The ACT Deposit Program was launched in the summer of 2024 by the national trade associations representing Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). Brian explains how the ACT program works and defines the role of CDFIs and MDIs in delivering the intended impact and benefits of the program. He shares his views on why this program has strong appeal to family offices and enterprise families. Delving into the practical details of how the ACT program functions, Brian details the mechanics of the program, including some of the key elements family members and family office executives should be aware of, such as minimum deposits, interest rates earned, minimum maturity, etc. Brian also talks about what families and family office leaders can do to get involved with and take advantage of the ACT program. He offers an overview of existing resources and tools for them to get educated and ready to participate and contribute to the positive impact of this program. Enjoy this timely and informative conversation with a leading champion of the ACT program and long-time thought leader and practitioner in the impact banking space.

This is the Women of Influence Podcast series, delivering next level insights and expertise live from GlobeSt.'s Women of Influence Conference.The Women of Influence Podcast Series is an exclusive mini-series of The Crexi Podcast, an insider's look at all things commercial real estate, produced in collaboration with GlobeSt. The Crexi team visited Women of Influence and recorded in Lake Tahoe, California, from the floor of the conference, highlighting movers and shakers in commercial real estate. The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Shanti Ryle sits with DeLea Becker, Founder and Owner of Beck-Reit Commercial, and Barbara Morrison, Founder and President of TMC Financing, to cover wide-ranging topics, including:Introduction to The Crexi PodcastMeet DeLea Becker: Background and AchievementsDeLea Journey into Commercial Real EstateNavigating the Great RecessionTransition to Commercial Real EstateThe Importance of Long-Term VisionEmpowering Women in Commercial Real EstateAdvice for Aspiring InvestorsConclusion and Contact InformationMeet Barbara Morrison: A Pioneer in Small Business AdvocacyThe Journey of TMC FinancingExpanding Impact: Working Solutions and TMC Community CapitalBarbara's Early Career and Civic LeadershipBarbara's Path to Commercial Real EstateUnderstanding the SBA 504 Loan ProgramTrends and Insights in Small Business Real EstateAdvice for Aspiring Women EntrepreneursConclusion and How to Connect with Barbara About DeLea Becker:DeLea Becker is the Founder & Broker of Beck-Reit Commercial & Beck-Reit Asset Management. In addition, she owns with her husband, a 25-year-old Heavy Highway Civil Construction Company, Beck-Reit & Sons, Ltd which specializes in TxDOT road & bridge repair.Her experience in Commercial Real Estate started as an investor and developer. She has vast knowledge in the greater Austin area real estate market with expertise in East Austin. She seeks to purchase Income Producing Properties across Texas, Vacant Properties to tenant in Central Texas, and Old Buildings to gut and rehab in Austin Texas. She lowers her risk exposure in investing by having her companies manage all aspects - Brokerage, Property Management & Construction. DeLeas's focus is growing her personal CRE portfolio while the majority of her brokerage clients are serviced by Brokers she has working for her company.DeLea actively champions women with careers in Commercial Real Estate to become active investors with their knowledge and expertise. Real Estate has proven through history to be an excellent path to growing wealth, DeLea is adamant that women get in the game.DeLea is a member of many professional organizations that are specific to Commercial Real Estate and Business. She has been honored with awards from Austin Business Journal, Bisnow, CREW, CCIM, WRECONF, CREi Summit, Otso Influencer, and the National Association of Realtors.About Barbara MorrisonBarbara Morrison, a Bay Area small business advocate and civic leader, is the founder and president of TMC Financing, a certified Development Company that provides SBA commercial real estate financing.In 1981, Barbara founded TMC Financing to provide access to affordable capital with the SBA 504 loan program for small business owners to purchase the real estate utilized by their business. From just 6 employees lending in the 9 Bay Area counties, TMC has grown into the largest CDC in the nation, providing financing for small businesses in California, Arizona, Nevada, Oregon, and Hawaii.  Under her visionary leadership, TMC has facilitated over $14 billion in SBA commercial real estate loans for over 7,000 small businesses, leading to the creation of an estimated 60,000 jobs.Recognizing the needs of smaller entrepreneurs, not able to take advantage of the 504 program, Barbara expanded her impact by founding Working Solutions a Community Development Financial Institution (CDFI), in 1999. This initiative addressed the financing gaps faced by start-ups, women, minorities, and low-income businesses unable to access conventional funding sources. Working Solutions was “incubated” in the TMC office until it grew into self-sufficiency.  Today, it is one of the most successful CDFIs in the country.In 2018, repeating the method of incubating another nonprofit, Barbara founded TMC Community Capital (TMC CC), an online, technology-based microlender. Since its inception, TMC Community Capital has disbursed over $7 million to approximately 350 businesses, providing crucial support to under-served entrepreneurs. Notably, 82% of the loans facilitated by TMC CC supported entrepreneurs of color, while 56% benefited women-owned businesses and 75% aided business owners with low-to-moderate income levels.Morrison developed her passion for small business economic development early in her career while serving as deputy director of the Mayor's Office of Economic Development in San Francisco.A former mayor and city council member for the city of Belvedere, Morrison has been widely recognized for her advocacy for women and small business owners, as well as the leadership she provided for many community organizations.Currently, Barbara participates in several influential organizations, including the Oakland Chamber of Commerce and the International Women's Forum (IWF). Her engagement in these organizations reflects her ongoing commitment to fostering economic growth, supporting entrepreneurship and helping local communities grow and thrive.About GlobeSt. Women of Influence: The Women of Influence Conference is an exclusive two-day event that celebrates the women who drive the commercial real estate industry forward. These influential leaders will discuss the critical issues facing CRE now and in the future, what it means to be a woman in business today and how women CRE leaders can uplift and support each other on their journey to the top.  If you enjoyed this episode, please subscribe to our newsletter and enjoy the next podcast delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse 500,000+ available commercial properties for sale and lease. 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In honor of Hispanic Heritage Month, we're re-releasing this insightful episode with Natalia Rodriguez-Hilt, Senior Director at Raza Development Fund (RDF). Natalia discusses how RDF unlocks the $2.1 trillion revenue potential of Latino-owned businesses through creative financing solutions, including equity-like revenue-based loans. She also highlights the crucial role of Community Development Financial Institutions (CDFIs) and the importance of empowering under-resourced entrepreneurs to drive meaningful economic change.

