A comprehensive incubator program for nascent and young mission-based lenders that would like to build and strengthen their lending infrastructure.
For more information on the CDFI Incubator email Susan Brown, VP of Training.
MicroLending Essentials (MiLEs)
Two-day in-person or 6-week virtual training teaches the three main underwriting analyses, how to write a credit memo to support an underwriting recommendation, and provides actual microloan applications to practice on. MiLEs helps SBDCs, WBCs and other businesses assistance staff think like lenders so that their referrals are more successful.
CAMEO launched CDFI Essentials in 2019 with five microlenders and has expand to eight participants. Because developing a sustainable loan program is a long-term effort that could span 2-3 years and involves many steps, we would like to continue the program. Each participating lender receives an initial 1-2 hours of organizational counseling to assess the CDFI’s current status, organizational capacity and develop an initial work plan to get started. They participate in peer cohort calls facilitated by CAMEO. Topics include: underwriting grids, loan products, credit memos, global cash analysis, and credit report analysis. Participants are expected to work on their loan policy manual. Participants also receive up to two hours of individual support each month to personalize policies for their organizations.
CAMEO has a loans-to-lenders fund for new CDFIs.
Online Platform Cohort
To stay competitive and to help provide reasonably-priced, well-structured debt to disadvantaged entrepreneurs, CDFIs need access to a quality automated, web-based microloan platform at an affordable cost. And, the critical success factor in utilizing this innovative technology is the hands-on facilitation and technical assistance provided by CAMEO.
CAMEO has aggregated small volume lenders on several online platforms including LiftFund’s MMS and LendingFront. We offer a low-cost approach to outsourcing underwriting functions in order to increase lending. The MMS program proved its concept with lending increased by 173% from the beginning of the program and several organizations have graduated from the program to do enough lending to warrant their own license. No other state in the US is scaling up microlending by aggregating CDFIs on a technology platform
CAMEO can help your organization start a microlending program or complete their strategic growth plan.
The MicroLending Academy
CAMEO created the MicroLending Academy to increase microlending in California by supporting our members to expand their capacity, skills, capital resources and technology adoption. This program has been folded into the CDFI Incubator.