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Vol. I - Issue 11

A Conversation on Green Lending

Free Webinar - Friday, July 31st at 10:30 AM

The NYS CDFI Coaltion is pleased to join Inclusiv; Inclusive Prosperity Capital; and New York State Energy Research and Development Authority in presenting a conversation on green lending.

Green lending will continue to occupy an increasing share of lending in the industry for the foreseeable future, and the State and local governments are introducing new initiatives to facilitate Governor Cuomo's goal of achieving carbon neutrality in our state by 2050.

The discussion will include an overview of NYSERDA tools for CDFI and Credit Union lenders and an introduction to the Smart E-Platform. 

RSVP today to learn about exciting new opportunities for New York's community development lenders and how you can help make a clean, green future a reality!

Register Now!

Visit our Event Calendar for more webinars, panels and trainings!

Do you value these updates?
Please consider joining the NYS CDFI Coalition today! 

CDFIs Only: Please take the survey! 

The Federal Reserve Bank has asked the NYS CDFI Coalition to distribute an abbreviated version of their annual CDFI survey. The survey seeks to quantify the organizational impact, crisis response, and community impact of the CDFI industry during the pandemic. 

As they did in 2019, the Richmond Fed will be spearheading the administration of the survey in partnership with the CDFI Fund, which has expressed the growing need for data to help inform ongoing policy responses and other support initiatives. Other key partners include Inclusiv, OFN, Oweesta, and Neighborworks America. 

According to Federal Reserve Bank of New York, "the NYS CDFI Coalition’s support last year was crucial in garnering significant representation of New York in the survey, with the state having the third highest number of survey respondents. We continue to work towards raising awareness of the impact of CDFIs, especially those in New York, as you continue the work of quickly providing capital to communities that need it the most during this pandemic."

Please help us make sure New York's CDFIs are recognized as Financial First Responders! 

The online document will remain open to respondents until Friday, July 31, but we urge you to complete the survey at your earliest convenience.

Thank you for your consideration of this request - and for all you do in our communities. 

CDFIs Back Homeowner Assistance Fund

The board of the NYS CDFI Coalition voted on July 21 to support the Homeowner Assistance Fund. This is part of the HEROES Act which passed the House and will be debated in the U.S. Senate soon as part of the next COVID-19 relief package.

The Fund would deliver badly needed dollars to homeowners to prevent foreclosures as a result of COVID-19. Funds would flow to State HFAs and potentially through CDFIs to help homeowners.

“Since New York’s Senators, particularly Senator Schumer, will play a pivotal role in the debate, we have an opportunity to indicate to them how important dollars to homeowners will be in recovering from COVID-19, especially as forbearance periods begin expiring,” said Howard Banker, Chief Lending Officer, Center for New York City Neighborhoods and member of the NYS CDFI Coalition board. “The Center, our partners at the Coalition for Affordable Homes, and Empire Justice Center have also endorsed this sign-on letter.”

Thanks to all who signed! The final version of the letter is posted here.

End-of-Session Action on NYS Small Business Truth in Lending Act

“The NYS Small Business Truth in Lending Act will bring common-sense transparency standards to small business financing at a time when it’s needed most,” said Linda MacFarlane, President of the NYS CDFI Coalition Board, who serves as the Executive Director of the Community Loan Fund of the Capital Region, Inc.

If passed and signed into law, this bill will serve as the nation’s strongest small business financing disclosure law and require financing companies to clearly disclose their pricing and terms to small businesses. 

“CDFIs are committed to offering loans in a fair, affordable and transparent manner,” said MacFarlane. “Unfortunately, some lenders make it hard for small businesses to compare the true cost of their offers. CDFI Coalition members around the state are pleased to see this measure has been reported out of committee in both the Assembly and Senate. We hope both houses will heed our call to help New York's small businesses make smart borrowing decisions as they try to rebuild after the COVID-19 pandemic."

They NYS CDFI Coalition is closely monitoring the bill (A.10118/S.5470), sponsored by Senator Kevin Thomas and Assemblyman Ken Zebrowski. Watch our website, Facebook, Twitter and LinkedIn timelines for updates, or check your inbox for a special edition of "New Developments."


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Our Mission

Our mission is to position CDFIs as the most effective strategy and policy tool to address issues of financial inclusion, housing access and economic opportunity in New York State. Please visit our website to learn more.
New York State Community Development Financial Institutions Coalition
Copyright © 2020 New York State CDFI Coalition, All rights reserved.

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