20 Burst results for "Cdfi"

Representative Nydia Velázquez Is Fighting to Support WOC-Owned Businesses

Our Body Politic

02:00 min | 2 weeks ago

Representative Nydia Velázquez Is Fighting to Support WOC-Owned Businesses

"Go through a little information. That came out in a recent report. It was the small business trends alliance and it found that fewer small business owners of color felt supported by the government's covid relief plans and that even though a majority of small business owners of color voted for president biden. Forty five percent said they didn't belong to or didn't feel represented by any existing. Us political party now Women of color are more likely to be small business. Owners than white women are compared to white men. You're the chair of the house. small business committee. What are you doing to support. Women of color entrepreneurs. Well i have been working. Twelve grass issues of systematic inequities when it comes to fatal policies if there's anything that we saw throughout the pandemic was the fact that the most impacted those in underserved communities way men and minority businesses. Those who dating half free relationship with banks where left behind and under the biden administration will minutely move to change that so what we need to continue to do is to use every tool that we have within the federal government whether it's an infrastructure bill whether is enacting policies or legislation that will allow for the treasury department where we have. Cdfi's mda's those are institutions that are nation base lenders that are rooted in our communities to have an opportunity to work with the small business administration and look at ways where we kinda empower those mission based lenders to have an impact in women owned businesses especially women of colour.

Small Business Trends Alliance President Biden Small Business Committee Biden Administration Government Cdfi United States Federal Government Treasury Department MDA
"cdfi" Discussed on Reveal

Reveal

02:29 min | 3 months ago

"cdfi" Discussed on Reveal

"Look at the ways in which white supremacy and systems are complicit in the financial system. Pass to be one of the systems that we look at. It has to be policy changes and systems changes. If we're actually want to make a difference in the way that they've been functioning for generations reveals. Emily harris brought us that story. It wasn't just traditional banks that got involved in. Ppp loans online lenders jumped into but community lenders largely shut out at the beginning for a variety of reasons then may two months after the program started the trump administration set aside ten billion dollars of p money for community development financial institutions but money is not the only ingredient reveals laura morale followed along with a loan officer at one of these financial institutions in arizona to see what it takes to reach businesses. That large banks leave behind you word. There we go. We're recording so just to start off. Can you introduce yourself of course so my name is mark mckenna and i am a business development officer for cdfi by is your partner. In economic development small business growth and quality job creation. our own products and consulting services are distressed. Donald means we lend in spanish. And that's what mark does he helps. Small businesses get access to capital in the southern arizona community. And i i support that part of arizona when i assume with mark. He's usually wearing a baseball cap. This is the local university of arizona. This is the wildcats okay. And if you live in tucson you're allowed Marks the tucson guy born and raised there. He's of irish and mexican descent. And although his parents spoke spanish he's not completely fluent. I stood spanish. But i just never had conversational spanish growing up but along the years in speaking with people you know i've kind of honed. My skills especially like in banking terminology in Leading terminology so you learn those where then i can roll my rs. So and that helps mark and his team reach out to clients in.

mark mckenna Emily harris arizona tucson Donald Marks mark ten billion dollars southern arizona laura morale one mexican spanish cdfi trump irish two months
"cdfi" Discussed on Beautiful Stories From Anonymous People

Beautiful Stories From Anonymous People

02:26 min | 3 months ago

"cdfi" Discussed on Beautiful Stories From Anonymous People

"Those businesses would never be able to get along at us bay. We need to make sure that we get resources into the hands of those businesses because as you know Faith as an entrepreneur. Most people don't work at large companies. Most people work in small businesses. That is the backbone of our economy so to the extent that we can get resources are accessed. Commitment is about additional twenty five million dollars that were making available to. Cdfi's to get in the hands of these small businesses that's important and then the final pieces are in place in that is about. How do we continue to lead and develop leaders who understand how lead inclusively which in the future understanding issues of inclusion. It's not going to be an not an option rate. But you're going to have to understand how to lead more diverse teams high-performing the routine. Because that's what our society is gonna look like ensue. part of. What we've done is is not only sort of accelerated our leadership development programs for all employees but to also have leadership development programs that are customized to women in communities of color in really expanding. We've created more diverse pools for open positions and more senior positions in our organization. Thank you thank you for giving those specific examples. I have to tell you we're talking to you for the for the final episode of the season. And you couldn't have brought it all together. No because because we talked about entrepreneurs we've talked about lone league and venture funds for people of color we've talked about how housing can kind of be called everything like the key to everything. We and we've talked about implicit bias within the workplace. So you you're very well cast and you learned all your lines. And i just want to thank you for that. I guess i just wanted you to know everything that we talked about. That was bringing ed saving it. We're actually doing the work now. Which is your point thank you. It's actually come to fruition over the course of our conversation some through share with you. Now since you're so good at making things accessible to my not to corporate not banking brain. I would like you to talk to me about the trade and supply chain right so this can be a tricky one to nail down. It sounds a little jargon e to me but it's very impactful so so when you say you're offering supply chain assistance..

Faith twenty five million dollars Cdfi
"cdfi" Discussed on P&L With Pimm Fox and Lisa Abramowicz

P&L With Pimm Fox and Lisa Abramowicz

04:54 min | 7 months ago

"cdfi" Discussed on P&L With Pimm Fox and Lisa Abramowicz

"One thing that this year. And i hope we talk about and do a lot more about next year and that is reaching out and really especially when it comes to the financial sector getting into those underserved communities. Our next guest has some thoughts. On that darren williams a sea of southern bancorp. Joining us on the phone from arkansas. Darren nice to have you here on bloomberg first of all set the set the Stage for us you're talking about. Cdfi's community development financial institutions remind our audience For those who may not be familiar. What they're all about sir. First of all carol thank you for having on cdfi's our community find interest are To be banks could be credit. Unions loaned funds and even venture funds. But we agree. It's a station by the department of treasury and sixty percent of our activity must take place and low and moderate income census tract communities. It's a public private partnership we received Support from the government to ensure that we actually provide access to capital and credit in areas where they don't traditionally slow if you think about In america that number of banks and finance students have traditionally have had sniffily declined in low income often minority and rural communities and so. We're filling the gap. We're kind of financial first responders for communities that don't have access to traditional capital and credit and i want to point out and remind everybody that you were part of the blooberg fifty this year which is really just individuals who stand out from all walks of life all aspects of our world in terms of the impact that they are making on our world and changing things for the better so having said that. Tell us how this can be a game changer. for especially those underserved communities. Well i care. I'm honored to be part of bloomberg's fifty and and that's a recognition that really deserving of the entire cdfi industry in the minority depository industry During this pandemic we saw These low income underserved communities left behind when access to federal stimulus programs for example the paycheck fiction program which puts dollars in hands of businesses to keep their employees on the payroll Unfortunately of these small and underserved rural communities don't have access to digital bank one because many of those banks have abandoned those rules and small communities. So they're not they're up but also because the also because typically small and minority businesses Just don't have that type of relationship with with banks and so we worked with the administration and congress to ensure In the first round of paycheck protection dollars there was a carved out of money Thirty billion dollars of that six hundred fifty billion that would be set aside. Cfi's india is so we can make sure that those dollars get to those small businesses. They often don't have access.

cdfi darren williams southern bancorp department of treasury Darren bloomberg arkansas carol america congress Cfi india
"cdfi" Discussed on The Breakdown with Shaun King

