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Latest Discussions View more discussions

  • RE: Credit Loss Allowance on Loans

    an hour ago

    Hi Rob. ASU 2016-13 - know as CECL - was effective for 2023. One of the main changes is requiring reserves on unfunded commitments. The ASU does allow haircutting the reserve percentage, though, since not all commitments fund, and we have the option ... Read More

  • Record Retention and Destruction Policy

    an hour ago

    Good morning, We are starting to develop a record retention and destruction policy. We saw the common type of documents and minimum requirements below from the AICPA but wonder if there is anything unique or a standard practice for CDFIs. NCIF does ... Read More

  • RE: Credit Loss Allowance on Loans

    2 hours ago

    Hi Rob, Since we cannot unconditionally cancel our loan commitments, we had to put a credit loss allowance for unfunded commitments under CECL as well. The % is the same as the funded loans but you can build in a likelihood factor for unfunded commitments. ... Read More

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Midwest Regional Meeting and Trainings

2024 Small Business Finance Forum

SBFF, June 13-14, 2024

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Job Bank View more jobs

  • Vice President – Senior Portfolio Risk Manager

    5/17/2024 1:12:30 PM
    Invest Detroit is a mission-driven lender, investor, and partner working to ignite inclusive economic growth in underserved Detroit communities and across the region. A leading Detroit-based Community Development Financial Institution (CDFI), we bring 25+ years of experience acting as a catalyst for economic development and investment, providing critical gap financing...

  • Small Business Support Manager

    5/17/2024 1:04:06 PM
    Invest Detroit is a mission-driven lender, investor, and partner working to ignite inclusive economic growth in underserved Detroit communities and across the region. A leading Detroit-based Community Development Financial Institution (CDFI), we bring 25+ years of experience acting as a catalyst for economic development and investment, providing critical gap financing...

  • Manager, New Markets Tax Credits (NMTC)

    5/16/2024 4:07:53 PM
    Civic is one of the nation's leading nonprofit lenders and developers, bringing high-quality education to students through the development of public charter schools. Since 2002, we have supported the growth of 83 schools nationwide, educating more than 42,500 students annually with a 90% graduation rate. We offer school facility development...

OFN Blog View more blog posts