Washington, DC  The Community Development Financial Institutions Fund (CDFI Fund) announced today the launch of two new training series for Community Development Financial Institutions (CDFIs) that provide small business or microfinance loans. The series will be provided under the CDFI Fund's Capacity Building Initiative, which expands the training and technical assistance opportunities available for CDFIs nationwide.

The two series-"Innovations in Small Business Lending" and "Scaling up Microfinance"-both focus their training on financing principles that are designed to assist communities from the grassroots level. By helping entrepreneurs turn a new idea into a business, or to build upon a small business's initial success, CDFIs encourage economic growth in low-income and distressed neighborhoods.

"These two new series are exactly the type of innovative and transformative training we envisioned when we launched our Capacity Building Initiative," said CDFI Fund Director Donna J. Gambrell. "Our efforts will help CDFIs nationwide better serve their clients with the capital, credit, and other critical services they desperately need to build businesses and create jobs. And these trainings come at a time when we cannot afford to take our eye off-the-ball in regards to recovery in our country's most economically challenged communities."

Specifically:
 

1. The Innovations in Small Business Lending series will provide training and technical assistance to CDFIs interested in expanding their lending services to the small business sector. The series, as part of the CDFI Fund's Capacity Building Initiative, is being developed with Deloitte Financial Advisory Services, LLP (Deloitte) to address the specific needs of CDFIs.
   
   The Innovations in Small Business Lending series will significantly boost the ability of CDFIs to identify key strategies for small business lending, such as evaluating new market opportunities and trends, then assessing what businesses in their communities will need support, and building the financial infrastructure and deal flow to finance them. Training sessions will set out a number of new market opportunities Deloitte has identified to be transformative in regional economies. The goals include learning how to quickly filter opportunities and identify promising and timely revenue opportunities.



 
2. The Scaling up Microfinance series will build the capacity of CDFIs that provide microfinance services to meet untapped demand, improve organizational capacity, and attract institutional investors. Opportunity Finance Network (OFN) has been selected as the training and technical assistance provider to expand the capacity of CDFIs specializing in microfinance.
   
   Today, microfinance CDFIs play a vital role in providing access to capital and other financial products to entrepreneurs who cannot qualify for traditional bank loans. However, the sector is highly labor-intensive and exhibits elevated costs associated with providing many small loans and technical assistance to borrowers. Gaining efficiencies through technology, implementing sustainable business models, and fostering collaboration between organizations will facilitate the growth and scaling of the sector. To address these needs, OFN, with the support of the CDFI Fund, will offer trainings and technical assistance in three key areas: sustainable and feasible business models, technology, and human capital.

All training opportunities will be posted on the CDFI Fund's website in the coming months.

Those interested in learning more about the Innovations in Small Business Lending and Scaling up Microfinance series can subscribe to receive free e-mail updates here. More information about the Capacity Building Initiative, and the CDFI Fund in general, is also available on the CDFI Fund's website: www.cdfifund.gov.

ABOUT THE CDFI FUND

The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions certified by the CDFI Fund as Community Development Financial Institutions or CDFIs are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs. The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services.

ABOUT DELOITTE

Deloitte is a global organization devoted to excellence in providing professional services and advice. With access to the deep intellectual capital of more than 160,000 people worldwide, its member firms deliver services in areas of consulting, assurance and enterprise risk, tax, and financial advisory services. Deloitte Financial Advisory Services brings strong industry experience in financial transaction work restructuring impaired assets, and developing business models that can attract new capital, and providing technical assistance to troubled institutions. Deloitte's Financial Services Industry practice is a far-reaching network of practitioners who offer their experience to the world's leading federal and commercial financial services enterprises. This practice serves 83 percent of the financial services companies listed on the Fortune Global 500.

ABOUT OPPORTUNITY FINANCE NETWORK

Opportunity Finance Network (OFN) is the national network of Community Development Financial Institutions (CDFIs)-private financial institutions that are 100 percent dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. Through 2010, OFN's network has originated more than $24.2 billion in financing in urban, rural, and Native communities, and financed 782,907 housing units, 64,391 business and microenterprises, 7,674 community facilities, and created or retained 317,052 jobs. More information is available at: www.opportunityfinance.net