The Breakdown with Shaun King

04:59 min | 7 months ago

"cdfi" Discussed on The Breakdown with Shaun King

"Been telling the story about nine house invested. You know a nominal amount for him. A nominal amount into ring the doorbell. Press it on your phone camera all of that and when it went public he made literally like fifty million dollars off of a like six-figure investment. So maybe he put in four hundred thousand dollars and ended up with forty million dollars. Something like y'all have a six figures to to contribute a lot of us don't and if you don't that does not mean that we still can't launch a ring. We still can't launch a black tech company. We still can't be contributors. We still can't be equity owners. It just means that one. We've gotta find the tech platform that will allow us to contribute to us and then to support them was some of these other corporate funded programs these corporate. Vc the google pay pows that are pledging all this money to black founders so that they can really take off and they can really grow. We also see a ton of money flowing into black banks and credit unions. Netflix made huge waves earlier. This year when they announced they were gonna take one hundred million dollars out of their cash holdings and put them in and put the money in thirty different banks that are serving black communities in black owned banks. Like we don't have a billion dollar bank today but we're on the verge of it. There's internet banks black banks that have now formed enough capital for we can start to make loans to ourselves and like that is one of the critical things that's been missing historically in addition to this bank black movement there's also funding that's going into cdfi's which our community development financial institutions which are community banks. These are organizations. That really will loan to the neighborhood. Business owner in a way that a big bank might not feel comfortable. So i'm gonna take you back to netflix quick. You talked about the money. That netflix is willing to support in the community. But i'm also going to talk about the content. Netflix has made promises around supporting black content around finding more black directors putting more black movies and tv shows and giving them more opportunities if you are a black content producer. If you've gotta show if you've got a background in film if you've been working towards getting distribution netflix's now specifically looking for black people so they can show up and show this content more on their platform they know people love some netflix's. We love some netflix and chill. They are now making an effort to say where to black people at we can fund your film. We can find your television show. That's huge it is your time again. They'll be playing around with our. You know nobody netflix. You know what's funny you'll meet. Somebody enabled like yeah work at netflix. Now you like. Oh i got in the plug bagel hook me up. Doesn't matter that they work janitorial services that they were gonna kitchen use..

netflix cdfi google
"cdfi" Discussed on Yahoo Finance Presents

Yahoo Finance Presents

03:00 min | 9 months ago

"cdfi" Discussed on Yahoo Finance Presents

"That is looks like it's it's at work there. Yeah one of the key strategies that we've employ is really funding. Cdfi's and year to date. We've made a seven hundred fifty million dollar commitment to fund cds five and these are the last mile lenders to communities that frequently don't have any banking relationship. We have a fabulous a women. Black woman entrepreneur in detroit carla walker miller. And she likes to say you know the worst time to meet a banker is when you need money and what she means by. That is if you don't have that established relationship with a banker in an organization. It becomes very very difficult for black business owner to get funding. She said she feels like the no est teed up before she walks in the door and so really i think funding. Cdfi's is one of them the other thing that we have to do is really fund. Black founders latino founders women founders and we launched last year are launch would goldman sachs effort. Which is a five hundred million dollar. Four profit balance-sheet investment in diverse portfolio managers and diverse companies. So those are some of the ways in which we we have to really move the needle and since you all are making those investments yourselves receding investments in these companies. Can you talk a little bit to their success. Rate right because i think for a long time perhaps there was this misapprehension that the money wasn't flowing into these communities because there weren't as many opportunities there wasn't as good investment and i think that that conversation finally has started to change. What is your data showing on that front you write. That's conversation is starting to evolve Dina white one of our business owners who owns a hair salon. You know says look. They put me in a box I want to scale my business. I wanna grow my business. I want to become a national chain. And so the discourse around me and who i am has to really change in order for me to In order for me to get the capital. So i think that's one of the key. Things is really changing the discussion. Changing the frame as to how we're seeing a small businesses the other one is lack. Missus owners tend to be over mentors and undercapitalized and so increasing. Their capital is another one advocacy. I think is particularly important. And what i mean by that is business owners Have to be able to have relationships with policymakers and congressional officials because very often and they're creating the policies that impact small businesses. And so we've been working through our ten thousand small businesses voices platform to really muscle up our small businesses to be able to meet with congressional officials. And tell them. Here's what's happening in the on the ground. Here's what i'm seeing. Here's what needs to change. In order for me to be able to retool and really make my business pandemic proof for future proof and tech enabled. I'm central part of the pandemic. I wanna bring that into the conversation..

Dina Cdfi carla walker miller business owner goldman sachs detroit
"cdfi" Discussed on Casandra Properties Real Estate Podcast

Casandra Properties Real Estate Podcast

05:51 min | 11 months ago

"cdfi" Discussed on Casandra Properties Real Estate Podcast

"G The economic innovation group had a partner who many people will know by the name of Sean Parker Sean Parker founded napster later went on to be an early invested in facebook and got himself played in the movie by Justin Timberlake. Not Too bad. Not Too bad. So what was? What was Sean Parker's next? Sean Parker's next act was going in and try and get a tax break as part of the tax cuts and jobs act, which was really the first major initiative of President Trump's administration when he assumed office. So that effort was successful as a matter of fact. The, heart of the tax cuts and jobs act that gave birth to Od's had bipartisan sponsorships. It was Senator Tim Scott from South Carolina notable as the always waxed editor at that time he was joined by a couple of other black Republicans in Congress but I believe as of today Tim. Scott. As the only black Republican member of either the Senate or the house he was a co sponsor of the bill alongside. Cory. Booker the Democrat from new. Jersey. So what they did was they introduced a bill into the tax cuts and jobs act and. Even. Though Booker did not end up voting for the entire target she was a general supporter of the program and the all. Republican. Votes in the Senate and House then went ahead and passed the the program into laws. So what is it saying, right? What if it says is If. The governor of each of the fifty states off the US territories designates a certain part. The state as an opportunity zone, all these tax breaks come into play and that now gets into your question of where do I find the these. So the designated progresses the summer of two, thousand, eighteen as long rover. So what you can now do, you can go to the cdfi bright. CDFI's that is an abbreviation stands for Community Development Fund initiatives. Division of the United States Treasury? So Treasury Dot Gov has an official. CDFI MAP. And you can go ahead and you can play around with the map and find out if your property sits in opportunities on. And I will get to the implications of what it means if your property is in and opportunities on the moment. But the find that is the official man. There are third party maps that you can google. I find a couple of them to be reliable. There are major counting cars have their maps. One of the accounting firms has been on top of a lot of different special programs that are in the real estate world forever is Nova, Graddick and company and that company named after its founder. Is particularly prominent from the accounting side and the adversaries on industry, and they have a good map that I generally find to be reliable. But you don't WanNa go off third party maps that are from other sources if you can help it because you never know if people have a hidden agenda, you never know if they're transmitting data properly. So the senior fine after the official map, and ultimately if we're going to go check up on on a property and see whether it's nosy, me is the senior FIS map. Okay. So it's Treasury Dot Gov folks we want to go to check of properties in the. And that's and that's where you can find out..

