Friedman Associates CDFI Consultants

CDFI Consulting Projects

We lead an incredibly diverse array of CDFI Consulting projects.  Community leaders invite Friedman Associates to analyze the gaps in the availability of capital, develop new nonprofit loan funds, train staff in successful practices, and re-structure successful CDFIs to “do more good.”  How do we do it?  Everyone on our team has been on your side of the table – former Executive Directors, CFOs, Directors of Lending and Development Directors.  We are your peers.  We know what keeps you up and night.  And we deliver stunning results.

Northwest Area Foundation (NWAF): Consulting project to develop and support the grant making activities of this 8-state foundation committed to poverty alleviation and job creation. Projects include Increasing Impact and Improving Performance, a $2 million dollar grant program to build the capacity of Microenterprise Development Organizations in the NWAF region. Designed the grant initiative and provided consulting services to eight grantees.

Access to Capital in Ohio: retained by the Cleveland Foundation, the Burton D. Morgan Foundation, and the City of Toledo to assess the demand for small business financing for low-income entrepreneurs across the state of Ohio. Provided a detailed analysis that quantified the need and demand for a large-scale microloan fund. Led to an investment of over $20 million to ramp up loan activity in distressed communities.

State of Alabama: the Alabama Department of Economic and Community Affairs (ADECA) and the Appalachian Regional Commission (ARC), commissioned FA to conduct a feasibility study on the creation of a CDFI to serve low-income individuals and communities across the state. A full business plan was developed with financial projections. State funding was secured to move the project forward.

U.S. Small Business Administration (SBA): lead contractor on three SBA PRIME Capacity Building Projects totaling $2 million to help 12 microenterprise organizations scale up their services and improve performance and impact. For example, the Academy for Green Microenterprise Development created a national network of nonprofits committed to Triple Bottom Line investments for disadvantaged entrepreneurs. FA provided consulting, training and led a national conference.

Volunteers of America (VOA) is one of the largest nonprofit service providers to the elderly, veterans, and people with healthcare and medical needs in the US.  Friedman Associates was retained by its subsidiary, VOANS Community Impact, Inc., to support the launch of The Futures Fund, a social impact investment fund that supports the development and expansion of affordable housing and effective, efficient community facilities that are a local nexus for human services, including economic and job development activities.  FA will develop the loan fund infrastructure, operations plan, and a capitalization strategy.

Massachusetts CDC Association: in partnership with Babson College, we designed and implemented a year-long series of workshops to strengthen the performance of small business providers and microlenders. Subsequently, we conducted a feasibility study for the creation of a new entity that would serve as a granting, technical assistance and training entity for these organizations across the state. In 2016, we trained over 25 professionals in best practices in underwriting.