Community Capital New York, Inc’s Post

Community Development Financial Institutions (CDFIs) are specialized organizations that provide financial services to underserved communities. In Maryland, CDFIs like FSC First offer loans, investments, and financial counseling to help Black and Minority-owned businesses grow and thrive. These institutions play a vital role in providing access to capital for businesses that may face challenges with traditional financing. Have a question about CDFIs? Drop them below or DM us, and keep an eye out for future posts to learn more about CDFIs and their impact on the business community! #CDFIs #BusinessFinances #SmallBusiness #BusinessFunding #BusinessLoan

We are proud to announce that FHLB Dallas has awarded $2 million in Heirs’ Property Program grants to assist 33 organizations in our District. Learn more about the program and see the list of awardees at: https://ow.ly/op1S50UpuA7 These funds will help clear an estimated 560 property titles, prevent future heirs’ property issues for over 1,360 individuals, and provide training and education to more than 5,670 people. 📽️ Watch the video to see how this program is making a difference! With support from FHLB Dallas, Red River Bank partnered with Southeast Louisiana Legal Services to help homeowners like this preserve family legacy, access loans and safeguard their homes for future generations. Together, we’re empowering communities — one clear title at a time. #FHLBDallas #CommunityImpact #DoGood #HeirsProperty #AffordableHousing #GenerationalWealth

Exciting news from our partners at East Bay Community Foundation! Their new Oakland Small Business Resiliency Fund will provide vital grant support for diverse, resilient small businesses in Oakland. These grants (ranging from $5,000 to $25,000) are dedicated to helping businesses thrive and address challenges that limit their growth and threaten their survival, including hiring shortages, lack of affordable commercial space, and barriers to accessing low-cost capital. Applications are open now. Learn more and see if your business qualifies to apply! https://lnkd.in/eEHE_KRX

We’d like to spotlight exciting developments at Constituent Services Worldwide Public Benefit Corporation (CSW), a project funded by City First Enterprises, a borrower in the Broadstreet-managed Black Vision Fund. CSW is a Black-owned Public Benefit Corporation that hosts trainings for unemployed and underemployed populations. With financing from City First Enterprises and the District of Columbia Department of Insurance, Securities and Banking (DISB)’s DC Biz Cap, CSW has acquired and renovated a 6,500 square-foot space now known as “The Consortium.” The newly remodeled building now houses two recording studios for media arts students, a state-of-the-art co-working space and a drug testing lab. The building’s newly launched art gallery helps diversify CSW’s income by providing a rental event space. “The loan from City First Enterprises has allowed us to fuel the entire community,” says Robert Jordan, DBA, President and CEO of CSW. His vision for The Consortium extends far beyond its walls, with plans to replicate this model across the East Coast, creating a network of satellite communities dedicated to workforce training and education. “No one should be excluded from opportunity because of their economic situation,” Jordan emphasizes. “We’re committed to creating pathways for everyone.” The Black Vision Fund (BVF) is a loan fund that uses blended capital—a mix of philanthropic and private sector funding—to build the capacity of community-focused lenders to finance small businesses, especially those led by Black owners and serving communities of color. Broadstreet manages BVF and other funds like it that are designed to generate measurable positive social outcomes alongside financial returns. Learn more about Broadstreet’s fund management work with the Black Vision Fund here: https://lnkd.in/gz26QRMV Keep up the great work, Constituent Services Worldwide Public Benefit Corporation! #pavingwiderpaths #communityinvesting #fundmanagement #impactinvesting

The Small Business Catalyst Fund is a transformative opportunity for small businesses to access capital through grants and loans. Please see below and share with entrepreneurs seeking capital! #entrepreneurship #accesstocapital

Estate planning tips (supposedly from Warren Buffett): 1. Plan Early 2. Consider situations where it could turn into a multi-generation affair (passing on to more than 1 generation on death) 3. Give careful consideration before deciding on trustee and/or trustee supervisor appointments 4. Make timely changes to estate/succession planning 5. Cultivate harmonious and loving relationship so family stays intact after death These succession/planning tips are generally sound, except for the fact that not naming trust beneficiaries as trustee can protect trust/succession assets from creditors if ever your beneficiaries get into a bad debt/creditor situation [or when beneficiaries may need time to move to a tax friendlier location to draw down their inheritance(s)]. Often, clients dismiss the option of getting a professional trustee just because of additional costs (or just due to the notion of keeping it all in the family). #sucessionplanning #Legacy #familyissues #CCPN