Sean Parker Senator Tim Scott official Senate Booker Treasury Dot Gov CDFI US Justin Timberlake facebook partner Od Trump South Carolina Cory google Congress FIS House President
"cdfi" Discussed on WSJ Your Money Briefing

WSJ Your Money Briefing

03:10 min | 1 year ago

"cdfi" Discussed on WSJ Your Money Briefing

"Make these loans, and then the administration later announced an additional set aside for CDFI's to make the loan. So the Administration Congress have really really said that the way to get make sure that these loans were reaching black and other communities that are typically underserved by larger banks is to use CDFI's, and CDFI's are getting financial support from some major corporations. To. That's right. So I'll just give you one example hope which is based in Mississippi it runs a Credit Union and a nonprofit loan fund, both of which are CDFI's it recently received a ten million dollar deposit from net flicks, and that was the first time that Netflix's has ever sort of gotten involved with CDFI's Google also launched a one hundred, twenty, five, Million Dollar Fund for the CDFI industry and one thing that the The chief executive of hope told me was that the NETFLIX's investment was valuable but what was even more valuable was the interest that he seen from other since Netflix made its announcement. So he's gotten several additional monetary commitments from other individuals and corporations since Netflix made its investment in hope. So the CDFI industry has a lot of momentum behind it especially given the national conversation on race that we've been having. Be. Sustained. Well, that's something that remains to be seen a lot of the people I talked to. For my story said, they're certainly hopeful but they're they're you know they have skepticism as well. Bill Bynum, who is the CEO of hope as I mentioned, he was talking about how the CDFI industry has previously received spurts of attention when there were crises that laid bare some of these racial and geographic inequalities that we've been talking about for instance, with Hurricane Katrina in two thousand and five but he said hopefully the time hopefully this time the momentum is sustained cdfi's are still a small slice of the financial market. What will it take for the industry to grow? So one thing I heard through my throughout my reporting on this is that the CDFI fun which is again under the Treasury Department demand for grants and support through the CDFI fund typically far exceed the congressional appropriations that fund gets every year. So a lot of people said you know this is just an industry that needs more capital in needs more support several members of Congress have put forth proposals to shore up the CDFI industry amid the pandemic but there is a stalemate in Washington over what additional corona virus age should look like so it's unclear whether Congress. Will actually be giving CDFI's more support as they did earlier in the pandemic one thing that happened because CDFI's got so involved with the paycheck protection program is that a lot of them had to sort of upgrade their technological capacity to process a high volume of loans to accept applications online, for instance, and so I heard that CDFI's need more of that technological development if they're going to sort of broaden their reach and expand their capacity to serve underserved communities wall. Street Journal reporter America Imokhuede thanks a lot. Thank you and that's your money briefing I'm Charlie Turner for the Wall Street Journal..

CDFI Netflix Administration Congress Wall Street Journal Bill Bynum Congress Street Journal Charlie Turner Credit Union Mississippi Google Hurricane Katrina chief executive Washington America Imokhuede reporter Treasury Department CEO
"cdfi" Discussed on Pro Rata

Pro Rata

03:34 min | 1 year ago

"cdfi" Discussed on Pro Rata

"We've seen the expiration of cares act programs including, P P, P, additional unemployment benefits, Eviction Moratoriums. You know these are programs that help so many people who run their own businesses because they're operating on such tight margins, and I'm curious if there are specific things that you're hearing from your network that the founders that you know are really hoping to see structurally say and the next stimulus package or in other programs that might come into effect as the pandemic goes on would've loved to see things we've been talking about is the government's recognition of entrepreneurs, support organizations outside of CDFI's. There's hundreds of organizations like renters who are doing this word. However, the top of the funnel get stuck at like in ablaze EP, Urban League CFI's, and alongside them were also the ones hearing stories in. So think recognition Eh, the solution is often from top down that come from the bottom up and so by getting away from grassroots would be awesome. It doesn't feel like the solve. So how do we systematically create the placement for grassroots organizations in the funding pipeline? Valid or validated and not viewed as some side hustle that somebody is passionate about like while I'm passionate about helping back around women were actually helping Black Brown women you know like we asked successfully gotten capital back around with me in ways that the government or banks were not so like there should be some honor in this realm of entrepreneurs support organizations that has not yet being validated at more national federal level as I would love to see that move up in where the PB is like actively and openly acknowledging de people who directly deal with this mob is is shelley. Thank you so much for joining us. Thank you for having me. Welcome back but we're watching today is unemployment numbers. Today's numbers show that last week new unemployment claims were below one million a first since layoffs soared and March but that's not the whole story. There are nearly half a million people that aren't counted and that headline number over nine thousand people filed..

CDFI Black Brown Urban League CFI
"cdfi" Discussed on Here & Now

Here & Now

06:47 min | 1 year ago

"cdfi" Discussed on Here & Now

"It took several surgeries to recover redstone sued the hotel and donated the settlement to Massachusetts General Hospital which created the Sumner Redstone Burn Center this is from an interview sumner. Redstone did in two thousand with the Archive of American television. The interesting thing is that all of the most exciting things that have happened to me are I've done in my life happened after the fire the first exciting thing happened when redstone was in his sixties in one, thousand, nine, hundred, seven, he launched a hostile takeover of Viacom. OWNED SOME TV and radio stations and cable channels including MTV some of the Viacom executives also wanted to buy the company but redstone kept outbidding them. One analyst said at the time it was a war of attrition and he wore them down meg james after he acquired Viacom the bankers you know suggested that they sell off these cable channels because he needed to pay down tat and some of his advisers said, no no let's keep the channels in sumner did and actually that was a huge huge decision because those channels really became the engines for his company. Breath Play the Games on. TV MTV became a global sensation with audiences in Europe, Australia, Latin America Russia, and beyond. Blue News, Talk Am. Sumner Redstone was incredibly tenacious. He was said to be obsessed with Viacom stock price watching it constantly and fired some of his most respected executives including Tom. Preston, who many credit with MTV's colossal success redstone feuds with his own family members were notoriously ugly. He took on anyone who he felt was trying to get into the limelight or take something away from him. Sumner wouldn't let anyone not even children sort of outmaneuver him sumner redstone eventually made his daughter Sherry, an executive with both Viacom and CBS, and their bickering was very public. This is sumner redstone in an interview with former Disney executive. Eisner, on CNBC in two thousand seven, you want to give away where you have your family be my guest I find. That's the way you're supposed to do that one not. Still, very active I worked very hard I travel the World Viacom I'm not about to give up control. No, he wasn't sumner redstone wanted to be the king of content and make Viacom the most powerful entertainment company in the world it's not my mission he went said to be popular. Elizabeth Blair NPR news. This moment in America has ripped off scab that never healed revealing systemic inequities that have robbed Black Americans of generational wells and produced a system in which the typical net worth of a white family is. Now ten times that of a black family. If you're wondering, I, really changed that our next guest says you can if you're willing to put your money where your heart is, and before you say not in the stock market, well, you have money in the Bank does that Bank Lynn? To local black entrepreneurs. Let's go how to from Kristen. Hall. She C e o of and founder of Nia, impact capital. She's written a terrific article, an investor God really, and she joins us from Nevada City California by Skype and Kristen I. You're specifically telling White Americans to do this put their money where their heart is you are white. How did you come to this thinking? This is Bene- concerned I was born in activist and I think growing up white in California particularly in Oakland. saw. The discrepancies from my very own school classrooms and then I was a classroom teacher as well, and so the racial inequities get played out particularly in all of our institutions and so from education all the way through our financial system, there's big discrepancies and I wanted to step in and address them. Let's start with starting small just mentioned banking. You say you can invest in black organizations fighting for social change your return on that money will be the change they create. But talk more about where you bank will. Sure. So I'll just say the change that you make that is significant choosing local banks that loan to women and people of Color Entrepreneurs is really essential that first capital for small businesses So that's a good question to ask your bank, what are they doing with that loan capital and are they financing large fossil fuel pipelines you know international projects or are they loaning directly into your community and the same with credit unions? CDFI's community development financial institutions? Absolutely. Yes. So Those are just credit unions in many local banks and small banks are CDFI's and those are by definition and mission. They are making loans to local communities and you list all sorts of resources. You note see note the letter see. And the money Dula blog will exactly. So see note is actually in investment product that invest exclusively in cdfi's that are loaning in some products specifically for women of Color which we love and then money Dula. That's a blog that I write and I help people move their money in alignment with their values and you mentioned Maryland. Wait who has a list of banks that are climate justice friendly of course, climate justice. is referring to climate change in how it's directly and negatively and disproportionately impacting people of Color. So we'll have again all of these resources at here now org to investing this is money that people put in the markets or directly in companies. Yes. We're talking now about people who want to change racial inequity through their investments but does sustainable or racially responsible investing also make you money well it's such a good question right and so there are certainly some miss out there about can you do good and do well at the same time our answer from our experience from our portfolio is absolutely, and in fact, you can outperform the market by paying attention to. Some of these issues, financial returns are also associated particularly with diversity and leadership to the extent that we can have inclusive teams more innovation comes from that. So there are multiple bottom lines and so particularly looking for an inclusive positive company culture can pay off on the financial side, as well as an more.

