Chicago Neighborhood Initiatives Micro Finance Group (CNIMFG).< >
Strategic Capacity Building.< >
In May 2013, a Chicago based emerging CDFI engaged FUND Consulting to complete a CDFI Readiness Assessment to understand the organization’s potential of becoming a CDFI. The FUND Consulting project team analyzed the organization, its financials, and its Board to assess fulfillment of the seven requirements to becoming a CDFI. Based on these findings, FUND Consulting completed and delivered a report outlining which of the seven requirements the client fulfilled with recommendations and strategies on meeting the remaining requirements. Once those recommendations were implemented, FUND Consulting completed and submitted a CDFI certification application which included comprehensive narratives on each of the seven required CDFI criteria and an assembly of all required attachments, including the creation of tables and a map. To further its capacity as an emerging CDFI, in August 2013, the organization enlisted the services of FUND Consulting to complete and submit a FA application on its behalf. CNIMFG received $140,000 in funding, and is now a member of the strategic package cohort, having completed a market study, strategic plan, capitalization plan, and additional funding applications.