In this episode of Capitol Gains, hosts Matt Posner and James McIntyre explore the pivotal role Community Development Financial Institutions (CDFIs) are playing in driving the clean energy transition. As CDFIs shift from their traditional focus on affordable housing and small business lending, they are stepping up to help deploy billions of dollars from the Greenhouse Gas Reduction Fund (GGRF) under the Inflation Reduction Act. Joining the discussion is Oswaldo Acosta, CEO of City First Enterprises, who shares insights on how CDFIs are uniquely positioned to democratize access to the green economy. Acosta explains how CDFIs, with their deep community ties, are bridging the equity gap in clean energy finance, ensuring that historically underserved communities can benefit from the clean energy revolution. Throughout the episode, listeners will hear about the challenges and opportunities CDFIs face in scaling up for this new role, including developing innovative financial products, navigating federal regulations, and building partnerships with commercial banks and private investors. The views expressed are solely those of the hosts and do not necessarily reflect the views of their employers or other associated parties. Adam Linder of Bespoken Podcasts edited this episode.

As storms and fires keep coming, emergency loan funds from CDFIs are helping low-income communities get back on their feet.

In America, small business and entrepreneurship is venerated and often romanticized in popular culture and by the media and politicians. But for aspiring entrepreneurs who are not wealthy or well connected, starting a new business is fraught with challenges and inequities. The data reveals that 85% of our businesses are microenterprises, companies of five or fewer people, launched with $50k or less, often without access to traditional bank products and capital. Unlike tech guys launching a start-up with Silicon Valley investments, these entrepreneurs are often people of color striving to build wealth, generate family legacies and create jobs. What they need, from coaching to capital and community can be found in The California Association for Micro Enterprise Opportunity (CAMEO), a powerful network of 400 CDFIs, community lenders, small business and women's business centers that make success possible for those whom banks do not serve. In this episode of Power Station, Carolina Martinez, CAMEO's exceptional CEO, shares what it takes to build a thriving ecosystem of support for entrepreneurs of color, including policy advocacy and an insistence on corporate accountability. Do not miss this masterclass on how change is made.    

Natalia Rodriguez-Hilt is the Senior Director of UnidosUS Affiliate Development and Small Business Strategies at Raza Development Fund. Natalia is a seasoned expert in economic and community development, with a passion for driving economic opportunity for entrepreneurs in underrepresented communities. We discuss how RDF unleashes unleash the power, potential and promise of Latino and other under-resourced communities to accelerate the $2.1 Trillion Dollar incremental revenue potential of Latino-owned business. WE talk about the need for creative financing to enable that growth (such as Equity-Like revenue-based loans), the role of CDFIs and how to empower entrepreneurs to ignite change.

America's green bank – officially known as the Greenhouse Gas Reduction Fund – is ramping up. Thanks to the Inflation Reduction Act, the federal government is sending $27 billion to a network of non-profit organizations, state green banks, and local private lenders to fund distributed energy projects.  The pressure is on to invest those dollars quickly and efficiently. The GGRF won't be considered successful if it only deploys that $27 billion – it will be successful if it catalyzes 5x more in capital deployment.  That means building a transparent market with uniform lending standards for CDFIs and local banks – lenders that may be touching solar, storage or other distributed energy deals for the very first time.  The money is headed out the door. Are lenders ready to deploy it?  This week, we're featuring a conversation with Amanda Li of Banyan Infrastructure and Billy Briscoe of the Clean Energy Fund of Texas. It was recorded live as part of Latitude Media's Frontier Forum series.  We'll unpack the details, the urgency, any potential gaps, and the stakes for building a market. This episode was produced in collaboration with Banyan Infrastructure. Read more of Banyan's insights into the GGRF here.

In this episode, Andrea Longton, a distinguished author and seasoned social justice investor, shares her wealth of knowledge from years of experience at the crossroads of finance and impact. She discusses her work on renewable energy projects in Africa and her strategic shift to community development finance in the U.S. Why Take a Listen: 1. International Development Financing    - Andrea's Career Journey: Explore Andrea's diverse career, from international project development to domestic financing. She provides a detailed look into sustainable energy projects and community-centered financial solutions.    2. Community Development Financial Institutions (CDFIs) & Social Justice Investing    - Role of CDFIs: Understand the pivotal role CDFIs play in underserved communities and how social justice investing can drive both social and climate justice outcomes. Andrea highlights key mechanisms such as community loan funds, venture capital, and crowdfunding.    3. Networking & Professional Relationships for Social Impact Careers    - Building Strong Networks: Andrea shares essential advice on cultivating professional networks in social change sectors. She emphasizes aligning authentically with an organization's mission and how effective networking can open doors in social justice finance. 4. Advice for Aligning Finance and Values    - Balancing Financial Returns and Impact: Andrea offers insights on how to balance financial returns with impactful investments that align with your values. Learn strategies to ensure your financial decisions support both personal and societal goals. This episode is filled with practical tips, real-world examples, and inspiring insights. Don't miss out on Andrea Longton's journey and expert advice on merging financial returns with impactful, justice-driven investments.   Check out her website, podcast and Book the Social Justice Investor Bio: Andrea Longton is an award-winning author and professional social justice investor. She has raised over $1 billion for social justice investments in the United States and has advised on another $1.5 billion worldwide. In addition to her professional experience, Andrea manages her family's finances, including their own social justice investment portfolio. Her professional experiences include positions at Opportunity Finance Network, Freddie Mac, Capital Impact Partners (now Momentus Capital), and Delphos International. Andrea holds the Chartered Financial Analyst (CFA) charterholder designation from the CFA Institute (Charlottesville, VA), a BA from Centre College (Danville, KY), and an MA from The George Washington University (Washington, DC). Andrea is the founder and author-administrator of "The Social Justice Investor" website and cohost of "Renegade Capital: The Activist's Podcast for Finance and Investments." She lives in Maryland with her husband and three children  