Viacom Sumner Redstone redstone Sumner Redstone Burn Center sumner redstone MTV CDFI sumner Sumner Kristen I. Massachusetts General Hospital Archive of American analyst CNBC Color Entrepreneurs executive Dula Elizabeth Blair
"cdfi" Discussed on Business Casual

Business Casual

04:30 min | 1 year ago

"cdfi" Discussed on Business Casual

"That we have spent the last several moments talking about being from the Fed and the Treasury and from Congress and lawmakers CDFI's. What else is out there? A big part of the conversation has been around these smaller lenders. They have become a huge part of the conversation when it comes to smaller businesses, accessing smaller, even microloans. How should we be thinking about Fintech in this conversation? Yeah so I think I would say optimistically but carefully. I think you know I talked about one of the issues with small dollar loans is that they're more expensive to make and technology can be a really important way of reducing costs by doing a lot of things more easily by decision more quickly and using more data. There's lots of things that. Technology can do it. In some cases, it was really important even for some of the big banks to be able to leverage technology to be able to lend in PPP, so that's really important, and at the very beginning of PPP the fintech lenders were not allowed to lend directly at one thing I would just say first of all like Fintech is is in some ways sort of two different things. There's like Fintech set our. Our lenders right and are Fintech that provide technology to financial companies, so it's important to separate those so on the ladder case like the technology to financial companies in particular is really sort of helpful. If you know because it can really reduce the cost in the beginning in terms of the the Fintech, who were lenders weren't allowed to be part of that program, and they were allowed in in the later in the program in. In the second round, and if you look at the data that the SBA has put out, they did a nice job. In terms of doing small dollar loans, their average loan size was much lower than across what the banks did, so that's really helpful. When you think about potentially the ability to reach entrepreneurs, of course, the challenge that we've seen as technology enabled, companies have come into lending and tried to fill the small business lending. Lending gap is that some of them offer really good products and have good practices, and some of them don't and one of the things are programs been working on with a coalition that's focused on responsible business lending. It's trying to understand what are some of the products and practices that are actually in the long term undermining the health of small businesses because they are sort.

Fintech Fed CDFI SBA Treasury Congress
"cdfi" Discussed on People Helping People

People Helping People

07:05 min | 1 year ago

"cdfi" Discussed on People Helping People

"Indigent clients, mostly and for certain nonprofits that meet our eligibility. Guidelines here in the Columbus Ohio area, right and so together you have a lot of experience working with nonprofits and helping. People set up nonprofits. The the background and why why nonprofits You know we are CDFI's over our community development, financial institution right, and where they actually the largest CDFI and less. About? That means that we have a lot of capacity to deploy a lot of money CDFI as a community development financial institutions, so we're a bank like organization. We just don't take deposits. and our in our goal is to reinvest in communities. Using tools that traditional banking can't right and so that means that gives us a more flexibility to invest in organizations. That otherwise wouldn't be a quote unquote bankable. In in our case, it's because of the business, model itself right a nonprofit. Doesn't really Take kindly to a prophet. Formula that a bank is going to require Ryan So. That's why we exist and. Our belief is that strong nonprofits make. Communities Right and just because you're a nonprofit does not necessarily mean that you can't have a sustainable and. Sarong financials. That will allow off non-discretionary funding to allow you to dictate what your community actually needs. by listening to your community, rather than you know the whims of government, policy maker, or if under and. I'll say that there's there's a number of different kinds of CDFI's race. RC is unique that we focus mostly on nonprofits, but other. CDFI's like you've heard of E. C. D. I you heard of finance, and you've heard of other types of alternative lenders. Those are other nonprofit cdfi's that focus on. Different things right so for example easy. The I is more of a microlender, so focused mostly on mom-and-pop shops trucks restaurants. Trucking, you know. To allow for individuals to become entrepreneurs, and then you have others CDFI's focus on larger scale projects like newmarket tax credits historic tax projects in that and the like, so that's kind of why we exist, and that's why we do the things we do to serve. nonprofits Paul as an excellent. Partner right because our coalition of a in in the community doesn't happen in a vacuum. We have to work together and a outlet Paul speaks about his organization and the tremendous work. They do deserve nonprofits. Thanks. I am slightly more agnostic than Omar is about non and for profits. You might expect that from a lawyer I kinda. Do the work that client needs to be to do right. So, some of this for me comes down to. Choosing the right thing to do what you're trying to do. For profit entities, and, nonprofits, Operate differently. They do different things well. And just like I wouldn't take a big dump truck to a stock car race. I. Don't think that it makes sense to take a for profit all the time into a nonprofit kind world because you're just not competing on the same kind of level and you've got different capacity. So. For profit businesses or wonderful for a lot of things. But nonprofits have a lot of advantages when it comes to doing community good. And so. I know that they can be a little scary. They can take. Some education that people may not have at first. But I. Don't think that the barrier is as high as sometimes people fear. It can be so one of the things that I like to do here in this role is make sure that people are well advised. And are capable of of doing those things, no matter what kind of entity there there with if they are eligible clients, than I want to help guide them to choosing the vehicle that's going to be best and part of that is getting out in the community and making sure that people know what options are there and what they are realistically. Park, nick of US just a little bit of an example of what the the work is, you would do with a client. The the best example would be say. I do a community presentation. And somebody comes to me afterwards and says you know I know you're trying to help our neighborhood here you're. You're targeting some stuff here. This is why you've come to us I have an idea for trying to do something here in the neighborhood. That's business say I want to. Get some housing that is affordable housing. And I start talking them I started hearing about their plans and talking to them about how they're going to do their funding and who they're working with. And how they're going to try to complete their goals, and that's an example of a kind of mission that. nonprofits can do one way and the for profit entities might do a different way. So talk to them about what their capacity is who they're working with to see. If the people they want to work with are going to WanNa work with a nonprofit or a for profit business There are sometimes people say you know I've got plenty of investors lined up to do this and we've all got an idea, and that is wonderful for profit. That is not always the case in some of our neighborhoods that need the most help. Sometimes, it's well. I've got wonderful ideas, but. I don't have great access to capital. and. I don't have the network of investors that would pour money into this. And I know lots of people that are willing to help but we need money to make it happen. In that case sometimes. The better thing to do is going to be have them. Take a nonprofit vehicle because that's going to open them up for grants. It's going to open them up for certain piles of government. Money is going to open them up to able to work with I F F. Fact a lot of the people that would come to me. because. They are people from areas that are impoverished backgrounds that are disadvantaged people.

