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#1
10-28-2008, 10:58 AM
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Classification of "Equity Equivalent Investments"
Original message from: MAbbate@wmef.org
Hello: I am looking for how other CDFI's classify "Equity Equivalent Investments" on their financial statements. "Equity Equivalent Investments" being deeply subordinated debt that in our case came from a local bank (to help satisfy their CRA requirements) and is interest only for 10 years but the maturity date continues to roll forward every year thereby in effect, making the principal always due 10 years out. Any information would be helpful. Michael Abbate Director of Finance & Administration Western MA Enterprise Fund, Inc. 4 Open Square Way, Suite 407 Holyoke, MA 01040 (413) 420-0183 ext. 102 (413) 420-0543 fax mabbate@wmef.org<mailto:mabbate@wmef.org> www.wmef.org<http://www.wmef.org> |
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