Notes from the 9.17.19 Joint Lending Committees Meeting

November 07, 2019

In case you missed the joint Mortgage and Small Business Lending Committees Meeting on 9/17/19, details of the meeting are included below. Detailed meeting minutes can be found here.

We were joined by Dave Madan of Boston Investments and founding member of the Builders of Color Coalition (BCC). BCC convenes minority real estate professionals in Greater Boston’s building sector for the purposes of mutual professional development and leveraged access to development projects. Dave will discuss BCC’s recent efforts, including takeaways from the Minority Developers Financing Forum. The spring forum was organized by (BCC), African American Real Estate ProfessionalsFederal Home Loan Bank of BostonMassHousing, and the Massachusetts Community & Banking Council and sponsored by The Grossman Companies. It focused on commercial real estate development financing, to increase access to capital among minority developers by connecting them with a range of financial institutions — predominantly banks — seeking to diversify their client portfolios.

In addition, Ashlee Cunningham from Capital Impact Partners jointed us remotely to share the history, evolution, and expansion of the Equity Development Initiative (EDI). In partnership with JPMorgan Chase & Co., Capital Impact launched the $5 million initiative to help minority real estate developers participate in Detroit’s continued economic recovery by providing them with critical technical assistance, professional mentorship, and access to capital. The program recently expanded to Washington, D.C. Access the presentation here.

Our next Mortgage Lending Committee meeting will be held on Tuesday, December 3rd from 3:00-5:00pm at Massachusetts Housing Partnership, at 160 Federal St., Boston, MA. Register here.