CDFI Columbus Ohio Paul Partner Ryan Omar
Banks Under Fire for Alleged Unequal Lending Practices

Business Wars Daily

03:17 min | 1 year ago

Banks Under Fire for Alleged Unequal Lending Practices

"The practice of red lining were denying financial and other services to people based on race, was outlawed in nineteen, sixty eight, but last week several Chicago Chase Bank branches closed temporarily as protesters call for racial equity and lending from the nation's largest bank and expose published in early June by nonprofit newsroom city bureau and WBZ radio found that off the seven and a half billion dollars in Chicago home. Purchase loans approved since two thousand, twelve, less than two percent was loaned in black majority neighborhoods. The bank is also the subject of a Federal Class Action Lawsuit. That suit alleges that chase shutout. Business. Borrowers from the paycheck protection, program or PCP. Stacey Hawkins Armstrong's the founder of shop. poppin gourmet. Popcorn in Westchester. She told news station ABC seven Chicago the. She tried to file her PP loan application with chase. On the first day. They were accepted, but she got nothing but error messages desperate to keep her doors open and her four employees on payroll. She ultimately secured a smaller loan through a different bank. She believes that chase prioritized. It's favored customers and left small businesses like hers in. In the cold, She's not alone the US. House of Representatives is launching probes into how several banks including J. P.. Morgan Chase Bank of America and Citigroup made P P P loans according to the Orange County Register. Critics allege that big banks service business customers and Shutout underserved borrowers from the funding pool. redlining continues in subtle ways today, including in how P P P loans. Loans were distributed according to Everett. Sand CEO of small business lender lend Distri in a report in fortune as business wars daily reported earlier this month. The Small Business Administration gave no guidance to lenders to prioritize underserved communities about ninety percent of black owned businesses have no employees ease sands, says P, P P rules. Regarding sole proprietors came out last that let these entrepreneurs unclear about. About which loans were available to them? The SBA hasn't released the demographics of WHO received PPP loans, but a survey report by color of change and UNIDOs US is revealing more than half of black and Latin next small business owners who sought assistance requested less than twenty thousand dollars in funding only about one in ten received the funding. They ask for according to the report. One united the nation's largest blackout bank has been working to help black owned businesses get better access to loans in the second round of stimulus funding, federal government allowed thirty billion dollars to smaller and minority owned banks such as community development, financial institutions were CDFI's one united secured some of that funding with that on April. Twenty nine, the bank launched its own P. Program. The bank committed to lending to black owned businesses and self-employed people. It's I. P P Loan, went to an uber driver. Time will tell who was more effective in getting money to black owned businesses, but the stakes couldn't be higher. A recent report by the Brookings Institution Warns Covid. Nineteen could wipe out a decade of economic gains by black owned businesses as Congress debates whether create another stimulus round. The future of many black owned businesses hangs in the balance.

Stacey Hawkins Armstrong Chicago Chase Bank Small Business Administration Morgan Chase Bank Of America Chicago Brookings Institution J. P House Of Representatives Cdfi Orange County Westchester ABC Everett Congress CEO Founder Citigroup Distri
Robert Smith, Vista Equity Partners; PPP & Minority-Owned Businesses

Squawk Pod

04:29 min | 1 year ago

Robert Smith, Vista Equity Partners; PPP & Minority-Owned Businesses

"For businesses around the world today isn't a restart it's a rethink that's why they're partnering with. Ibm retailers are keeping their systems up as millions of orders move online. Paul centers are using IBM Watson to manage an influx of customer questions with a I and solutions built on the IBM cloud are helping doctors care for patients remotely today. We're rethinking how business moves forward. Let's put smart work visit. Ibm DOT com slash thing to learn more this squad pod? I'm CNBC producer. Katie Kramer Today on our podcast private equity giant and richest African American billionaire Robert Smith on getting loans to entrepreneurs or capital is be driven. Frankly into this small businesses hands in probably give them a little more flexibility in terms of hobbies and and how to leverage technology for digital future. But I think we should think about what are the most effective ways for us to educate our population to drive forward into you know into the teacher of opportunity plus when reopening is on the Menu Cameron Mitchell restaurants founder and CEO laid off thousands of workers. Now he's opening doors again. I think we're going to survive but it's GonNa be a while before we get the hospital. It's Monday may twenty Fifth Happy Memorial Day squad. Pat Begins Right now Robert. F Smith is the founder Chairman and CEO of Vista Equity which has fifty seven billion dollars in investment capital. Vista is the fifth largest enterprise software company in the world as well and overseas more than sixty portfolio companies that employ more than seventy thousand people around the world. Smith is also the first African American to sign the giving pledge and he was recently awarded the Carnegie Medal of Philanthropy. He's on many lists as the wealthiest black American and lately. He's been working directly with the White House on the roll out of the paycheck protection program and how to get the loans in the hands of the most in need especially minority owned business. Pp was designed to rescue mainstream. According to the small business administration more than four million loans have been approved so far totaling more than five hundred billion dollars. Here's Andrew Ross Sorkin with billionaire businessman and Philanthropist Robert F Smith. You had worked with the White House on this program and so I just ask you to start by giving it a grade. Do you believe the money's getting where it needs to go. You know be first Tron of the P P P I think was challenge to get to the the small businesses small medium businesses a second charter for being a lot more effective But one of the things we discovered. Angela's US not discussed is that there is a frankly banking desert's in a lot of the communities about seventy percent of the African American community. Actually don't have a branch bank and so we've been working with a they treasury you know senator Sector MNUCHIN and Senator Schumer in Pelosi Dachsie work on building capacity and what I saw the capillary banking systems which are the community development financial institutions and a minority depository institutions building out the Pasadena to get these dollars into the hands of these small businesses which are essential to our communities so what are those capillary banks. Look like who you to right. If you are a small business owner this morning listening to you this morning. Where did you go go? Go to get that money then. So there's a bad a little over a thousand of these days. Cdfi's and the India is and these banks typically are in the communities there mainly in what we call targeted communities Unfortunately a lot of the larger banks don't bank those organizations those businesses any longer and is about ninety four percent or so of the African American businesses are so proprietorships and don't have banking relationships. And so what we've been doing is is enabling. Technically enabling got some wonderful teams have been ebeling these businesses they interface with the transit system at the and you can go to number places. There's national bankers dot org goes National Action Network. We've been worked black churches. Our Fair share A number of organizations that we've been working with to enable these banks to be able to processed loans and we just probably about ninety billion dollars or so left in the second of AP and I think it's essential if these small urban businesses African American Latin next businesses get Get their share This stimulus capitals of really frankly Repair some of the economic damage that this covert virus

Robert F Smith IBM Founder Chairman And Ceo Of Vi White House Ibm Watson Cameron Mitchell Restaurants Andrew Ross Sorkin Founder And Ceo United States African American Community Paul Katie Kramer National Action Network Cnbc Business Owner Cdfi Pasadena
"cdfi" Discussed on Native Opinion Podcast an American Indian Perspective

