Posts Currently viewing the category: "NYS CDFI News"

As the broad and long-lasting impact of the Covid-19 pandemic came into focus across New York State, the Federal Reserve Bank of New York reached out to NYS CDFIs to find out how we were responding – and how they could help. Their questions included: Are there specific economic impacts that your members have…(Read More)

The headlines may be all about Coronavirus, but some New York State lawmakers are already introducing legislation that will help small businesses recover once the crisis is over. The Responsible Business Lending Coalition (RBLC) recently endorsed A10118 and thanked Assemblyman Ken Zebrowski (D-Rockland County) for his support of New York small businesses. This legislation…(Read More)

Coronavirus

The members of the NYS CDFI Coalition are already reporting that their communities are being hit hard by the consequences of the Coronavirus. We are working with our partners at the Federal, State and local levels to continue to deliver financial resources and stability to our neighbors. In the following weeks and months, we are…(Read More)

The demand for affordable housing in the city of Albany is high, especially among families who need more space than a one- or two-bedroom unit. Find out how the Albany Community Land Trust (Albany CLT) is working with partners like the NYS Housing Trust Fund Corp. and the Affordable Housing Partnership to renovate and…(Read More)

Spectrum parent starts $10M community loan fund Larry Rulison Updated: Feb. 27, 2020 4:23 p.m. ROTTERDAM — Charter Communications, the parent company of Spectrum cable TV, is creating a new community loan fund that will make $10 million in loans to local community development lenders throughout the country where it has…(Read More)

Jan 28, 2020, 2:19pm EST Why Albany’s Community Loan Fund sees opportunity in Cuomo’s new banking proposal Gov. Andrew Cuomo wants to bring $25 million to organizations that offer low-cost loans to low-income communities as well as minority and women-owned businesses. The program could be a boost for organizations…(Read More)

Governor Cuomo Proposes $25 Million in New Funding for CDFIs Governor Andrew Cuomo announced on Monday a proposal to provide $25 million in new seed funding over five years for New York’s CDFI Fund through the creation of the Excelsior Banking Network. The proposal, announced in conjunction with his 2020 State of the State…(Read More)

The original article was written by Oscar Perry Abello and can be found here at Next City One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments…(Read More)

On November 19th, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 284 Community Development Financial Institutions (CDFIs) $188.7 million in Financial Assistance (FA) awards today. The awards, through the fiscal year (FY) 2019 round of the Community Development Financial Institutions Program (CDFI Program) and the…(Read More)