[CircleUp] Urge Treasury Officials to Finalize CDFI Program!

[Info]

Keep the conversations going.

 

Subject: Urge Treasury Officials to Finalize CDFI Program!

 

When President Barack Obama announced in October a series of initiatives his
Administration would take to expand lending to small businesses, he included
among those steps a plan for the Treasury Department to make capital
available to CDFIs at concessionary rates.  The terms for community
development banks and credit unions were announced immediately, and the
Administration committed to work with community development loan funds on
developing a structure for their participation in the program.  Opportunity
Finance Network has been working closely with Treasury Department officials
to nail down the details of this program. 

 

Treasury Secretary Timothy Geithner faces a December 31 deadline for
deciding whether to extend the programs (like TARP and this new CDFI
initiative) authorized under last year's Emergency Economic Stability Act,
so we are eager for him to reach a decision as soon as possible this month.


 

We need the help of OFN Members and others to encourage Secretary Geithner
to finalize the CDFI program soon.   Please do two things NOW to help us
persuade the Treasury Department that CDFIs have both a need for funds and
the capacity to deploy them quickly and responsibly:

 

      REPLY TO THIS EMAIL with your name and organization to endorse and
sign on to the attached letter to Treasury Secretary Timothy Geithner.  Note
the communities, states or region of the country you serve.  (We are trying
to demonstrate the nationwide scope of the CDFI industry.)

 

   Copy the text and link below and send it to your small business
borrowers, to encourage them to endorse the letter as well and demonstrate
the real difference CDFIs make:

 

 

 

[NAME OF YOUR CDFI] knows that you have turned to us because we can provide
financing and services that many banks can't. With a national network of
CDFIs like us, we're working to secure some of the same resources that the
federal government has provided banks in this time of crisis. Please take
just two minutes to visit the link below and add your name to the list of
allies supporting the important role CDFIs play in the economy, and
encouraging the U.S. Treasury to extend resources to us so we can better
help you and borrowers like you.

 

Click on the link below and fill in your name to endorse this effort! Thank
you for your support!

 

Add your name here: :
http://capwiz.com/oppfin/issues/alert/?alertid=14424921
<http://capwiz.com/oppfin/issues/alert/?alertid=14424921&type=CU> &type=CU

 

DEADLINE for responses: Friday, December 11.  

 

THANK YOU for your assistance.  We will keep you updated on any new
developments.  If you have any questions about this letter or OFN's advocacy
efforts with the Department of Treasury, please contact Jennifer A.
Vasiloff, Senior Vice President, Policy. (jvasiloff at opportunityfinance.net;
703-967-1338).  

 

 

Dafina Williams

Junior Associate, Policy

Opportunity Finance Network

 

P 215.320.4318

F 215.923.4755

dwilliams at opportunityfinance.net 

www.opportunityfinance.net

 

Celebrating 25 years of opportunity finance!

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: /pipermail/circleup_lists.ournativecircle.org/attachments/20091208/77e0a414/attachment-0001.html 
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: image/png
Size: 1025 bytes
Desc: not available
Url : /pipermail/circleup_lists.ournativecircle.org/attachments/20091208/77e0a414/attachment-0001.png 
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: image/gif
Size: 559 bytes
Desc: not available
Url : /pipermail/circleup_lists.ournativecircle.org/attachments/20091208/77e0a414/attachment-0001.gif