Guest: Azra Samiee

Azra and Mark introduce Inclusiv’s new business lending program for credit unions in New York state. 

IN THIS EPISODE:

  • (00:00) Introduction to credit union services and business lending solutions, including loan participations, SBA lending, and loan workouts for credit unions nationwide and Puerto Rico
  • (01:26) Azra shares her career journey in community economic development and working with CDFI credit unions to expand financial inclusion for underserved communities
  • (04:07) Discussion of the community outreach of credit unions, making them different from the banking industry 
  • (06:05) Overview of Inclusiv as a CDFI network supporting community development to help low and moderate-income communities achieve financial inclusion 
  • (08:33) Details on Inclusiv’s Small Business Capital Initiative training program launching October 1st, an eight-week course for credit unions to serve small business loan programs 
  • (11:28) Explanation of Inclusiv’s loan participation marketplace and loan loss fund, and the new Inclusiv Business Forward, helping CDFI credit unions expand small business lending

KEY TAKEAWAYS:

  • Inclusiv’s Small Business Capital Initiative training is an eight-week program designed for credit unions looking to start or expand their small business lending programs, covering everything from identifying community lending needs to navigating NCUA and SBA regulations with expert guidance.
  • The loan participation marketplace allows CDFI credit unions to manage risk and strengthen liquidity through small business loans and mortgages, with Inclusiv co-investing alongside credit unions and offering a loan loss fund that provides up to 20% guarantee on charged-off balances.
  • The new Inclusiv Business Forward program in New York State enables community development credit unions to purchase up to 35% of each small business loan, specifically targeting socially and economically disadvantaged entrepreneurs who have been historically excluded from affordable financial services.
  • Success in credit union small business lending requires more than just loan products; it demands assertive outreach and marketing strategies, deep community engagement, and high-touch relationships that distinguish CDFI credit unions from traditional banks in serving underserved communities.

RESOURCE LINKS:

Mark Ritter Website
Mark Ritter – LinkedIn
Azra Samiee – Linked
InSmall Business | Inclusiv

Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.