Native Opinion Podcast an American Indian Perspective

12:17 min | 1 year ago

"cdfi" Discussed on Native Opinion Podcast an American Indian Perspective

"Congress Directed Small Business Administration to prioritize underserved communities including minority and women owned businesses but the SBA's watchdog recently found the agency did not provide guidance to lenders and how to do that and recommended. Sba became collecting demographic information to track the disparity a lot of minority owned businesses are getting access to the paycheck protection program as we in. Congress intended virtual hearing this week. Senators urged the Treasury Secretary and the chairman of the Federal Reserve to do more small and minority businesses are the lifeblood in those small rural communities. But I thought this little small business that big corporation Andrea Poe had never taken out a loan for her hair and make business in Atlanta. And she thinks that's one reason she was denied funds by the SBA. They want you to have a relationship with the bank. You couldn't even walk into a bank. I don't have a relationship. I used to have relationships with people. The May and they only run their banking. So I just I just feel like that was the that was a big crowd this week former. Nba Star Magic. Johnson announced plans to launch his own loan program directly for minority owned small businesses. And while some big companies are getting millions of dollars in federal assistance that companies that. Who need those? Us and their partners color of change spoke to say they're looking for just fifty thousand dollars or less to stay afloat gail while it's got to be tough. I think you're getting forty two thousand and the check comes in at seventy five hundred. That's a big difference. Thank you very much so you can feel the pain that these folks are experiencing and of course the frustration so the next day gayle king who you just heard at the tailender of CBS. This morning Interviewed Robert Smith and he's an American billionaire. Businessman Philanthropist Chemical Engineer and Investment Banker. is the founder and chairman and CEO of private equity firm Vista Equity Partners and his company manages fifty seven billion dollars in capital commitments and over twenty years of investing exclusively in enterprise software. So here's how that interview went With Gayle King this Senate adjourned for. It's Memorial Day recess with out passing a resolution to extend the paycheck protection program known as p. p. The program which helps small businesses pay. Employees has faced significant backlash as many businesses have been unable to get the loans so yesterday you may recall we showed you how minority owned businesses in particular are struggling to get federal assistance. Billionaire investor. Robert Smith is working with lawmakers in Washington to change that. He's trying to find a solution. He is the CEO and of Vista Equity Partners and joins us from Denver. Good morning to you. Mr Smith always good to see you want to start right away with the peace from yesterday because the thing that stuck out to me was the importance of relationships. Relationships relationships are relationships. Why is that so important? And why is it so difficult? It seems for minority businesses establish the important relationships with banking. I think the the big fundamental shift in challenge has been a number of the large banks actually removed their branches from these neighborhoods and there's a statistic around seventy percent of African American neighborhoods. Actually don't have a branch bank and so they don't be these businesses. Ninety four percent of them are so our small At sole proprietorships and so they don't have those banking relationships and so it's important that they think about you creating relationships with the the what. I call capillary. Banks and those are the community development financial institutions of minority depository institutions. Which is what we've been working with with sector MNUCHIN and others to build some infrastructure so they can actually process the PP Lome's effectively. We've been actually pretty effective in that act in action over the last few weeks. What is unique about minority businesses? That may be different from others but the the vast majority of them again at ninety four percent are so proprietors. They have under five employees. And so when you think about you know the value of the PP loan It's typically under fifty thousand dollars or so is what they need to actually. Frankly you know repair other businesses during this this this this time of a shutdown and unfortunately the way that the arrangement is built there actually isn't an economic incentive for large banks actually prioritize their loans. And so we've been focused on driving the capacity for these smaller banks and capillary thanks to process those loans effectively and profitably. There's about a five percent That they would get on a five and it costs. Frankly more money to process alone and they actually get in in in fees from From the government and processing alone. So that's one of the issues if we've been challenged with you hit on it a little bit but I wanNa make sure people understand because I've heard from minority businesses. Look I only need twenty three thousand dollars. I only need forty thousand dollars and yet. They're giving huge sums of money to already established businesses and I think people are having a hard time with that disconnect. Why do they get in? I don't I don't need as much you're right. And unfortunately it's basic economics large loans even though they did a smaller fee. It's a quantum of dollars to the banks that incentivizes them to prioritize the bigger companies that bigger loans as opposed to the smaller ones. You know some of the work that we found with our CDFI'S IN NBA is it takes about seven and a half hours to without technology to really process these loans effectively and that cost about fifteen hundred dollars a process the loans and they only get you know again five pounds or five percent on caller a twenty five thousand dollar loan to receive twelve hundred fifty dollars so they're losing money on every loan so we've been engaging with everyone balk at trump to you know secretary mnuchin to to Senator Schumer to think about a half. We actually changed that either. Change Your Mantra. Change the efficiency the processing so that incentivize these banks to actually go process a smaller loans which are essential frankly for our communities so if I hear people say. Is there any money left? Even that's one question and if you've tried if you've applied for a loan and been rejected. Should you keep trying? Where should you go so I the entries there is? Money left are asked him if you can look at. Espn probably somewhere. North of seventy billion dollars left from what we can tell from at least two days ago and many of our small to medium businesses and rural businesses getting rejected or heard nothing from the larger banks that they had either had relationships with her or that they went prepared the loans with and so going to the CDFI's as an effective way the MD is ineffective way to to To actually get the loan process and we've been very effective actually getting folks who were either turned down or didn't hear anything process and I would recommend people go to national bankers dot Org National Action Network Dot net or our fair share dot com and and really go through the application processes there Of course there's the House and the squares central were also able to process if you have a relationship with those with those companies. But I think it's important to think about these capillary banking systems fintech enabled banking systems as an effective way for small to medium businesses specifically minority businesses in rural businesses to actually get access to the PCP capital. All Right Robert Smith a year ago. This week you were. You surprised everybody. Morehouse college you said. I'm going to pay off your student loans. Do you have a favorite memory from that day briefly? Because you've got huge. Kudos FOR THAT SHOCK EVERYBODY. Bravo to you for that. Your favorite memory of the day day. I think the favorite members my mother looked lifted. Nancy said well done son. That was my favorite memory. The day well done well done son. Indeed Echo your mom. Thank you very much Robert Smith so when I heard that by all means brother jump in I don't make enough money from the loan. This is the bankers position to make it worth my time to process. Your small loan amounts Now the quarter Mr Smith. He said that the cost of process loans without technology. So the way I interpret that is you're paying somebody a lot of money to shuffle paper Did you did you? Come Away with that Yeah the other thing that came away with was Ivanka trump. He's got no business being in this entire process. Yeah I mean I hear that. And that's just that's problematic and in of itself but but we're gonNA talk about solving the problem. That's a big piece right there. So Mr Banker. How much are you paying this person through shuffled this piece of paper from one place to another? If you're not using computers which I find that hard to believe so what did we know that those are the kinds of things that need to be better defined and I know they have limited time in an interview? But that's what I'd really like to know. What is your real actual cost Mr Bank to process alone amount of say twenty five thousand dollars? Honestly you're telling me you're only going to make fifteen hundred to two thousand dollars in interest payments on on that relatively low amount of money. I mean twenty five thousand dollars for this business right here native opinion we could. We could do a lot with that. But if you're telling me that major banking institutions are barely making a thousand dollars per some amount of money. I just find that hard to believe well again. It all boils down to money. The reason I mentioned. Trump's daughter is because she's helping to craft these these laws so that's why it's important. She's got no business in the mix period. Munchkin got no no business in the mix period. Well I've got I've got some research started on Mr Steve Mnuchin. That isn't pretty looted to this a couple of weeks ago but I initially I was just going to drop it because I'm tired of talking about these people but But you know there. There are several problems with the whole. The whole mechanical thing on the one hand. I can't blame Mr Smith for approaching the people that he feels are responsible for making some change and trying to work with them. But if you're a chicken you're not about to go have a party with the Fox you know I don't know but I mean maybe I'm wrong. There are people that will sit there and say well you have to work with both sides. Yeah I get it okay. But not those current side okay today And so yeah I I just I just thought the whole you know. The stories were interesting and in in clearly need to be resolved resolved but they do need to be resolved. Excuse me and there there was A..