Ever think about what your bank is doing with your cash? Whether your bank uses the cash in your checking and savings account to fund fossil fuel companies or gun manufacturers, the reality is that the banks are using their own set of societal values to deploy our cash every single day.In today's episode, let's talk about community focused, mission driven banks that might actually share your values! The cash sitting in our bank accounts can be used to fund affordable housing in our communities, or to inject cash into small businesses that have traditionally been locked out of traditional capital.The point is, we have options! Tune in this week to learn more!Links from today's episode:Understanding CDFIs and their impact | JP Morganhttps://www.jpmorgan.com/insights/real-estate/community-development-banking/what-is-a-community-development-financial-institution-cdfi Banks Can Deliver Both Social Impact and Profits. Here's How | Boston Consulting Grouphttps://www.bcg.com/publications/2023/balancing-social-impact-and-profits-with-bankingICYMI another episode you might enjoy:Episode 31 (recorded before the 2024 rebranding of this show) https://pod.link/1577031108/episode/ae16a1239e052b0da35e0eb6e8999e99 Connect With Genet “GG” Gimja:Website https://www.progressivepockets.comTwitter https://twitter.com/prgrssvpckts Work With GG:Email progressivepockets@gmail.com for brand partnerships, business inquiries, and speaking engagements.Support the show

In this episode, host David Ponraj is joined by Tarsha Hearns, Sr. Director at The DEC Network in Dallas, TX. Together, they shared the progress of our exciting, collaborative initiative to support underrepresented founders in Dallas. The Dallas-based Entrepreneur of Color Credit Enhancement Fund study was launched in 2023 with an anticipated fund implementation in the fall of 2024. This fund is a partnership between The DEC Network and Economic Impact Catalyst, with generous support from JPMorgan Chase, Bank of America, Kellogg's Foundation, and TD Jakes Foundation. Tarsha Hearns knows these challenges all too well. As an entrepreneur of color herself, she has lived the same struggle to access capital holding back so many others. During a recent conference session, Hearns provided raw insight into how DEC is working to change the status quo for diverse founders in Dallas. As Hearns explains, DEC undertook extensive research to unpack why so many minority and women entrepreneurs in the city could not access loans or investments. They conducted focus groups, surveys, and outreach to both business owners and the ecosystem meant to serve them.The findings revealed a complex web of disconnects that contribute to capital gaps in Dallas's historically underserved neighborhoods. Many local community development financial institutions (CDFIs), despite a mission to provide equitable funding access, were still rejecting minority applicants at concerning rates. This is often tied to issues like low credit scores or lack of traditional collateral -systemic barriers that disproportionately impact entrepreneurs of color.Faced with this reality, The DEC spearheaded the creation of a novel, ecosystem-based solution: the Inclusive Entrepreneurial Capital Initiative. Recognizing the need for alignment, this initiative brought CDFIs and banks together with small business support organizations on the front lines in underserved neighborhoods.The fund plays a crucial role in promoting equitable access to funding by offering tailored lending, products, and programs that address the unique capital access gaps that exist for entrepreneurs of color, while recognizing the specific needs and concerns of the Dallas entrepreneurial community. The Dallas Entrepreneur of Color Credit Enhancement Fund is at work to shape the next generation of diverse entrepreneurs.The DEC website: https://thedec.co/ Recent Press about the Fund: https://dallasinnovates.com/bank-of-america-supercharges-the-dec-network-mission-with-120k-for-entrepreneurs-of-color/ Connect with Tarsha Hearns: https://www.linkedin.com/in/tarshapolkhearns/

Jeffrey Mosher welcomes Jennifer Hayes, Senior Vice President, Operations & Policy from Invest Detroit Jennifer and Jeffrey had a discussion about the Michigan CDFI Coalition. Michigan Community Development Financial Institutions (CDFI) Coalition is celebrating its one year of operations. The coalition is committed to providing financial resources to underserved borrowers and supporting economic growth in Michigan. Here are some key talking points to highlight the achievements and goals of the Michigan CDFI Coalition: Jennifer could you tell the Michigan business community about the Mission and Objectives of Michigan CDFI? MICDFI Coalitions' overall mission is to increase awareness of CDFIs, expand programming to support more borrowers, businesses, and projects, and continue to support economic growth throughout Michigan. What's the Role of CDFIs? CDFIs as mission-based lenders, providing flexible and affordable financing to underserved communities, small businesses, and affordable housing projects. CDFIs are particularly integral in reaching borrowers who often cannot access traditional bank financing. What's the Impact in Michigan? To date, Michigan's CDFIs have deployed more than $4 billion in loans throughout the state and have made the following impact: ● Created almost 30,000 permanent jobs ● Developed almost 23 million square feet of real estate ● Over 14,000 total housing units, 72% affordable ● Supported over 7,000 small or micro-businesses ● Created the largest state CDFI fund in the nation with $85 million to date. CDFIs also played a significant role in providing Michigan small businesses and nonprofits access to the Small Business Administration's Paycheck Protection Program (PPP) forgivable loans and serviced $1.5 billion in loans, preserving 165,000 jobs. In FY 2021, MI CDFIs deployed $1.4 billion in loans. ● Michigan CDFIs support several areas of the economy including: ○ Small and Micro-Businesses. ○ Single, Multi-Family, and Affordable Housing. ○ Real Estate and Mixed-Use Projects. ○ Consumer Loans and Banking Products. ○ Non-Profit Projects, and more. ● MICDFI Coalition has been integral in the Small Business Administration's Paycheck Protection Program (PPP) forgivable loans during the COVID-19 pandemic. ● Have supported small businesses and nonprofits statewide through the servicing of $1.5 billion in loans. Tell us about Statewide Support and Advocacy? MICDFI Coalition has had support from the following organizations and individuals: ● State Senator Mary Cavanagh, CEED Lending, Chi Ishobak, Cinnaire, Core Community Partners, Detroit Development Fund, Grow, Invest Detroit, Michigan Community Capital, Michigan Credit Union Foundation, Michigan Women Forward, Northern Shores Community Development, Inc., Northern Initiatives, Opportunity Resource Fund, ProsperUs Detroit, Rende Progress Capital, Venture North, Capital Impact Partners, Community Economic Development Association of Michigan, ELGA Credit Union, IFF, Michigan Assistive Technology Loan Fund. And if the listeners care to learn more About Michigan CDFI Coalition how might they do so? The Michigan CDFI Coalition was founded in 2022 with a mission of bringing Michigan CDFIs together to collaborate on the development of inclusive policies, deliver vital programs, and bolster their efforts in community investment across the state of Michigan. Prospective Michigan CDFI partners, communities, and individuals can learn more about the Michigan CDFI Coalition by visiting www.micdfi.org. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN's YouTube: www.youtube.com/channel/UCqNX… » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/

