CFSB celebrates two-fold lending increase, other 2023 progress
Thanks to all who joined us on Zoom for the release of our Annual Report. In 2023, we celebrated a two-fold increase in overall lending, developed two new lending programs, and launched a coaching program. Read more about these highlights, or see the recorded presentation here…
CFSB Introduces Capital Coaching
This morning, more than 30 local entrepreneurs and small business hopefuls attended the Steps to Business Success webinar, where CDFI Friendly South Bend introduced our newest program, Capital Coaching. Together, the webinar and the Capital Coaching program will help new business owners start their businesses strong, and maximize their chances of being approved for financing.
CFSB celebrates pedal trolley startup
South Bend’s new entertainment attraction turns heads everywhere it goes.
The Jumpoff is South Bend’s first pedal trolley. Though the entrepreneurs were initially unable to secure startup funds from traditional lenders, CDFI Friendly South Bend helped connect the entrepreneurs to alternative financing.
“Entrepreneurs – especially minority entrepreneurs – we don’t have assets. We have debt, but we don’t have assets,” Co-owner Rhonda Douglas explains. “So we have to talk about it. We have to not make it a secret, because everybody needs help.”
Webinar: Social Media Strategies for Entrepreneurs
Nearly 4 billion people use social media daily. Did you know more than half of them use social media to research new products and businesses?
On June 27, CDFI Friendly South Bend co-hosted a Social Media Strategy webinar, where Amanda Askew with Allies for Community Business shared tips for entrepreneurs to maximize social media’s potential to help reach their business objectives. See the replay…
Winning ideas: CFSB pitches multi-pronged approach to increase housing development
On a snowy Saturday morning in January, more than a dozen local thinkers convened at the South Bend Technology Resource Center to pitch their ideas for alleviating South Bend’s housing crisis.
By the time it was done, three of them – including CFSB’s own executive director Sam Centellas – had taken top honors. “These housing problems are complicated,” admits CFSB executive director Sam Centellas. “There have to be multiple prongs to the solution.”
CFSB celebrates five-fold increase in local CDFI lending, other impacts
In 2022– our first full year of steady leadership – CDFI Friendly South Bend facilitated over $4.3 million in total lending to local businesses and organizations.
Most notably, $1.2 million of that figure came from Community Development Financial Institutions (CDFIs). That’s an exciting five-fold increase over the 2005-2019 annual average.
Webinar: Indiana Black-Owned Business Loan Fund
On February 27, CDFI Friendly South Bend co-hosted a webinar to promote the new Indiana Black-Owned Business Loan Fund.
Indiana-based CDFI Bankable shared the details on how this new program aims to close the wealth gaps in our community with loans of up to $50,000 for small businesses.
Property Bros LLC and CDFI Friendly
Jordan Richardson grew up in a neighborhood where investment was not happening. Jordan, the principal of Property Bros LLC, decided he could help be the difference he saw was needed.
South Bend nonprofits showcase energy-saving upgrades
You’ve probably heard that money doesn’t grow on trees. But as the leaders of some South Bend nonprofits might tell you, it can come from the sun.
At least that’s what these mission-minded organizations are banking on, with the help of a new energy savings initiative co-sponsored by CDFI Friendly South Bend.
The Energy Assistance Solar Savings Initiative, or EASSI, helps local nonprofits, schools, and other community organizations make energy efficiency upgrades to their facilities. CDFI Friendly South Bend helps participants understand when taking on debt to finance these upgrades makes good sense.
CFSB helps local nonprofit finance its mission
Construction is now underway on the first small-scale, multi-family development in decades to be built in South Bend’s Near Northwest Neighborhood, thanks in part to lending assistance from CDFI Friendly South Bend.
“A nonprofit executive is focused on their mission,” says CFSB Executive Director Sam Centellas. “[W]e help the nonprofit stay centered on their community impact without having to worry about the intricacies of different types of finance…”
Making connections through Board growth, transitions
It’s our mission to connect people to the capital they need to build up South Bend. That’s why CDFI Friendly South Bend is pleased to be growing our Board of Directors into a team of experienced, community-minded connectors who will move that mission forward.
While we are expressing our gratitude to four Board members who have completed their Board service in 2022, CFSB is also excited to welcome seven new Directors to our Board.
Build credit with a no-cost Coaching Credit Loan
You may not need a new building or heavy equipment just yet. But if you will in the future, you should build credit now.
That’s why CDFI Friendly South Bend has partnered with Allies for Community Business to offer 10 qualifying businesses up to $2,500 each in zero-interest, no-cost loans.
Seminario: Capital, Asesoría, y Conexiones para Pequeñas Empresas
Gracias a todos los que se unieron al seminario con Allies for Community Business (A4CB). El seminario incluyó información sobre capital y los servicios gratuitos de orientación empresarial de A4CB y tambien sobre los servicios de referencia de CDFI Friendly South Bend a empresas locales para obtener asistencia técnica.
Neighborhood Economics Gathering
Last week, leaders from around the country came together in Indianapolis to talk policy, action, economics, advocacy, faith, and more. The event, called Neighborhood Economics, was a design lab, think tank, and a networking group — and everyone from philanthropists and funders to community organizers sat together to work on solutions to pressing community issues.
Webinar: Capital, Coaching and Connections with A4CB
This week we hosted a free webinar with Allies for Community Business (A4CB). In this webinar, A4CB's Amanda Askew gave an overview of what is required to apply for a small business loan and talked about their 3% interest rate right now on small business loans.
Board Member Search
The Board of Directors of CDFI Friendly South Bend are seeking 3-5 new board members to assist in our critical mission of connecting our region to the $260 Billion CDFI Industry. Founded in February of 2020, this young non-profit needs your support to focus on strategy and goals to meet our mission.
On The Road Lending in Indiana
On November 1, 2021 our community welcomed On the Road Lending to serving Indiana. We are excited to promote their approach to helping people get to work.
CDFI Friendly South Bend Introduces Community Champion Sam Centellas as Its New Leader
CDFI Friendly South Bend Board Chair Ramal Taylor is proud to introduce Sam Centellas as the organization’s new Interim Executive Director. Centellas will join CFSB on June 7th.
Congratulations to Beauty Hive Beauty Supply, South Bend’s Newest Small Business!
On Saturday, May 8th, local entrepreneur Willie Dearing cut a large red ribbon, officially opening her own small business, Beauty Hive Beauty Supply, in downtown South Bend.