Robert Smith SBA Vista Equity Partners Ivanka trump NBA CDFI gayle king CEO Congress Atlanta Mr Steve Mnuchin Andrea Poe Businessman Philanthropist Che chairman of the Federal Reserv Mr Banker
"cdfi" Discussed on The Business Builders Show with Marty Wolff

The Business Builders Show with Marty Wolff

07:42 min | 2 years ago

"cdfi" Discussed on The Business Builders Show with Marty Wolff

"Now. So they can visit billed institute dot org. And we're on all of the social Twitter, Facebook and Instagram and Lincoln. I love the fact that to you said that you had flyers because you know, I think that's one of those things that people forget in this day and age of social that you gotta go where your audiences, and that doesn't, you know, someone may not be on those social channels, or they may not be looking for your information that way, whereas, you know, a flyer on a telephone pole, or in the laundromat might be the thing that, you know, peak someone's interest. Yes. Absolutely. And so word we, you know, get our flyers out into the community the neighborhoods coffee shop libraries on other small businesses. We wanna try to reach people in every corner of the city to make sure that they have access to exploring their ideas. And and being part of their neighborhood transformation. I'm laughing to mardi will remember this from one of our other guests Joyce Schulman? Of macaroni kid who has built up. A formidable Email marketing publishing Lok, hyper local publishing company, and you know, there's always the people like, hey, how'd you build up your mailing list? And she's like I sat my local coffee shop and talk to people in ask them to sign up. So. Apple. Yes that that's exactly what we do. We like I said we have a powerful ground beam. We also run the kiva program locally, which is an international microlending platform, and we do office hours alter the community in sitting in neighborhood coffee shop in libraries. Yeah. That that it's a powerful way to reach people. Discussing that. I built my first business basically putting flyers on the wind. Chills of cars. No. I had a lot of people upset with me April. That's a long time ago. But it worked, and I have another client, and there are very local. And then you're saying, well, let's do this. Let's do that. I said, well what to go down to the mall down here and print five hundred of these flyers. They did it two weeks ago. They got two orders and the roofers, by the way. Well, well, so I'm I'm happy to say grassroots is very effective, especially when you're trying to reach your own community. I mean, that's your that's your target audience. Right. Exactly. And in Detroit that goes along way that word of mouth showing up being present being able to talk to a live person, really matters. So you hit on it with kiva not not sitting in a public library being an author didn't pique my interest. But I was picking up on the kiva part of April. What are the sort of sources of funding for small businesses? I mean, I think the news and and most of the stuff we read is so fixated on startup funding, but that's not what's funding small businesses. So what are the sources of funding for those folks? Yeah. So in Detroit, we still have a challenge getting a start up capital into the hands of the types of entrepreneurs that we work with mostly microenterprise and mainstreet businesses, though, brick and mortar. And so a lot of our folks like I said are low to moderate income. They haven't been able to accumulate wealth overtime. So they don't have collateral. They may have some blemishes on their on their credit credit score and credit report yet, they have a mazing ideas that have potential to make money. So we offer something called Detroit soup, which is a micro granting dinner. That does a couple of things it's it's a democratized opportunity to present your idea to get it boated on by the community. The winner gets the pot of money that can be anywhere from five hundred to fifteen hundred dollars. The next step would be Akiva loan those range from two thousand ten thousand dollars. And then we're part of a network of microlending institutions CDFI is that had that next level of funding that tend to fifty thousand dollars. So it may not sound like a lot. But when you're building a micro enterprise, a one to five person business, those small infusions of capital as your bootstrapping your way, really make all the difference. And you're learning how to you know, spend your money wisely with the micro grant. And then with kiva you're learning how to pay that money back, and that money is crowd source from your communities. Maybe you've never had alone before it's zero interest Niro fee loan. So it's sort of like a starter loan to to practice, and then moving you up to the next level into CDFI, which is a community development finance institution that is a little bit more risk averse, and then hopefully, we're getting you ready for that really big. Bank loan or investor an angel investor. So there's sort of a continue capital continuum that's happening with our entrepreneurs. I want you to go back to Detroit soup because that was another say initiative, I was introduced to on my first trip to Detroit, and I, you know, still it's like one of my bucket list items is still to make it to one of those events. I think it's magical tell people about it. Because I just think it's a really magical community initiative that you know, what somebody else can replicate. Yeah. It's been happening in Detroit for the last ten years because the community saw a need to activate these these local projects Aimee curl started it on top of a Mexican restaurant in southwest Detroit with, you know, ten to twenty people it has grown to now we do for citywide soups a year with a couple of hundred participants. It's four presentations board questions from the audience four minutes, then the audience votes, we have some food. We break bread together. The winner gets the pot of money we often sometimes have people stepping up to match that pot of money. But it does a couple of things right? It's a proof of concept opportunity. It gets the community rallied behind you. You can make some connections and again, build your network that way. And then also that early stage sort of capital, the take you to the next level. We also do a handful of neighborhood. Soup. So there's a bell. I'll soup labor noy soup in a in a few others. And it's just been a really great way. And now they're happening. All you just said the people do it can they do it in their own community. They've it's been taking off people have been they've been popping up all over the United States and even across the water in the UK. I just I just love the notion that you know, you come you like which league the other Italy, you get a bowl of soup and a piece of bread, and you get to hear some pitches, and you pay your twenty bucks, or whatever it is to or ten bucks. Whatever it was to to be part of the soup that evening, and then the whoever's the winning pitch gets to take the the kitty home. I just there's something about the community doing that. I think I remember when one of the stories, and it was a I think there was female founders and their jewelry from that they make from the BBC what

Detroit CDFI Twitter mardi Joyce Schulman Instagram blemishes Lincoln United States Apple Facebook UK Akiva Italy BBC Niro Aimee curl two thousand ten thousand doll fifteen hundred dollars
"cdfi" Discussed on KMJ NOW

KMJ NOW

02:59 min | 2 years ago

"cdfi" Discussed on KMJ NOW

"I'm Liz Kern live in the KM J newsroom. A homicide investigation is underway in northern Fresno county. Detectives from the sheriff's officer on scene at west Herndon in north dour avenue where a body has been found on the side of the road Vesey. Eater say it's a man in his thirties or forties with a gunshot wound Fresno sheriff's detectives are now figuring out what led him to being there. The details. Still coming in President Trump is again threatening to cut funding to California to fight wildfires. Jim Rupe reporting? It's unclear why the threat reboot he has threatened to cut California off before for what he calls poor forest management. He says in Wednesday's tweet that again that is the reason saying billions are wasted. Because of it speaker Nancy Pelosi responded by saying the threat insults quote. The scores of Americans who perished in the wildfires. Governor Gavin Newsom responded with quote, Trump's Goto is government by fear and division and quote. Nearly sixty percent of forest land in California is federal so much of the management is his responsibility. Jim Roope, Los Angeles. A farm leader continues on serving in Sacramento, the details from KM Jays director, Dan York. Governor Gavin Newsom reappointed Karen Ross to serve as secretary for the California Department of food and agriculture Ross served as CDFI secretary under governor Jerry Brown for the past eight years before becoming secretary of the California Department of food and agriculture Ross was chief of staff for former US secretary Tom Ville, sack Ross grew up on a farm in western Nebraska, John York, KM J news, a memorial service in the south Valerie valley honoring Larry police canine killed in the line of duty on December ninth to Larry police, canine Bain and his handler joined a pursuit on a trio of susp. Spects that chase ended in a shootout Tillery avenue in palm street, the also deployed vein as he did it software fire from the suspect inside the vehicle. Dana Sandler will roll struck. My rounds the additional officers returned fire interim to Larry police chief Matt Machado says Bain died from the injuries. He suffered in that shooting Ruth Michael's Cam chain, a service open to the public being held at the international Agra center into Larry. It started at ten AM. The Golden State could be the first in the nation to do away with paper receipts legislation and now making its way through through Sacramento to make the receipts digital sacrimento. A lawmakers staff member war a giant receipt to help promote a Bill by simply member Phil ting to San Francisco. Democrat says it his Bill will help protect consumers and workers from toxins that often coat paper receipts consumers would still be able to request a paper receipt. If that Bill is approved, and that's KABC's Mark coder Robles over to Wall Street where the Dow is up one hundred forty two points currently at twenty three thousand nine hundred and twenty nine it's eleven oh to a KM Jay valley weather right now. Cloudy, fifty eight. At Radio City, rather sixty turns sixty today. Periods of rain, a high of sixty mostly cloudy,.