On this 300th episode of Power Station, I am joined by my friend and colleague John Holdsclaw. Over the twenty plus years I have known John he has excelled as an organizer, public policy advocate, and leader in financial services that deepen racial and economic equity in under-resourced Black, Latino, Indigenous and AAPI communities. John launched Rochdale Capital, an emerging CDFI, with its strategic partner, National Cooperative Bank, to provide capital to enterprises, from affordable housing to health centers and grocery stores, structured as cooperatives and other forms of shared ownership. He views CDFIs not as an industry but as a movement that uplifts communities traditional banks have failed to serve. Take Rochdale's investment in a line of credit for All-In Groceries, a store that was 58 years in the making in Waterloo, Iowa's East Side, a neighborhood marginalized by decades of redlining and racism. This is the community and life-changing work that motivates Rochdale Capital's fully engaged staff and board of directors. And John announces our thrilling partnership, Power Station powered by Rochdale Capital. Expect more stories from leaders who invest financial and human capital to build community, influence and power.

In this episode of the Four Degrees to the Streets podcast, hosts Nimo and Jas interview Natasha Dowell, a Loan Officer at a Community Development Financial Institution (CDFI) located in the Southeast US. Natasha has over a decade of public health experience and is passionate about bringing to life community development projects that advance health equity. Her public health experience covers a wide range including behavioral health, nutritional and physical fitness, maternal and child health, and foodborne outbreaks. Natasha brings her planning and public health training as a lender for a variety of projects, including charter schools and affordable housing developments.Press play to hear:Natasha's background and career path as well as what community development means to her and why it is critical for Black people in the USThe intersection of public health and the planned + built environment that results in increased access or lack of opportunitiesThe lifecycle of a CDFI project and how an organization makes final decisions. She also shares her hot takes on the biggest problems facing cities and potential solutionsThis episode provides valuable insights into community development and the role of CDFIs in urban planning. Natasha's experience and expertise make this episode a must-listen for anyone interested in community development and urban planning. Feel free to visit the CDFI 101 Toolkit to learn more about the industry.Thank you for listening and tune in every other Tuesday where Nimo and Jas keep it Four Degrees to the Streets.Follow us on X and Instagram @the4degreespod.Or send us an email to connect with us!ResourcesRobert Wood Johnson Foundation | What makes a long life?

S3 Ep 3 | According to a new study, Black and Hispanic real estate developers together make up less than 1 percent of their industry. This gap in the real estate industry isn't just a representation crisis, it's also a huge missed opportunity – the study estimates a more diverse industry could create more than $100 billion in new revenue. Investing in systemic change could close this gap and actually bring lasting economic growth to many communities. US Bancorp Impact Finance, a subsidiary of US Bank, has taken a lead role in addressing systemic issues by investing in community development across the nation. In this episode Miranda Walker, US Bancorp's Affordable Housing Impact Capital Manager, shares how they are creatively working with CDFIs and BIPOC led developers to uplift local communities.About Miranda.Miranda Walker joined U.S. Bancorp Impact Finance in 2022. In her role as impact capital manager, Miranda focuses on deploying capital to emerging developers of color. Prior to joining U.S. Bancorp Impact Finance, she managed the development of affordable housing in the Twin Cities. Her nearly 15 years of development experience involved feasibility analyses, site acquisition, entitlement, design development, construction management, financial modeling, tax credit application and financing, and permanent financing conversion. In addition to her affordable housing work, Miranda has served as a Planning Commissioner for the City of Brooklyn Park and as a volunteer for Hands On Twin Cities and Habitat for Humanity. Currently, she serves on the board of Alliance Housing and provides advisory support for Twin Cities LISC. Miranda earned a B.A. in Studies of Cinema and Media Culture and a Master's in Urban and Regional Planning from the Humphrey School of Public Affairs at the University of Minnesota.Renegade Capital Tools & Tips.A renegade not only listens but acts. We've consolidated a few tips from this episode for taking action to increase diversity in real estate development.Invest in diverse and emerging developers: There are opportunities for investors at every level to use capital to support diverse and emerging real estate developers. Everyday investors can open accounts and place deposits with banks that drive this work, like US Bank and local CDFIs. Institutional investors, other developers, and philanthropists can look for partners and initiatives already committed to this work. Find the diverse developers in your community: Grove has published a map and directory of Black and Hispanic developers to assist those who want to connect and do business with these developers. Learn about the ongoing work in your own community and stay up to date on the current issues they face. Invest With US Bancorp Impact Finance: If your organization wants to expand its investment portfolio to include real estate that supports developers and communities of color, contact US Bancorp Impact Finance to learn how you can drive systemic change.Support the showLove the podcast? Subscribe and follow to never miss an episode.Linkedin | Twitter | Facebook | Instagram | Join our mailing list

