Re: Loan Fund Servicing for non-profit agencies

[Community Development Banking List]

Original message from: samira@brooklyn.coop

Hi,
We're doing something like this. A local non-profit has funds for a loan
pool, but does not have experienced loan officers nor a system to collect or
service loan payments. So the non-profit will refer applicants to us, and
the credit union will underwrite. We'll issue a recommendation as to
approve or deny, and if the non-profit decides to go with an approval, we
disburse the loan out of their account, collect payments, and service.

Let me know if you need more information,
samira

--
Samira Rajan
CEO, Brooklyn Cooperative FCU
Director, Grow Brooklyn, Inc.
1474 Myrtle Avenue
Brooklyn, NY 11237
tel: 718 418 8232 x202
samira@brooklyn.coop
working days: Tues - Sat


On Fri, Apr 22, 2011 at 6:16 PM, Jeremy Hofer <Jeremy.Hofer@fresnoeoc.org>wrote:

We are exploring partnerships with other agencies in California in which
we service loan funds established specifically for their community. These
would be agencies that don't have the capacity to become CDFI's themselves
but have identified a need for microfinancing in their region. They would
market and provide some technical assistance to entrepreneurs and businesses
and we would service the loans for them.

I would like to talk with other CDFI's who are doing something similar -
specifically around the contracts and terms between the CDFI and the partner
Agency. Even looking for templates of contracts that have already been
developed.

thanks,



Jeremy Hofer
*Loan & Resource Development Officer*
Fresno Community Development Financial Institution
jeremy.hofer@fresnoeoc.org
559.263.1277 (direct line)
559.263.1094 (fax)
1900 Mariposa Mall, Ste 100
Fresno, CA 93721
www.fresnocdfi.com

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