A new report from MassINC Policy Center and P2 Advisors LLC finds that Massachusetts' community finance sector — including federally certified CDFIs and CDCs— more than doubled its financing to small businesses in recent years. However, it trails behind other states and will struggle to sustain growth as federal funding wanes. The analysis draws on a detailed survey of the 22 CDFIs and CDCs, including Mill Cities Community Investments. According to Glynn Lloyd, the Executive Director of Mill Cities Community Investments, these new research findings really underscore the potential: "With additional funding, there's an even bigger bang for the buck here in Massachusetts, because CDFIs are the gift that keeps giving. When our customers pay us back, CDFIs continually recirculate those funds and lend them back into the most needed areas. That cycle helps drive growth for small businesses, while at the same time ensuring our commonwealth achieves greater equity." Access report here - https://rb.gy/a3r2hl

Exciting news from East Bay Community Foundation. Their new Oakland Small Business Resiliency Fund will provide vital support for diverse, resilient small businesses in Oakland. These grants (ranging from $5,000 to $25,000) are dedicated to helping businesses thrive and address challenges that limit their growth and threaten their survival, including hiring shortages, lack of affordable commercial space, and barriers to accessing low-cost capital. Read more and spread the word. Brandi Howard Sabrina Wu Kiah Albritton Nicole Carroll

Providing financial literacy and purposefully guiding the next generation is key to preventing the classic 'shirtsleeves to shirtsleeves in three generations' scenario. Many of Alvia’s clients grapple with balancing discipline and indulgence in raising their children, aiming to instil an appreciation for the effort involved in wealth creation. Some Alvia families include their children in the family’s wealth management process early on, fostering a sense of responsibility through education and observation, while others operate a “family bank”, lending money to their kids on commercial terms to encourage financial accountability. At Alvia, we place great importance on trusted, long-term partnerships, thoughtfully selecting clients whose family culture supports the preservation and growth of wealth across generations. As CIO Josh Derrington shares, 'We want to be able to manage the capital through multi-generations. I know if the parents haven’t put the right value set in place, then we are going to be looking for a new client come the second generation.'" Read the full article by Michelle Bowes in The Australian Financial Review. Nathan Robertson, Eddie Barrett https://lnkd.in/gVbyhN4d

🌟 New MassINC and P2 Advisors LLC Report 🌟 As an emerging CDFI, BII participated in this new report that shines a light on the vital role of community capital in Massachusetts. The Commonwealth boasts a thriving community finance sector dedicated to empowering underserved communities and fostering economic inclusivity. With nearly 100 community finance institutions statewide, including 31 federally certified CDFIs and 65 state-certified CDCs (with overlap), these organizations are pivotal in addressing financial gaps across small businesses, housing, and community facilities. Report: https://lnkd.in/eV9mqsbt 📊 Key Findings from the Report: • The sector primarily supports entrepreneurs and small businesses, crucially aiding those from historically underserved groups. • CDFIs face challenges with funding, limiting their reach. • Recent years have seen significant growth, with small business financing doubling from $17.6 million to over $38 million by 2023. 🚀 Strategic Recommendations for Growth: • Increase funding support through state grants, a dedicated CDFI fund and philanthropy. • Increase deployment of alternative financing like lines of credit, revenue-based financing and equity-like investments • Expand CDFI reach through marketing and partnerships with BSOs and banks. Massachusetts' CDFIs and CDCs have a profound opportunity to amplify their impact to help build community wealth. Capitalizing CDFIs is a sure way to empower more small businesses and drive equitable economic growth across the Commonwealth! #CommunityFinance #CommunityCapital #EconomicDevelopment #CDFIs #MassachusettsEconomy #InclusiveGrowth