Darlene works as a Business Solutions Officer for the Carolina Small Business Development fund, a community development financial institution (CDFI) providing technical assistance and funding to small businesses across the state. Prior to joining CSBDF, her career has included working with Self-Help and the NC Rural Economic Development Center, also CDFIs within NC.With a penchant for small business Darlene pursued her own entrepreneurial dream by owning and operating an Edible Arrangements franchise for 12 years with locations in the Durham and Raleigh markets. Prior to joining CSBDF, she served as an Adjunct Professor with Durham Technical Community College and North Carolina Central University.Darlene has a Bachelor of Arts degree in Political Science and Economics from SUNY Old Westbury, and as a Woodrow Wilson Fellowship recipient, Darlene obtained a Master of Science Degree in Urban Policy Analysis and Management from the New School of Social Research in New York. She is currently a doctoral student at UNC Charlotte - Belk School of Business where she is pursuing a degree in business administration. Her research interests include exploring the resiliency of women-led organizations in the wake of the digital age.

There's much excitement out there about regenerative and organic agriculture, but how can they be financed and how can capital providers support these important approaches to agriculture? A new report by the Croatan Institute addresses this issue by emphasizing soil wealth areas. So, what does this mean? Well, we're going to learn about that from researcher Jamie Silverstein, an author of that report. Interview Summary So, let's begin with this. How is farm financing usually done and how does it come up short in this context of regenerative agriculture? Sure. A lot of conventional farm financing comes from local banks and farm credit branches in the form of debt, operating loans, and lines of credit. These lending instruments tend to favor farms that grow commodity crops or raise animals in conventional ways. The farms often have a history of farming. They may come from farm families, they may have established relationships with these lenders and they're practicing agricultural systems that are very common and known, and the models have been proven out. The lenders are very familiar with these models. Regenerative and organic farms often have diversified systems. They're growing lots of different crops. They may be beginning farmers who don't have a long history of farming or come from farm families. All these factors make them perceived as riskier to the lenders. The other aspect of regenerative and organic agriculture is that they often are operating on longer time horizons. The implementation of these practices or transitioning to organic agriculture may take a longer time and may need more time to repay back a loan. Often traditional lenders are not as familiar with these systems or don't have the flexibility to extend the loan repayment times. Okay, that makes sense. So, there needs to be some ingenuity here because the traditional models aren't applying. Can you tell us what a soil wealth area is? It's a very interesting term. Sure. We define soil wealth areas as special purpose soil wealth improvement districts that act as magnets for investment in regenerative agriculture. I can break that down a little bit, starting with the word soil wealth. We coined that term in a 2019 report and it really encompasses both the environmental and social benefits of sustainable regenerative organic agricultural practices. A lot of people are familiar with the word soil health. So, that is building soil health. It's improving biodiversity, improving ecosystem services. But the other really important aspect is the people side the social side. So, how do we build social equity through these agricultural practices? How do we build wealth in rural communities, create resilient landscapes, healthier environments to live in? Looking at the term 'area,' we're referring to a district model that is actually pretty common in agriculture. There are conservation districts that have been established by USDA, NRCS, there are farmland protection districts and economic development districts. So, the reason behind why we're prioritizing this sort of place-based approach is that we think places is actually really important, and this helps build trust with the communities and the practitioners in these soil wealth areas. It helps to prioritize culture and heritage, social connection and the community dynamics of that region. So, the soil wealth area is a region or a a district that connects both capital providers with the capital seekers on the ground - so agricultural producers or value chain businesses - and it also can provide resources like agronomic technical assistance or business and financial readiness, technical assistance which also is really important in terms of the viability of these place-based businesses. It's a very appealing concept because there's a lot more going on in a community or about district of land than just the number of bushels per acre. You're pointing to not only the soil health, but to the health and wellbeing of the people who live there and work there and things like that. It's a very interesting and and holistic concept. So, given this broad focus of this concept of a soil wealth area, how can financing be done differently? That's a great question. I think financing can be done differently in a lot of different ways. There's not really a one size fits all when it comes to financing regenerative organic businesses. So, I can provide some examples of what that looks like. Sometimes it's one particular type of finance and sometimes it's lots of different types that are blended together. This could look like a low interest loan or a loan with flexible repayment terms that may come from a community bank or a CDFI. It could look like a loan guarantee or credit enhancement that actually enables a lender to make a loan they may not otherwise have been able to make potentially because of perceived risk or allow them to reduce the interest rates so that it becomes a little bit more viable for these agricultural producers and entrepreneurs. Through this research, other CDFIs and impact investors and peer-to-peer lending networks have come up with innovative and creative ways of how to finance place-based producers and practitioners. In addition, I think philanthropic capital and grants are also a really important part of this and that they can support farmers and entrepreneurs either directly, or they can help fund technical assistance that really helps support them understand the types of financing they need or makes the lender actually a little bit more confident in making that loan. So, are there steps that can be taken to get to the point where these creative forms of financing are happening? There is definitely the need to scale up this type of financing and access to capital for agricultural producers and value chain businesses. The model that we are proposing is top pair the soil wealth areas, this very place-based component, with a network of capital providers that may not be place-based. They may be national in scope. We want to help facilitate and coordinate these types of relationships. We call this whole ecosystem the Soil Wealth Community. And, then we have what we're calling the Soil Wealth Capital Collaborative. That is the network of capital providers that can come together, learn from each other, and use that network to allow them to expand and increase how much they are providing and able to fund regenerative businesses.  Bio Jaime Silverstein is a Senior Associate at Croatan Institute. She also sits on the board of directors for Metta Earth Institute. Previously, she has worked as a farm business advisor for NOFA-VT; crop R&D specialist for Freight Farms, a Boston-based urban agriculture start-up; program coordinator for Slow Money Boston; and senior research fellow at the Sustainable Endowments Institute, where she led research on responsible investing practices at colleges and universities. She holds a B.S. in Business Administration from Boston University and an MBA from the University of Maine. Silverstein has collaborated on various sponsored research projects addressing finance and sustainability, including “Soil Wealth” (2019) and “Institutional Pathways to Fossil-Free Investing” (2013). She has contributed to outreach and research, surveying institutional investors and money managers for the US SIF Report on US Sustainable, Responsible and Impact Investing Trends.  

