The holiday weekend is fast approaching, and I've been getting vacation responders for the past week. Seems like a lot the people who worked straight through the pandemic are finally taking a breather.
I'm going to take a page out of that playbook, and rather than creating new content for a blog post, share a lengthy email that I sent recently to some 80+ Community Development Financial Institutions in New York State. I serve as consulting executive director of the NYS CDFI Coalition, and one of the projects we've been working on is securing additional sources of funding for CDFIs, which played an important role as financial first responders over the past 18 months! I hope you learn something about CDFIs and that if you have any questions, you'll drop me a line - let's make #SmallTalk!
Dear NYS CDFI Coalition member -
We're excited to present our second NYS CDFI Quarterly Investor Club event with our partner, Impact Finance Center, on Friday, July 2. This event differs from our monthly informational webinars in that we feature an investor panel, a CDFI panel, AND a series of quick pitches from NYS CDFIs.
This is a great opportunity to highlight the work you're doing in front of an audience of prospective investors - those who watch in real time, as well as those who participate in Impact Finance Center's Impact Investing Institute. The non-profit Institute identifies, trains, and activates individuals and organizations to become impact investors, helping them better align their assets with their values. They are working to move more money to social ventures by creating the infrastructure for a Nationwide Impact Investing Marketplace by 2030 - and NYS CDFI Coalition members are on the list!
Your support of the NYS CDFI Coalition helps us explore new ways of attracting capital to our members, and we're excited about some early interest from investors. We hope you can join us!
Link to "Financial Storytelling for NYS CDFIs" - Andrea's example of a 2-minute pitch is between 15:30 - 17:25.
PRO TIPS from the video - For your 2-minute pitch - pick one STORY that investors will remember and lead with it.
NOT: X Bank has a small loan program and we help homeowners.
BUT: We got a call from someone whose parents' home had been damaged by Hurricane Sandy and they urgently needed $$$$$ to make repairs.
NOT: We helped a church with TA and a loan because they didn't have solid bookkeeping practices and didn't look good on paper for lending.
BUT: Imagine having 2 houses deeded to you, and homeless veterans needing a place to live, but you don't have money to fix them up. That's what happened to XXX Church.
NOT: During the pandemic we facilitated $XXX million in loans, helping XXX businesses.
BUT: A year ago, she was in danger of losing her business. Last month, she was on the cover of Financial Times, thanks to a CDFI.
Colleen M. Ryan is an