Governor Gavin Newsom Jim Rupe California Larry secretary Karen Ross Trump Bain Sacramento Fresno county Dana Sandler Bill Liz Kern California Department of food KM Jays Nancy Pelosi Fresno west Herndon officer
"cdfi" Discussed on KSRO

KSRO

02:06 min | 3 years ago

"cdfi" Discussed on KSRO

"In the name of their disease from diabetes to just Beatty's. That's the ks RO late night mash up specialty crop news from Agnete west applications for two thousand nineteen grant money for specialty crops is officially open more after this you go the extra mile for your grapes. Citrus and tree nuts. Does your herbicide? Pre emergence herbicide goes the distance up to six months of powerful residual control of grass and broadleaf weeds, including resistant species with Allie on you, reduce the number of in-season sprays. So you can focus less on weeds and more on profitability cleaner longer. Eliane herbicide from day always read and follow label instructions. The California Department of food and agriculture is asking for proposals for the twenty thousand nineteen specialty crop block grant program CDFI issued a press release stating that each year, they conduct a two phase competitive solicitation process to award funds to projects that solely enhance the competitiveness of California specialty crops grant awards will range from fifty thousand to four hundred and fifty thousand dollars and projects may last for up to two and a half years CD, they will conduct four workshops and to webinars all featuring an overview of the program review of the concept proposal questions alive demonstration of the online application system and much. More live workshops will be held in Mercedes cinema, Los Angeles and Sacramento, you can visit CDF as grant webpage at CDFI dot CA dot g-o-v e slash grants for all the details. Cd FAA encourages anybody to apply with the process as virtually everyone is qualified non. Nonprofit and foreign profit organizations, local state, federal and tribal government entities in public and private colleges. And universities are all eligible concept proposals. Must be submitted electronically. Using the fast system by Friday, November second again, you can find all of the information at CD, FA dot CA dot g-o-v e slash grants. I'm Taylor Hillman for.

CDFI dot CDFI diabetes Agnete west Beatty Taylor Hillman Allie FAA California Department of food solicitation California CDF Los Angeles Sacramento fifty thousand dollars six months
"cdfi" Discussed on Money For the Rest of Us

Money For the Rest of Us

04:42 min | 3 years ago

"cdfi" Discussed on Money For the Rest of Us

"You can get a little higher yield by going to a money market fund mentioned the vanguard funds. With burgers account, some money market, mutual funds. There's a sweep account. They just sweep it in. For example, Schwab. I think they pay one and a half percent on their sweep money market mutual funds. But if they also have purchased option, so you purchase them just like a security. You get a little higher yield. Another option where you actually purchase a security are exchange traded funds. Because short-term treasury bond yields are bills are much higher. You can invest. For example, in the I shares short term treasury ETF tickers s h v, it's SEC otas one point, nine, seven percent. So about a two percent yield. There's the Aisher is floating rate treasury fund. So it's all variable rate. And so there's no interest rate risk at all. That has an SEC yield at one point eight, six percent. I invest in the I shares alter short-term bond ETF. I c s h. This another example of community. This was recommended to me by member of money for the rest of us. Plus we talked about it on them member forums. It's yielding two point, five, four percent. Now it has a little longer maturity, its duration at sensitivity to interest rates about zero point, four years. So it's a little longer than a money market mutual fund, but you get a higher yield, but still very liquid you can sell it and and get your money within a few days. So when it comes to investing your cash, we've gone over some of the criteria part of is, is it worth the extra effort to pick up additional yield? Now, if you're earning zero in your credit union. Yeah, it's worth it. Or whatever, earning zero point, five percent. There are other options out there. It's worth at this point picking up one point, eight percent to two percent yield or even higher. Now it might not be worth all the. All the extra work to pick up an extra zero point, two percent, but at least look to see what your current cash is yielding and explore some of these other options. Are there other options at your Bank that are FDIC insured? Are there other money market, mutual funds that might be appropriate through your whatever brokerage relationship you have or you can look at some of these ETF options next week? I'm gonna talk about a new sponsor on the podcast that has an impact investing solution for short term caches. It see note, they invest in certified community development institutions, what are known as CDFI's. That's paint two and a half percent, but his quarterly quarterly liquidity. So it's not really an option. We're talking about today where you can get your money within a couple of days. But this is sort of an impact investing where there's some social good being done at the same time as you make the investment. And I'll obviously talk about that next week. But if you wanna to lock up your money, a little longer there, even other higher yielding option, some which have as social impacts them, which don't. But look what you're getting now in terms of your cash, it's it's much better time to invest. The Federal Reserve continues to raise the short term policy rate. Sounds like we might by year end be getting more earning actual, a real return above and beyond inflation. And that's a great thing. So that is episode, two twenty show notes that money for the rest of us dot com. Either. Please sign up for my infre- insider's guide. It's a weekly Email. I send you the links each week. I share other investment insight, other things related to the economy and money that didn't make it into the podcast. I do a short essay every week that is in to insiders guide members. It's free. You can sign up money for the rest of us dot com. Everything I share with you in this episode been for general education and not considered your particular situation? Not provided investment advice, simply Geno education on money investing and the economy have a great week.

SEC Schwab CDFI FDIC Federal Reserve two percent eight percent seven percent five percent four percent six percent four years
"cdfi" Discussed on More Than Money

More Than Money

01:42 min | 3 years ago

"cdfi" Discussed on More Than Money

"If you're just interested in the procedure of banking, that's not what's going to sustain you. You have to be interested in what we do. Managing originating capital helping issuers investors come together as great bringing these companies to life. His insight is from James Gordon CEO of Morgan Stanley. In this episode, we heard that the solution to disconnected and commoditised financial services is not hiding your money under the mattress or hitting punk, Fred for car loan. Financial institutions are heating. The call to do better, whether they're structured as community development, financial institutions or CDFI's as they're called here in the United States for not. It's just good business coming up next in episode, ten of season to stay tuned for conversation with the father of consumer activism. Ralph Nader who joins us to talk about the responsibility. Corporations have to all of us to be responsible next time on more than. Thank you for investing time with us. We invite you to keep the conversation going, join us at our website more than money dash podcast dot com. Here you can listen to more of our podcasts download and share episodes, show notes and more look for ways to add your voice to the conversation. We encourage your feedback and welcome your reviews on items or wherever you listen like us forward us to us, and most importantly, join us because life is about more than money.

Ralph Nader CDFI Morgan Stanley James Gordon CEO United States