$200 billion. That is how much money is in the Greenhouse Gas Reduction Fund and one credit union voice that has been loud in seeking a share is Inclusiv, the trade group for community development credit unions that now has 470 members.Just why is Inclusiv involved in this?Exactly that question is why we invited Inclusiv CEO Cathie Mahon on the show.  She's a past guest - in 2019 she was in episode 15.In this show she offers an articulate explanation of why environmental issues are in fact central to the concerns of community development credit unions.In June Mahon testified before the US Senate Climate Change Task Force where she said, “As credit unions invest in climate solutions, they find strong synergies between increasingaccess to clean energy and improved financial stability. As community owned and controlledfinancial institutions, community development credit unions see both a responsibility andopportunity to make their communities greener and more resilient. These institutions servethose located on the frontlines of climate change, specifically communities with the poorest airquality, highest energy burden and most vulnerability to climate events such as hurricanes,floods, drought, wildfires, and tornadoes.”She has that very right. Often it is the poorest communities that deal with the harshest impacts of climate change.What can credit unions do about this? Lots and lots, as you will hear in the show.  Everything from helping with loans to replace old appliances with energy efficient ones to encouraging job training for minority contractors who want to pursue opportunities in, for instance, installing solar arrays on homes and apartment buildings.Mahon sees many, many ways for credit unions to have positive impacts on their communities.Also in the show she offers comment on attempts in the US House to slash the federal funding for CDFIs - a genuinely dumb idea.And she also talks about Inclusiv's new ties to QCash, the small dollar loan company that has been birthed by the credit union movement to give members a far better alternative to predatory loans.Listen up.Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com  And like this podcast on whatever service you use to stream it. That matters.  Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

In this Rich Black Woman Podcast episode we talk with Ron Brooks, president of River City Capital, a CDFI based in Memphis, Tennessee with a national vision to help small business owners get access to capital to grow their businesses. Did you know what a CDFI is? Do you know that these loan non profit organizations are backed by the U.S. Department of Treasury and are friendly to folks that look like you and me? Say what? Did you know they will help you in getting funded? Coaching you along the way! And then when you get funded they often will provide additional resources to help grow your business through their vast networks? Sounds too good to be true, or sounds like the good news has come and you are now in the know. Consider yourself enriched today! Tune into this valuable conversation about how to approach a CDFI, what to prepare, how not to be intimidated but be prepared to be elevated! A Community Development Financial Institution (CDFI) is a specialized financial institution that operates with a primary mission to support economic and community development in underserved or economically disadvantaged areas. These institutions are designated and certified by the U.S. Department of the Treasury based on their commitment to provide financial services, such as loans, investments, and financial counseling, to individuals and businesses in low-income communities. CDFIs play a crucial role in promoting inclusive growth, offering access to capital for small businesses, affordable housing initiatives, and community development projects that might otherwise struggle to secure funding from traditional financial institutions. By targeting their resources towards underserved communities, CDFIs contribute to building stronger, more resilient local economies and fostering social impact through their financial services and community partnerships. Resources: https://www.ofn.org/cdfi-locator/ to find a CDFI near you Understand what a CDFI is and proof its legit!: https://www.cdfifund.gov/ Check out River City Capital: www.rivercitycapital.org Subscribe to our newsletter: www.richblackwoman.com Leave us a review on Spotify and Apple podcasts and share with 2 besties! #entrepreneurs #cdfis #wealth #smallbusinesses #businesscapital #financialliteracy #richblackwoman #blackwallstreet #capital #womanowned #blackowned --- Send in a voice message: https://podcasters.spotify.com/pod/show/richblackwoman/message

In this episode, join us as we delve into one of the most critical issues faced by small business owners—Capital Access. We're privileged to have Brian Cunningham, an expert from the National Development Council (NDC), shed light on the opportunities available for small business owners to access the capital they need to grow and scale their businesses. Learn about NDC's role as a national Community Development Financial Institution (CDFI) and its extensive experience in housing, New Market tax credits, SBA lending, technical assistance, and training for small businesses. Discover the unique value that CDFIs bring to the table, including specialized support and partnerships with organizations like the SBDC to ensure entrepreneurs have a solid grasp of their financials and the financing options available. Tune in for valuable insights and expert advice on navigating the ever-evolving landscape of capital access.   – Learn more about National Development Council: https://ndconline.org/  For more segments like these, subscribe to Small Biz Florida and Follow the official Small Biz Florida Instagram! This and the following segments were recorded at this year's annual JMI Small Business Leadership Conference hosted at Loews Sapphire Falls Resort.

Did you know there are hundreds of organizations, paid for by the federal government, that exist just to help people create businesses? Even better, many have funding. They're called Community Development Financial Institutions. Follow Brandon Brooks on Twitter & LinkedIn for updates.About SpringTime VenturesSpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $600k. You can learn more about us and our approach.   About Rich MaloyRich's mission is to rebuild the American dream through entrepreneurship. He believes technology gives all people the opportunity to grow, learn and earn. He is a Managing Partner at SpringTime Ventures and the host of the VC Minute podcast. With prior careers in finance and sales, he's been focused on the startup ecosystem for over a dozen years. He's a father of two young children and loves sci-fi, skiing, and video games.  

