Posts Currently viewing the category: "NYS CDFI News"

On East 167th Street in the Bronx, there’s a commercial corridor anchored by stops on two subway lines. Along the stretch are fresh fruit and vegetable markets, nail salons and barbershops, eye care and dental offices, hardware stores, a furniture store, bodegas, check cashers, pawnshops, and the main branch and headquarters of Spring Bank…(Read More)

Small businesses seeking loans to recover from the COVID-19 pandemic will soon have the information they need to make better borrowing decisions, thanks to the 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…(Read More)

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…(Read More)

Bloomberg Law recently posted an article titled “Community Development Lenders Push for Larger Role in Virus Aid.” Archana Pokhrel, owner of Lenox Spa and Nails in Manhattan, doesn’t know when customers will return for the hands-on beauty treatments that stopped when the Covid-19 pandemic struck earlier this year.Bloomberg Law: June 4…(Read More)

The President of NYS CDFI Coalition, Linda MacFarlane, serves as Executive Director of the Community Loan Fund of the Capital Region, certified as a CDFI in 2013. She recently wrote a commentary for the Albany Business Review, in which she said: “During the last two months, we have heard from business owners who are scared…(Read More)

Call on Senate Banks Committee to Advance S. 5470 ALBANY, NY – May 26, 2020 – As portions of New York State begin to reopen during the Coronavirus pandemic, community development organizations are supporting legislation that will help small businesses recover. The NYS Community Development Financial Institutions (CDFI) Coalition represents the institutions that make innovative…(Read More)

Support S. 5470A

Make Small Business Loans more Fair, Affordable and Transparent As regions across New York State begin to “reopen,” we’re glad that New York’s lawmakers have already introduced legislation that will help small businesses recover from the COVID-19 crisis.  The NYS Truth in Lending Act will bring common-sense transparency standards to…(Read More)

“We’ve got to get to some level of equality – we are one of the most unequal societies even though we’re among the wealthiest. We’ll work together to make that happen…(Read More)

We received this letter and wanted to share it with Coalition members and our supporters. CDFIs across New York State are poised to help our communities build back better – with the support of our own funders and investors. Good afternoon, I’m writing from California-based CDFI Pacific Community Ventures, on behalf of our leadership…(Read More)

Last week, the CDFI Coalition launched a rapid-response questionnaire to help NYS prepare for applications for disaster recovery funds from the US Small Business Administration. Thanks to all who responded. We recently updated our Coronavirus Resources page, with links to Federal, State and NYC sites. In addition, we surveyed more than 80 CDFIs in…(Read More)