SAFE’s Mission Statement:
The mission of SAFE is: "To provide alternative financial products and services in support of community economic development in the low- and moderate-income communities of South Carolina."
SAFE’s Board of Directors:
Michael Lentz
TD Bank
Chairperson
Robert Thomas
Southeastern Housing Foundation
Vice Chairperson
Kimberly Davis
Wachovia
Treasurer
John Whittleton
City of Lake City Secretary
Marcia Benson
Bank of America
Roger Earnhardt
CAHEC
Dawkins Hodges
Front Porch Strategies
Douglas Snyder
The Snyder Firm Tom FaulknerNehemiah CRC Frank Knapp, Jr.SC Small Business Chamber Madison WestonSC Bank & Trust SAFE’s Advisory Board:
Valerie Williams
South Carolina State Housing and Finance Development Authority
Russ McCoy
First Citizens Bank
Marilyn Drayton
Carolina First Bank
Sue Berkowitz
Appleseed Legal Justice Center
Sidney Evering
Parker, Poe, Adams and Bernstein Michele AbrahamSC Small Business Development Center Tim ChandlerUSDA History
The Southern Association for Financial Empowerment was established by the South Carolina Association of Community Development Corporations (SCACDC) in response to the need for a statewide provider of flexible innovative capital for CDCs. We have made tremendous progress towards becoming a sustainable Community Development Financial Institution (CDFI).
Below is a summary timeline of our activities:
SAFE, South Carolina’s only CERTIFIED Community Development Financial Institution (CDFI) with a statewide mission of providing financial assistance to nonprofit organizations undertaking projects in low- and moderate-income communities, has accomplished the following goals as part of its sustainability strategy:
2011 HIGHLIGHTS
*In March 2011, the SAFE Governing Board of Directors adopted a small business microloan product and strategy! Rollout and capitalization is underway!
2010 HIGHLIGHTS
*In March 2010, SAFE was notified of its approved status as a federally-certified CDFI.
*Evaluated small business lending opportunities and developed a small business lending strategy.
*Expanded staff with a seasoned former Commercial and Business Banker to provide Development Services and Small Business Lending.
* Participated in the Opportunity Finance Network Southeast Regional Conference regarding Building the Capacity of CDFIs in the Southeast. SAFE’s staff was asked to participate on a panel regarding Capitalization. This distinction was due to SAFE’s emerging leadership in the CDFI field and its thought leadership on the role of CDFIs in addressing South Carolina’s community economic development challenges.
2009 HIGHLIGHTS
*In 4Q2009, SAFE expanded the expertise of its Governing and Advisory Board members with the addition of new talent in the following disciplines: a public housing authority executive director, a municipal manager, an attorney with experience in the Neighborhood Stabilization Program, and a former executive with a large regional foundation. This additional talent is particularly important as SAFE has diversified its mission in view of the current real estate crisis to include working with municipalities, leverage foundation capital to create a loan pool to support both real estate and non-real estate businesses, and to broaden SAFE’s capacity to serve as a CDFI intermediary for other CDFIs in South Carolina.
*Extended its first 2 bridge loans to support a 4-unit owner-occupied rehabilitation project and to support a multi-use development project that will redevelop 75 acres of land and 500 housing units into a complex of commercial, single family housing, multifamily housing, a park and community recreation center.
* Developed and refined underwriting criteria for its initial rollout loan product (bridge loans) with the input of the banking community, community-based organizations throughout South Carolina, and its Advisory Board.
* Attended the 2007 and 2008 CDFI Institute in Washington, D.C. and established a working relationship with Capmark, one of the most successful and innovative New Markets Tax Credits (NMTC) allocatees in the country.
* The SAFE Board of Directors adopted the amended bridge loan product guidelines, application and Loan Review Committee guidelines.
* Retained the Community Investment Corporation of the Carolinas (CICCAR) to underwrite and service SAFE's loan portfolio.
* Created a comprehensive loan capitalization strategy segmented by banks, foundations, and federal/state capital resources which promotes aggressive board engagement in fundraising to promote organizational sustainability.
Development Services Events Are Continuing! (See our News Page for Dates, Times, Locations) *2011 efforts will be geared towards funding sustainable, high impact projects that benefit South Carolina’s distressed communities. Please complete our Project Information Form.
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