THis episode discusses the statements made by NCUA about the safety and soundness of credit unions, board actions, and Silicon Valley Bank new. NCUA issues this Board Action Bulletin on the Subordinated Debt Rule:ALEXANDRIA, Va. (March 16, 2023) – The National Credit Union Administration Board held its third open meeting of 2023 and approved a final rule on subordinated debt.In a prepared statement, Chairman Todd M. Harper said, “I support this rule because it facilitates the access of eligible credit unions to the U.S. Department of the Treasury's Emergency Capital Investment Program. Congress created ECIP to support the communities of color and low-income households hit hardest by the COVID-19 pandemic's financial and economic disruptions. With rising interest rates, lingering inflation, and continuing economic uncertainty, under-resourced families and communities face many challenges. ECIP funding is a much-needed boost to these communities, allowing them to address short-term needs and achieve long-term financial stability.”The final rule makes two changes to the current subordinated debt rule that was finalized in 2020. Specifically, this final rule replaces the maximum permissible maturity of subordinated debt notes with a requirement that any credit union seeking to issue subordinated debt notes with maturities longer than 20 years demonstrate how such instruments would continue to be considered “debt.”The rule also extends the regulatory capital treatment of grandfathered secondary capital to the later of 30 years from the date of issuance or January 1, 2052. This extension will align the treatment of grandfathered secondary capital with the maximum permissible maturity for any secondary capital issued by low-income credit unions under the U.S. Department of the Treasury's Emergency Capital Investment Program or other programs administered by the U.S. government.In addition, the NCUA Board approved four minor modifications to other sections of the current subordinated debt rule to make it more user-friendly and flexible.“This final rule ensures eligible credit unions participating in the ECIP or other government-sponsored initiatives providing needed capital can fully benefit from those initiatives,” Chairman Harper said in his prepared statement. “The 30-year, low-cost, patient capital provided through ECIP will be a game changer in under-resourced communities nationwide. And, with this rule change, credit unions that are either MDIs or CDFIs will be well-positioned to advance economic equity and fulfill their statutory mission of meeting the credit and savings needs of their members, especially those of modest means.”The final rule is effective 30 days after publication in the Federal Register.

What is an Office of Rural Prosperity? Both Kansas and Wisconsin have them, and on this episode we talk with the two women charged with running them: Beth Haskovec, from Wisconsin, and Trisha Purdon, of Kansas. Statewide Offices of Rural Prosperity are dedicated to ensuring rural stakeholders are part of the equation, across policy, capital, resource management — and that rural people and places are connected to those programs and pathways that contribute to community prosperity. About our guests Beth Haskovec is the Director for the Office of Rural Prosperity within the Wisconsin Economic Development Corporation (WEDC). In this role, Beth works to advance rural Wisconsin through interagency collaboration and resource navigation. Priorities of the Office include broadband access & accessibility, rural housing, ecosystem building at the local and regional levels, small business & entrepreneurship, and promoting rural culture through placemaking and tourism. Beth comes to the Office of Rural Prosperity from LISC, one of the nation's largest CDFIs, where she oversaw strategies and programs related to access to capital for small businesses across Rural America, Puerto Rico, and the U.S. Virgin Islands. She brings a wealth of expertise in commercial real estate development, commercial corridor development, small business capital, entrepreneurship and initiatives at the intersection of arts and culture and economic development. Originally, Beth is from a one stop light county in rural Iowa. She brings this passion for rural communities and culture to her role as the Director of Rural Prosperity. Trisha Purdon is the Director of the Office of Rural Prosperity in the Kansas Department of Commerce. She attended the University of Kansas where she earned a master's degree in Public Administration with a focus on local government Management and a Bachelor's degree in Social Welfare with a focus on public policy. Trisha has worked as a rural economic developer in both city and county-level leadership roles for over a decade. She grew up in the small town of Kiowa, Kansas, and is a graduate of Chaparral High School in Anthony, Kansas.

Today's podcast is brought to you by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender.Nexus Vision is the only turnkey business intelligence platform designed for mortgage lenders. Nexus Vision gives lenders actionable intelligence -- including visually interactive dashboards, scorecards, and reports -- so they can run their organizations more purposefully and profitably.To learn more about Nexus Vision, visit simplenexus.com.

The fiscal year (FY) 2023 round of the Capital Magnet Fund is now open and the deadline to apply is March 21. The Community Development Financial Institutions (CDFI) Fund plans to award up to $320.6 million to CDFIs and qualified nonprofit housing organizations through the FY 2023 round. Michael Novogradac, CPA, and Novogradac partners Amanda Read, CPA, and Brent Parker, CPA, discuss Capital Magnet Fund basics, an overview of what is new with the FY 2023 application, tips on getting a competitive edge on applications, key deadlines and more.

The fiscal year (FY) 2023 round of the Capital Magnet Fund is now open and the deadline to apply is March 21. The Community Development Financial Institutions (CDFI) Fund plans to award up to $320.6 million to CDFIs and qualified nonprofit housing organizations through the FY 2023 round. Michael Novogradac, CPA, and Novogradac partners Amanda Read, CPA, and Brent Parker, CPA, discuss Capital Magnet Fund basics, an overview of what is new with the FY 2023 application, tips on getting a competitive edge on applications, key deadlines and more.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know its true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color.My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode youll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going! Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!) Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say dont keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others.Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com.Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn.Join me next Friday for another episode.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know its true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color.My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode youll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going! Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!) Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say dont keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others.Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com.Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn.Join me next Friday for another episode.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know its true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color.My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode youll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going! Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!) Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say dont keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others.Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com.Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn.Join me next Friday for another episode.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know its true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color.My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode youll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going! Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!) Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say dont keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others.Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com.Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn.Join me next Friday for another episode.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know it's true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded  intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color. My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode you'll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going!  Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!)  Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say don't keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others. Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com. Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn. Join me next Friday for another episode.

