CDFI Action Plan Template Purpose: To develop a preliminary CDFI Action Plan that will integrate the key learning from the three-day workshop to help address the CDFI’s opportunities for growth and sustainability. The CDFI Action Plan will be revised throughout the six-month training experience either through the Mentored Cohorts or One-to-One Technical Assistance. Goal: To determine if ABC CDFI should launch a new small business loan product to its target market. Action Plan Implementation (The Action Plan and Action Steps should be aligned and complementary) Action Steps Responsibilities Timeline Resources Potential Barriers Communications Plan What Will Be Done? Who Will Do It? By When? Resources Available What individuals or organizations might Who is involved? (Day/Month) Resources Needed (financial, human, resist? What methods? political & other) How? How often? Step 1: Develop a market analysis Consultants March 2013 A. TA Grant to pay for consultants A. Banks Weekly status updates with consultants (“MA”). B. Oversight from CEO and CLO B. Concern with market saturation/competition Step 2: Development business plan Consultants May 2013 A. TA Grant to pay for consultants A. CLO Weekly status updates with consultants (“BP”). B. Oversight from CEO and CLO B. Cannibalization of other loan products Step 3: Present findings to GB. CEO June 2013 A. Influence from Loan Review Committee A. Bankers on GB Monthly updates with GB and presentation of B. Buy-in from local gov’t and others B. Concern with risk of small business lending the findings from MA and BP. Step 4: If applicable, update P/P and Chief Lending July 2013 A. Hire SBA 504 business lender A. CLO and GB Staff meeting announcing new products and create a marketing campaign. Officer (“CLO”) B. At least $10k for marketing/promotion B. Want conservation underwriting for P/P weekly updates of marketing campaign. Step 5: Raise at least $10MM in CEO & Consultants December A. Create off-balance sheet loan fund A. Banks and Foundations Monthly talks with lenders and investors for lending capital 2015 B. Buy-in from local gov’t and others B. CDFI does not have a strong track record the new loan fund.
CDFI Action Plan Template Purpose: To develop a preliminary CDFI Action Plan that will integrate the key learning from the three-day workshop to help address the CDFI’s opportunities for growth and sustainability. The CDFI Action Plan will be revised throughout the six-month training experience either through the Mentored Cohorts or One-to-One Technical Assistance. Goal: To determine if ABC CDFI should launch a new small business loan product to its target market. Action Plan Implementation (The Action Plan and Action Steps should be aligned and complementary) Action Steps What Will Be Done? Responsibilities Who Will Do It? Timeline By When? (Day/Month) Resources Resources Available Resources Needed (financial, human, political & other) Potential Barriers What individuals or organizations might resist? How? Communications Plan Who is involved? What methods? How often? Step 1: Develop a market analysis (“MA”). Consultants March 2013 A. TA Grant to pay for consultants B. Oversight from CEO and CLO A. Banks B. Concern with market saturation/competition Weekly status updates with consultants Step 2: Development business plan (“BP”). Consultants May 2013 A. TA Grant to pay for consultants B. Oversight from CEO and CLO A. CLO B. Cannibalization of other loan products Weekly status updates with consultants Step 3: Present findings to GB. CEO June 2013 A. Influence from Loan Review Committee B. Buy-in from local gov’t and others A. Bankers on GB B. Concern with risk of small business lending Monthly updates with GB and presentation of the findings from MA and BP. Step 4: If applicable, update P/P and create a marketing campaign. Chief Lending Officer (“CLO”) July 2013 A. Hire SBA 504 business lender B. At least $10k for marketing/promotion A. CLO and GB B. Want conservation underwriting for P/P Staff meeting announcing new products and weekly updates of marketing campaign. Step 5: Raise at least $10MM in lending capital CEO & Consultants December 2015 A. Create off-balance sheet loan fund B. Buy-in from local gov’t and others A. Banks and Foundations B. CDFI does not have a strong track record Monthly talks with lenders and investors for the new loan fund.
CDFI_Action_Plan_Formulation.docx