5 Things Women of Color Should Do to Improve Their Access to Capital with Adeola Adejobi S6 Ep. 3As women, we know it's true. Women more broadly, women of color in particular and Black women especially have less access to capital and face compounded  intersectional challenges in business.. One of the many hurdles is capital access for women of color and Black women in particular. My guest started the Women of Color and Capital Conference, one of the largest convenings of women of color in the US to address access to business capital, finance, and growing wealth for women of color. My guest is Adeola Adejobi, the Founder and CEO of the Avant-Garde Network (AGN), a leading social impact company that creates social and economic impact through a collaborative ecosystem of industry professionals, business leaders, and entrepreneurs. Through AGN she created the Women of Color and Capital Conference, the only conference of its kind where diverse women entrepreneurs & professionals come together to learn about money, finance, capital, and investing from a 360-degree lens.In this episode you'll learn: The major access barriers to capital for women of color What must happen to reduce the barriers to capital for women of color 5 things women of color can do to improve their access to capital; and Key takeaways: Networking is investing in a relationship: Networking is establishing genuine connections over time. People often think that networking is about meeting people and thinking about what you can get from them. Networking is not that! Networking is investing in a relationship so that if and when over time if you need something you have a pool of people that you can call on as a resource to be able to do some of the things you want to do or get the help that you need to get. Women of color grow slower: Due to access barriers WOC grow slower because they spend many productive hours doing all the things themselves that they could outsource to increase productivity and profit. But, due to lack of capital, they are stuck doing all of the work in their business, some of which could be best done by others. Community Development Financial Institutions (CDFI) are good capital sources for early-stage women of color in lieu of big banks. CDFIs have a mission and mandate to CDFIs are mission-driven financial institutions that create economic opportunity for individuals and small businesses. Women of Color Must Increase Their Prices: WOC often charge too little, which impedes profitability, and in turn makes it difficult to get a bank loan or attract angel investors in the early stages. The hardest task is to get to the 6-figure mark for women of color and then to scale to a million. Over 90% of Black women work their day job while running a business. That means that in addition to lack of financial capital they also lack time and currency as well. 5 key things that women of color can do to improve their access to capital: Figure out how you can make more money! Have your financial house in order Work on your pitch Lean in on your community - build your personal board Just keep going!  Do the following to ensure your business is structured for growth: Have your financial house in order Do you tax return and maintain proper bookkeeping Document your business mission statement Have a business plan with projections Generate revenue (this is key!)  Learn more about Women of Color and Capital here: https://www.womenofcolorandcapital.com/Learn more about Avant-Garde Network here: https://www.avantgnetwork.com/Learn about Adeola here: http://www.adeolaadejobi.com/about-1Instagram: https://www.instagram.com/aadejobiesq/LinkedIn: https://www.linkedin.com/in/adeolaadejobi/To my listeners, I hope you enjoyed this episode. I like to say don't keep good content to yourself so if you enjoyed this episode, let me know by rating, reviewing, and sharing this episode with others. Subscribe to the podcast at its home on the ALIVE Podcast Network, here https://wheres-the-funding.onpodium.com/ and here https://bit.ly/wheresthefundingpodcast. Follow the podcast on your favorite podcast streaming platforms like Apple Podcasts, Google Play, Spotify, and more to get notified when new episodes drop.To be a guest or sponsor the podcast, email whereisthefunding@gmail.com. Follow the podcast on Instagram at whereisthefunding_podcast and follow me, your host Michelle J. McKenzie and the show page on LinkedIn. Join me next Friday for another episode.

The banking industry is increasingly leveraging innovations in alternative data to underwrite loans for both consumers and small businesses. This can make a huge impact in communities that Minority Depository Institutions and Community Development Financial Institutions serve.In this episode, Michael Pugh, CEO of Carver Federal Savings Bank, discusses how to support small businesses better and serve communities by developing programs based on improved data analysis.Join us as Jeff and Michael discuss:Roles of MDIs and CDFIs in helping communities grow businessesThe importance of capital access for underserved business ownersUnderstanding the voice and perspective of members who have difficulty accessing capital Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.

“We're a small bank, and it gets more expensive all the time to run a small community bank,” says Andy Anderson, president and CEO of Bank of Anguilla in Anguilla, Mississippi. “As long as we can do this profitably and remain in our community, that's what we want to do. [CDFI] designation has helped us tremendously over the last few years to remain here and serve our community.” In this episode of the ABA Banking Journal Podcast — sponsored by xChange — Anderson discusses why Bank of Anguilla became a community development financial institution. The bank was already doing CDFI work in its rural Mississippi Delta market in two of Mississippi's poorest countries, and Anderson discusses how certification has helped the bank pursue its mission and remain independent. Awards from the CDFI Fund — such as the Bank Enterprise Award — “have become a valuable source of income for Bank of Anguilla,” Anderson notes. Anderson will discuss the role of CDFIs, including banks, in advancing economic inclusion at the ABA Conference for Community Bankers, Feb. 12-14 in Orlando.

This week, host Colbert speaks with Priscilla Sims Brown, the President and CEO of Amalgamated Bank, the largest – and one of the only – union-owned banks in the U.S. We hear how Priscilla is using her position to push forward socially responsible initiatives such as its recently approved petition to create a new merchant category code to better track gun and ammunition sales. She explains how doing good and doing well are not mutually exclusive and offers a look into how she's moved toward mission-focused work with every step of her career. We hear how Priscilla made her way into the financial industry through her insatiable curiosity as a young producer reporting on business. And she walks us through her varied experiences since making the leap into finance, including an 18-year stint at multiline insurance company Lincoln Financial Group and trying to start an annuities business during the Great Recession. Learn more about Priscilla's tenure at Amalgamated Bank here. Check out Colbert's Best Idea for this week, the 1984 film classic The Killing Floor directed by Bill Duke, here.

Darrin Williams, the CEO of Southern Bancorp. in Arkansas, talks about how a huge capital infusion from the Treasury Department's Emergency Capital Investment Program is changing his bank and how similar infusions are impacting fellow community development financial institutions.

Deputy Treasury Secretary Wally Adeyamo on Twenty-one corporations and 3 foundations' public and private investments in community development financial institutions (CDFIs), minority depository institutions (MDIs), and other local financial institutions; supporting entrepreneurship and minority-owned businesses; expanding inclusive and equitable access to credit and other financial services facilitating financial health; and making infrastructure investments that create more community wealth by preserving and expanding affordable rental housing and homeownership in underserved neighborhoods.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy