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From YouTube: Mountain Community Capital Fund
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B
Thank
you
angelica
good
morning.
Everyone
welcome
to
the
december
3rd
meeting
of
the
mountain
community
capital
fund.
I
hope
everyone
had
a
great
holiday
and
are
getting
back
into
the
groove
this
week.
For
today
my
name
is
tim
love,
I'm
the
vice
chair
for
the
mccf,
I'm
stepping
in
for
jeff
kaplan,
who
is
the
chair.
B
So
with
that
said,
we
will
go
ahead
and
begin
the
roll
call
I'm
going
to
go
through
the
list.
If
you
would,
please
raise
your
hand
and
indicate
that
you
are
present
in
the
meeting.
That
would
be
great
rachel,
nygard.
B
B
B
Frank,
your
your
ears
must
be
burning.
We're
just
talking
about
you,
I'm
here
excellent,
so
frank
is
present.
Based
on
my
count,
I
believe
that's
quorum
for
this
meeting,
so
I
think
we're
good
to
proceed
with
the
meeting
as
the
agenda
indicates.
B
B
We
have
a
motion,
and
a
second
at
this
point
we'll
go
to
the
vote.
We'll
go
as
a
roll
call
style
for
this
vote
down
the
list.
Rachel
myguard.
F
B
B
I
have
one
brief
update
to
share,
but
would
ask
rachel
nygard
to
chime
in
as
well
the
buncombe
county
commissioners,
through
their
american
rescue
plan.
Local
fiscal
recovery
fund
allocations
have
awarded
a
sum
to
the
mountain
community
capital
fund
and
specifically
to
self-help
who's
the
fiduciary
of
this
fund.
B
So
that's
a
really
exciting
news,
because
at
our
last
meeting
I
think
everyone
recalls
that
we
had
officially
run
out
of
money,
and
so
this
comes
at
a
great
time
to
kind
of
keep
the
momentum
moving
forward
and
so
really
excited
about
that
rachel.
Is
there
anything
you'd
like
to
share
from
your
perspective
on
these
funds.
C
Sure
happy
to
jump
in
this
is
rachel.
As
you
might
know,
the
american
rescue
plan
act.
Funds
are
administered
through
the
strategic
partnership
office
at
buncombe
county,
so
our
team
is
working
to
implement
the
all
of
the
different
steps
necessary
to
get
the
funding
in
to
the
mountain
community
capital
fund,
so
it
can
be
used
for
more
loan
guarantees.
C
We
anticipate
that
it
will
pass
unanimously
unless
they
learn
any
new
information.
That
would
change
course,
because
it's
already
had
one
vote
after
that
necessary
vote
related
to
economic
development.
Then
we
move
into
contracting,
and
so
our
staff
will
be
reaching
out
to
self-help
ventures
fund
to
get
the
written
agreement
in
place.
These
are
federal
dollars.
Instead
of
local
dollars,
so
it
will
look
a
little
bit
different
than
the
first
time.
C
Buncombe
county
put
funds
into
the
project
but
similar,
and
hopefully
we
can
keep
that
moving
at
a
fairly
good
speed
and
we
will
keep
the
team
posted
in
terms
of
how
soon
the
lenders
can
begin
using
that
guarantee.
B
B
I'll
I'll
defer
to
rachel
the
public
hearing,
you
know
we'll
know
immediately
on
tuesday
the
status
of
that,
but
in
terms
of
other
documentation,
rachel.
C
It's
it's
hard
to
estimate,
I
would
say
near
the
start
of
the
year,
but
really
until
we
get
our
contracting
teams
together
to
gather
and
execute
all
of
the
necessary
documents.
It's
hard
to
estimate.
H
I
will
just
go
ahead
and
chime
in
and
say
our
legal
team
is
out
the
last
two
weeks
of
the
year
on
a
much.
C
A
B
Awesome,
nikki
or
frank.
I
wondered
if
we
could
inquire
about
next
steps
for
the
city's
process.
As
you
know,
there
was
also
an
mccf
submission
in
the
city's
rfp
process.
I
I
I
have
a
little
bit
of
information.
I
have
some
information,
but
d
has
her
hand
up
which
I'm
assuming
relates
to
the
previous
item.
J
I
So,
in
regard
to
the
city
of
asheville's
arpa
application
process,
we
put
an
rfp
out
the
city
received
78
submissions
of
those
and
the
don't
quote
me
on
any
of
these
numbers,
because
I'm
not
the
project
manager,
but
I've
been
working
closely
with
folks
and
that
that
78
submissions
includes
both
internal
and
external
projects
of
those.
I
Were
ida
were
proposals
that
we
could
in
fact
fund
and
met
the
terms
of
the
rfp.
There
is
a
evaluation
panel
that
is
cross-functional
and
it's
internal
staff
only
that
is
being
led
by
kim
marman
sax
and.
I
There
is
a
council
meeting
in
early
january
and
recommendations.
I
believe
the
plan
is,
recommendations
are
going
to
council
and
I'm
not.
Actually,
I
can
tell
you,
which
date
give
me
one.
Second,
I
believe
that's
going
to
council
on
january
11th
for
for
initial
recommendations
and
consideration
by
council,
so
somewhere
around
that
time,
we
may
get
some
direction
from
council
as
to
what
what
they
are
interested
in
funding.
Oh
and
to
what
extent.
So
that's
that's
my
knowledge
and
understanding
rachel.
Do
you
have
a
question.
I
I
I
don't
have
that
number
nikki
may
know.
B
Yep-
and
I
remember
matt
breaker
mentioning
it-
I
don't
want
to
speak
because
I
don't
know
for
sure
yazlin
do
you
do
you
know
by
chance.
G
I'm
I
don't
remember
the
exact
amount
or
the
number,
but
I
can
I
can
check
with
him.
B
J
Just
wanted
to
ask
a
question
about
the
timeline
I
thought
december.
15
was
a
a
timeline
that
was
supposed
to
be
met
as
far
as
notification
that
has
been
extended,
I
gather,
and
will
that
be
put
into
the
city
purchasing
site
to.
Let
folks
know
that
that
is
the
january
date.
Is
the
date
of
notification.
Do
you
know
anybody
know.
I
I'm
I'm
unclear
on
whether
there
are
initial,
if
there's
an
any
initial
information
going
to
council
on
the
14th
or
not
that
that
has
moved
around
a
bit.
So
I
don't
know
that
anything
has
officially
changed.
But
to
be
honest,
I
I'm
sorry
I'm
just
not
the
project
manager.
So
I
don't
know.
I
If
that's
the
case,
I
do
think
that,
if
dates
shift
in
terms
of
award,
they
will
probably
publicize
that,
through
our
public
input
site,
that's
usually
how
they
would
handle
that,
because
we've
moved
out
of
the
phase
of
the
rfp.
So
now
we've
received
the
rfp.
If
the
timeline
is
going
to
shift
in
terms
of
date
of
award,
they'll
probably
put
it
out
through
public
public
input.
B
B
I
B
B
Awesome
thank
y'all
well
at
this
point,
we'll
move
into
a
new
business.
There's
two
items
here:
one
is
a
request
to
see
if
there's
any
loan
presentations
today,
we've
got
two
cdfis
on
the
call
mountain,
bizworks
and
self-help
one
item.
I
guess
we
should
note
up
front
since
funds
have
not
actually
been
allocated
to
the
fund.
B
I
I
don't
know
that
we
actually
have
guarantee
dollars
to
approve,
but
would
be
great
to
hear
if
there's
loans
in
the
pipeline
for
discussion,
and
maybe
we
can
move
that
to
a
future
meeting.
If
that's
agreeable.
G
Yes
yeah,
so
we
do
have
some
deals
in
the
pipeline,
which
is
why
I
asked
about
the
timeline,
because
we've
got
to
kind
of
work
with
those
clients
to
to
on
a
closing
time
and
just
timeline
expectations.
G
So
we
do
have
a
few
deals
in
the
pipeline.
However,
I
don't
have
them
ready
to
present
today.
B
Understood
well,
our
next
meeting,
I
believe,
is
january
looking
for
the
date
and
so.
B
January
7th
got
it
so
I
think
hopefully
you
know
self-help.
We
can
bring
the
contractual
documents
to
closure
pretty
quickly
so
that
because
january
7th
is
right
around
the
corner.
So
I'm
assuming
we
don't
get
it
going
in
the
next
couple
weeks.
Then
we
may
be
looking
gasoline
for
your
point
of
view.
At
a
february
timeline.
C
Right
for
approval
january
7th
feels
assertive,
but
we'll
try
for
it
and
see
what
we
can
make
happen.
B
E
G
It's
a
it
can
be
situational
a
lot
of
the
times.
Yes,
we
will
not
make
a.
We
not
approve
a
loan
if
we
do
not
have
the
mctf
guarantee.
G
C
This
is
rachel.
I've
got
a
follow-up
question
on
the
timeline.
Yes
lean
you
mentioned,
there
are
some
deals
in
the
pipeline.
Are
they
at
the
threshold
level
that
would
require
mccf
operating
committee
approval
or
at
the
threat
under,
so
that
biswork
could
approve.
G
I
think
we
have,
I
believe
we
have
two
under
and
two
over,
so
we
would
have
to
wait
for
those
two
over
I
mean
I
guess
the
question
would
would
would
be
if,
if
we
because
of
the
circumstance-
and
you
know
trying
to
wait
on
on
this,
if
the
applicants
were
to
need
the
funding
fairly
quickly,
could
we
backtrack
the
guarantee
on
specific
loan?
G
Okay,
I'm
not
backtrack.
Sorry.
Can
we
apply
the
the
guarantee
on
those
loans
retroactively
once
the
funding
funds
come.
C
This
is
rachel
I
was
going
to
say:
I'd
have
to
look
at
the
written
documents
to
see
if
it's
covered.
I
don't
remember
seeing
that.
D
I
was
also
thinking
too,
for
what
it's
worth
that
could
create
bias
in
our
decision
making
process
for
those
loans.
Given
that
we
know
they've
have,
you
know,
had
to
cut
get
rush.
Funding
so
would
put
us
at
a
probably.
You
feel
more
compelled
to
approve
that
compared
to
normal
circumstances.
J
Thank
you.
I
would
agree
just
simply
because
it's
not
it
doesn't
seem
procedural.
As
far
as
what
I'm
read
from
the
documents
and
also,
if
you
would,
I
mean
internally,
if
you
had
a
process
to
do
a
bridge
or
whatever
you
could
do
it,
but
unless
it
violates
your
underwriting
guidelines,
which
it
probably
does,
I
wouldn't
want
to
do
it
either.
As
far
as
this
loan
proof
fund
is
concerned,
also,
I
had
another
follow-up
question
about
the
refinancing
portion
of
it.
J
You
know
in
the
documents
which
you
exist
now
refinancing
packages.
I
believe
there
are
two
of
them
if
they're
done,
if
they're,
two
or
more,
that
triggers
a
stock
clause.
So
I
guess
when
talking
about
these
loans,
such
are
these
these
two
loans,
any
of
these
loans
on
your
books
already
and
you're,
just
refinancing
them
and
transferring
them
to
mount
mccl.
G
J
B
H
This
is
tim.
This
may
be
dipping
into
the
next
portion,
but
to
make
that
bridge
great
one
thing
is
that
we
don't
yet
have
an
assigned
that
I'm
aware
of
a
credit
underwriting
committee,
which
would
be
a
subcommittee
of
the
operating
committee
and
it's
the
responsibility
of
the
credit
underwriting
committee
to
like
thumbs
up
the
loans
over
seventy
thousand
dollars.
H
So
there
could
potentially
be
an
option
if
funding.
If
we
have
funding
in
hand
prior
to
like
after
the
january
meeting,
but
before
the
february
meeting,
that
the
credit
underwriting
committee
could
meet
on
that,
throwing
that
out
as
a
potential
midway
option.
And
then
then
we
would
have
to
report
out
at
the
february
meeting.
B
Thanks
jesse,
that's
a
good
suggestion
so
to
let's
revisit
that
in
just
a
second
but
jason.
To
your
general
comment,
I
think
the
committee
is
leaning
towards
let's
just
wait,
keep
it
clean,
which
I
think
makes
sense.
That
said,
I
think
dee
is
kind
of
right.
You
know
any
lender
can
lend
at
risk
like
you
lend
under
your
own
procedures,
and
so
you
can
certainly
proceed.
J
B
But
yeah
at
risk
of
not
being
supported
so
but
that's
not
the
spirit
of
this,
but
I
think
from
our
perspective
we
it
sounds
like
we
wait.
G
No,
that's
fine.
I
we
are
already
tracking
and
accommodating
to
make
sure
that
we
can.
You
know
the
clients
are
aware
the
expectations
at
this
point,
but
you
know,
of
course
a
lot
of
them
are
eager
to
go
ahead
and
get
the
funding,
so
they
can
get
to
work
and
so
just
a
suggestion.
But
thank
you.
B
G
B
Very
good
so
frank:
we
expect
2
million,
just
sorry
local
government
humor,
so
I
think
for
loan
presentations.
Thank
you,
yasolin
jesse,
representing
self-help,
anything
or
y'all
you're,
good
cool.
So
that
concludes
our
new
business
item
for
loan
presentations.
We'll
now
proceed
to
our
next
item,
which
is
a
discussion
on
review
of
committee
procedures.
B
H
Tiptoed
into
it,
that's
generous,
like
come
on
guys,
let's
review
the
procedures
and
in
an
effort,
so
I
tested
this
out
with
angelica
earlier.
Let's
hope
that
I
can
do
it
share
my
screen,
so
bear
with
me
for
just
a
second,
because
this
is
my
second
time
doing
this
on
google.
H
Okay,
so
I
will
do
my
best
to
see
if
there
are
questions
and
stuff,
but
if
I
miss
it
just
holler,
so
this
is
gonna,
try
and
make
it
as
interesting
as
possible,
but
there
are
a
lot
of
documents
in
the
background
that
were
established
and
signed
off
on
way
at
the
very
beginning
of
this
fund,
and
I
know
that
we
have
some
new
folks
that
have
come
on
and
also
we're
humans
and
forget
things.
H
H
Given
that
this
fund
has
been
we've
we're
gaining
a
little
bit
of
traction,
we've
got
some
new
dollars
coming
in
we're
starting
to
really
settle
into
what
we
want
the
fund
to
be
so
queuing
up
just
to
establish
our
baseline
so
that
we
can
work
together
to
move
forward.
So
I
did
send
out
an
email
on
the
15th
with
all
of
the
documents
and
I'm
going
to
say.
H
Hopefully
you
had
a
chance
to
read
them,
but
if
you
didn't
that
is
a-okay,
because
we
are
all
very
busy
I'm
going
to
give
some
top-line
points
that
really
impact
what
we're
doing
right
now.
But
I
would
recommend
that
at
some
point
you
do
go
back
through
and
just
read
through
all
of
the
all
of
the
documents.
Just
so
that
you
have
that
four
knowledge
points.
H
F
H
H
So
it's
not
everybody
on.
I
think
it's
five
members
of
the
operating
committee,
whose
responsibility
it
is,
is
to
review
loans
over
a
certain
dollar
amount
and
also
to
review
any
potential
problematic
loans
or
loans
that
have
otherwise
been
articulated.
H
That
need
some
sort
of
review
for
the
first
six
months
to
a
year
after
enrollment
and
we'll
go
over
that
this
committee
is
the
one
that
would
be
responsible
if
we
ever
hit
any
trigger
point
to
issue
a
moratorium
and
then
to
decide
action
here
on
out
so
again
reviewing
closed
loans,
monitoring
volume
and
delinquencies
and
defaults,
which
is
easy
because
we'll
have
a
quarterly
report
that
makes
that
more
digestible
trigger
points,
review
and
modify
loan
underwriting
criteria
as
required
and
we'll
spend
a
little
bit
of
time.
H
Looking
at
the
underwriting
criteria
that
was
initially
agreed
on
raising
capital
to
augment
the
fund,
though
that
does
so
far
seem
like
quite
a
team
effort
and
then
decide
if
and
when
it's
time
for
the
fun
to
sunset,
and
this
can
be
found
in
the
services
and
duties
agreement.
H
The
credit
underwriting
committee-
yes,
okay,
so
it
is
five
members
and
then
they
have.
You
know
representative
members,
someone
from
the
city,
someone
from
the
county,
not
not
a
participating
lender.
That
would
be
a
conflict
of
interest
loans.
We've
agreed
that
loans
over
70
000
would
need
approval
by
the
credit
underwriting
committee.
H
Loans
50
to
70
would
be
open
to
a
review
period
over
12
months,
which
is
really
just
monitoring.
What
that
looks
like.
H
And
then
the
oh,
this
is
the
important
part.
Hopefully
you
know
in
theory,
we'll
never
come
to
this,
but
realistically
we
will
at
some
point.
If
one
of
the
lenders
says
you
know,
we've
done
everything
in
our
power
to
try.
You
know
this.
Loan
is
defaulted.
We've
tried
everything
to
recoup
the
funds
we've
worked
with
the
borrower.
H
We
just
need
to
charge
this
off
and
apply
for
the
guarantee
they
would
submit.
That
guarantee
request
to
the
credit
underwriting
committee.
Who
would
then
confirm
the
amount
confirm
the
guarantee
and
give
the
a
plus
where
they
would
this
committee
would
then
let
self-help
know,
and
then
we
would
issue
like
reimburse
whichever
lender
it
is
any
questions
on
this
so
far,
rachel.
C
Hey
this
is
rachel,
I'm
I'm
struggling
to
remember
why
it
was
that
we
held
off
on
formation
of
the
credit
underwriting
subcommittee,
but
I
seem
to
recall
that
there
was
a
numbers
issue.
There
are
not
very
many
voting
members
in
the
entire
committee
itself
and
so
having
a
five-member
subcommittee
of
somewhere
like
around.
C
Maybe
is
it
eight
total
voting
members
felt
awkward,
and
so,
as
I
listened
to
this
presentation
on
this
section,
I'm
listening
for
whether
you're
recommending
that
we
put
steps
in
place
to
form
this
committee
and
comply
with
our
services
and
duties
agreement
or
that
we
flag
this
as
a
potential
restructure.
H
J
D,
yes,
I
thank
you.
This
is
dee.
I
do
remember
that,
as
you
say
that
there
weren't
that
many
voting
members
anyway
and
that
we
sort
of
all
formed
the
credit
underwriting
committee
depending
on
the
threshold
of
the
loan.
It's
fine
with
me.
I
mean
just
like
anything
else.
Any
other
group
does
as
far
as
consensus
is
concerned.
If
you
want
to
pick
or
select
who
you
want,
that
is
fine.
J
Some
of
us
are
much
more
conservative
than
others,
and
so
I
would
just
say
that
I
guess
that
is
my
purview
and
because
we
don't
have
a
lot
of
data
right
now
on
how
these
loans
are
performed
simply
for
the
fact
that
a
lot
of
them
have
been
delayed
or
not
really
delayed,
but
no
principal
or
and
interest
payments
were
due
for
a
period
of
six
months.
J
So
I
guess
I'm
the
type
of
person
that
wants
to
know
data
in
terms
of
how
something
is
performing,
and
then
I
want
a
consistent
approach
in
reporting
that
data
quarterly
is
fine.
I
mean
it's
fine,
it's
just
that
we
haven't
had
a
lot
of
consistency
and
a
lot
of
data
reported
that
we
can
chart
the
performance
of
the
loans.
It
seems
that
they're
going
pretty
well
right
now,
but
that
would
be
just
my
input.
J
Whatever
the
committee
would
decide,
I
don't
particularly
care
to
serve
in
any
capacity
that
I'm
not
particularly
deemed
necessary
for,
but
I
would
just
interject
that
that
was
the
initial
reason
is
because
there
were
so
few
of
us-
and
I
guess
folks
didn't
want
to
exclude
folks.
So
that
was
just
my
input.
Thanks.
C
H
I
think
there
we
go
so
again
with
the
underwriting
committee
or
the
whole
committee.
Just
re
reiterating
our
trigger
points.
A
trigger
point
is
a
point
at
which,
basically,
we
have
to
call
a
halt
on
lending
until
we
figure
something
out.
One
would
be
the
origination
volume
so
in
the
services
and
do
these
agreements.
We
basically
have
a
one-to-one,
so
once
we
secure
additional
funding
in
the
pool,
then
we
can
do
additional
lending.
H
The
other
one
is
delinquency
we
can't
exceed
20
and
then
the
other
one
is
the
average
annual
credit
loss.
Defaults
cannot
exceed
five
percent,
so
these
are
three
trigger
points
that
we
will
be
monitoring
and
in.
H
I
think
it's
the
next
slide
or
the
slide
after
I'll
show
where
that,
where
that
shows
up
on
the
recording
document
that
we're
working
to
confirm
for
those
quarterly
reports.
Yesterday.
J
On
mute,
oh
I'm,
so
sorry,
please
excuse
me.
We
also
had
a
trigger
point
of
refinancing.
Has
that
been
deleted,
or
is
that
something
you
don't
want
agreement
yeah.
H
J
I
looked
at
the
operating
documents
that
I
got
and
I
saw
it
so
it's
been
a
while
I
probably
need
to
revisit,
but
we
discussed
this
you'll
find
that
in
some
of
the
minutes
that
we
had
where
we
were
concerned
about
the
refinancing
issue,
it
may
be
in
the
weeds
somewhere,
but
we
saw
it
and
we
did
discuss
it
so
I'll
have
to
review
back
again
it's
been
a
while,
but
that
was
one
of
the
triggering
things
we're
refinancing,
particularly
from
the
lender,
from
their
portfolio
to
overture.
Ours.
H
Yeah,
so
I
yeah
I
I
remember
you
mentioning
that
and
I
still
I
haven't
found
any
evidence
of
it.
If
you-
and
I
know
you're
on
the
road,
so
not
asking
this
immediately,
but
you
know
understanding
that
I
just
might
have
read
these
documents
too
many
times
and
so
miss
it,
because
that
happens.
If,
if
you
could
find
that
spot,
that
would
be
really
helpful,
because
if
it
is
something
that
we're
missing,
then
we
definitely
need
to
bring.
I.
J
Could
be
wrong,
but
I
do
remember
us
discussing
it
coming
up
as
a
trigger
point,
so
I
mean
you
know
it's
been
a
while,
but
I'll
try
to
revisit
pull
it
up
and
send
it.
I
only
have
hard
copies
of
the
dock.
I
don't
have
an
electronic
file
on
it
did,
I
think,
was
gearing
out
as
a
hard
copy
and
put
into
a
manual
for
us.
So
that's
where
I'm
coming
from
and
I'll
pull
it
up
as
soon
as
I
get
back
to
my
place,.
H
D
Thank
you.
So
I
was
just
wondering
for
the
language
there
in
section
11.02
and
there's
more
detail
around
that
that
you
know,
for
the
sake
of
time,
you're
not
pulling
into
this,
because
I
was
wondering
if
these
terms
are
defined
more
so,
for
example,
the
delinquency
you
know.
What
exactly
does
that
mean?
You
know
from
from
the
lending
perspective
and
I'm
not
a
lender?
Is
it
30
days
delinquent?
Is
it
60
days?
D
You
know
average
annual
credit
loss,
like
you
know,
just
kind
of
like
very
defined
ways
on
what
what
these
mean,
because
it'll
be
hard
to
track.
If
we
people
have
different
definitions.
H
Yeah,
that's
a
great
question
and
that's
some
detail
that
we
can
add
in
so
this
is
the
trigger
point.
This
is
the
section
in
the
services
and
duties
agreement
in
the
operating
committee
procedures.
It
goes
into
a
little
bit
more
detail,
which
is
where
we
can
pull
out
the
it
cannot
exceed
twenty
percent.
It
cannot
exceed
five
percent.
That's
where
that
detail
is
in
terms
of
defining
delinquency.
H
I
it's
it's.
If
they
missed
a
payment,
then
it's
delinquent
and
when
they
make
that
up,
then
it's
no
longer
delinquent,
but
I
I
have
not
seen
anywhere
where
that
is
outlined,
and
I
think
that
you're
making.
I
appreciate
that
point
that
it
would
be
helpful
for
committee
members
and
if
anybody
in
the
public
is
listening
in
to
have
those
more
clearly
articulated,
so
I
think
that's
something
that
we
can
add
in.
I
don't
actually
think
any
of
that
needs
an
amendment.
H
That's
just
detail
to
be
added
and
then
the
credit
loss
is
default.
That's
when
you
that's!
When
the
loan
like
we
say,
the
loan
is
bad.
We
need
to
apply
for
the
guarantee
so
that
credit
or
like
that
loan
is
we've
lost
that
those
dollars
or
that
loan.
H
But
yes,
we
can
add
that
in
yes
lean,
you
may
have
it
somewhere.
Yesterday.
G
Yeah
so
usually
a
delinquency:
a
loan
is
delinquent
after
30
days,
because
we
do
credit
report
after
30
days.
So
usually
that's
when
it.
It's
declared
delinquent
loan.
G
Yeah
so
technically
I
guess
it
would
be
29
days
before,
so
we
if
they
were
not
able
to
to
make
their
payment
or
for
some
reason,
mr
payment-
we
do
have
you
know
we'll
work
with
them,
but
we
do
let
them
know
if
they
do
not
make
up
the
payment
within
30
days.
G
It
will
be
reported
on
their
credit
report,
so
we
can
either
split
the
payments
up
in
two
payment
or
the
payment
and
two
payments
within
that
30
days
or
have
them
make
payments
so
essentially
they're
not
late
or
do
an
interest
only
period
if
need
if
they
need
it.
H
H
This
is
in
from
the
services
and
duties
agreement
in
terms
of
because
I
know
that
we
had
talks
around
what
what's
confidential
and
what's
not
confidential
and
the
people
who
wrote
these
documents
were
thinking
about
it.
So
information
about
borrowers
and
applicants,
business
plans,
financial
conditions
is
confidential
to
the
lender,
information
about
participating
lenders.
H
So,
like
us,
biz
mountain
biz
works,
self-help,
carolina,
small
business,
business
goals,
work
plan
strategies,
initiatives
is
confidential,
anything
that
a
participating
lender
marks
as
confidential
or
any
obvious.
This
is
like
the
technical
stuff
media
used
to
store,
transmit
record
and
body
or
otherwise
memorial
such
confidential
information
is
also
confidential.
H
So
that's
also
a
piece
there
and
wanted
to
thinking
back
to
some
of
our
past
conversations
in
the
last
month
or
two.
If
anybody
had
any
questions
about
confidentiality
and
what
that
might
look
like
yeah
maui.
D
Sorry,
this
is
just
me,
don't
apologize
said
this.
Does
this
mean
confidential
to
the
lender,
which
means
we're
not
privy
to
this
information
as
the
committee
right
or
is
this
confidential
to
the
general
public?
Like
I
mean,
I
know
that
this
is
a
public
forum
essentially,
but
but
what
does
this
exactly
mean
this
who's,
it
being
confidential
to.
H
That's
a
great
question.
I
know
for
sure
this
is
confidential
to
the
public
and
I
think
you're
right
that
we
need
to
look
into
more
details
around
what
is
confidential
to
the
lender
versus
what
is
confidential
to
the
credit
underwriting
committee
rachel.
Do
you
have
a
sense
of
that?
This.
C
J
Okay,
thank
you.
This
is
dee.
I
was
just
I
guess,
along
the
lines
that
rachel
was
talking
about,
because
if
we
aren't
privy
to
certain
information,
we
really
can't
do
our
job.
I
know
that
we
are
not
probably
and
considered
on
the
level
that
a
bank's
internal
credit,
so-called
credit
committee,
would
be,
and
thus
privy
to
certain
information,
but
certainly
by
these
being
public
funds.
J
That
is
our
purview,
and
so,
if
we
can
come
up
with
mechanisms
so
that
these
individuals,
individual
identities,
I.e
consulting
an
attorney
like
a
city
or
county
attorney
as
we
have
before.
J
If
that
is
concealed,
and
we
can
do
our
jobs
and
protect
the
public
interest
and
these
funds
that
we've
been
designated
to
to
look
out
for
and
protect.
I
think
that
is
the
whole
issue
we
are.
We
might
as
well
not
even
exist
and
just
have
the
lenders
making
these,
according
to
whatever
criterion
that
they're
setting
up,
and
that
would
be.
My
only
comment
is
that
we
would
probably
be
just
unnecessary.
J
D
Kind
of
camping
out
aren't
we
yeah,
so
one
metric
in
particular
that,
whether
it's
shared
in
the
public
forum
or
just
an
underwriting
committee
that
I
would
find
very
helpful,
and
I
think,
last
time
there
was
some
fuzziness
around
it.
For
me
is
the
credit
score
and
the
reason
being
is
you
know,
I
think
the
reason
this
committee
exists
is
to
essentially
help
those
who
don't
typically
qualify
for
these
loans
outright,
and
so
I
would
be
interested
to
see
hey.
D
We
maybe
we
are,
you
know,
accommodating
a
certain
chance
of
credit
scores,
I'm
using
all
the
wrong
words,
but
the
performance
of
these
loans
are
actually
this.
You
know
and
kind
of
seeing
those
test
cases
kind
of
play
out
and
without
having
knowing
credit
scores.
It's
we
don't
really
know
where
impact
is
being
made.
It's
like.
Maybe
these
are
all
lower
thresh
hold.
You
know,
lower
credit
rating
individuals
or
business
owners.
D
I
just
think
that
is
a
pretty
important
metric
that
I
would
like
to
know
and
if
and
for
not
privy
to
that,
you
know,
I
would
be
open
to
more
learning
more
about.
Why
not.
H
Sure
so
I
want
to
flag
that
piece
and
go
back
to
confidentiality.
Credit
underwriting
committee
doing
committee
doing
their
job
so
with
the
just
for
food
for
thought,
for
the
charlotte
community
capital
fund,
which
had
both
private
dollars
and
public
public
dollars
in
the
pool
how
we
did
with
this
the
confidentiality
piece.
H
There
was
a
credit
underwriting
committee
that
reviewed
any
loans
that
needed
to
be
reviewed
off,
not
on
a
public
forum,
and
they
were
privy
to
some
of
them
more
of
the
underwriting
details
and
then
the
that
was
those
and
then
the
decisions
that
they
made
were
shared
generally
with
the
rest
of
the
operating
committee.
But
none
of
the
underwriting
details
were
shared
with
the
rest
of
the
under
the
rest
of
the
operating
committee.
H
So
that's
that's
how
that
balanced
out,
just
as
a
context
on
the
credit
scores
maui.
Do
you
mind?
If
can
we
table
that
conversation
until
the
end
of
this,
because
I
have
some
personal
thoughts
on
this
and
also
an
approach
that
self-help
makes?
That
might
be
helpful
in
our
like
general
thinking
about
what
to
monitor,
and
I
also
think
that
some
things
may
be
clarified
in
the
next
couple
slides
when
we
talk
about
underwriting
yeah
rachel.
C
B
H
Yeah
and
actually,
what
might
be
helpful,
is
may
be
able
to
hit
pause
on
a
couple
of
these
points
and
we
can
pick
up
in
the
next
meeting
and
that
will
give
other
people
time
to
go
ahead
and
like
read
the
documents
all
the
way
through,
so
that
we
can
come
together
and
have
a
better
sense
of
okay.
These
are
the
areas
that
we
want
to
have
amendments.
These
are
the
areas
that
we
want
to
be
able
to
clarify
a
little
bit
more.
H
These
are
the
areas
that
make
sense
and
we
can
you
know,
operate
accordingly.
So
let's
use
this
time
limit
to
our
advantage,
I
promise
I
won't
talk
a
whole
lot
longer,
so
the
underwriting
guidelines,
so
there's
a
list
of
there's.
H
We
would
not
do
this.
Loan
is
the
general
underwriting
piece,
but
that
is
conditioned
on
the
fact
that
there's
that
one,
but
four
right
that
that
otherwise
we
would
be
able
to
do
this
loan,
except
for
one
piece.
That's
missing
or
something
that's
not
quite
there.
H
H
Here,
let
me
get
out
of
this
really
quickly.
Yeah
I
want
to
take.
H
I
stopped
sharing.
Okay,
let
me
start
sharing
it
really
quickly.
I
want
to
take
this
moment.
I
want
to
not
go
through
all
of
the
underwriting
at
this
time,
because
there
are
a
couple
other
points
that
I
that
I'd
like
to
make
to
sort
of
tee
us
up
for
a
deeper
conversation,
but
this
is
the
these
are
the
underwriting
guidelines.
H
H
There
we
go
okay,
so
this
is
d.
I
got
you
this
second
iteration
of
our
quarterly
operating
committee
report
where-
and
I
want
to
bring
up
the
two
editions
based
on
some
feedback
that
we
had.
One
was
tracking
startup
loans,
because
there
is
a
piece
in
the
underwriting
that
says
that
we
would
limit
the
number
of
startup
loans
just
on
the
nuts
and
bolts
side
need
to
figure
out
how
to
account
for
those
loans
when
they're
no
longer
startup
and
take
them
out
of
those
numbers.
H
That's
a
back-end
excel
thing,
not
a
big
deal
and
then
the
other
one
added
would
be
jobs
created,
and
we
need
to
confirm
that
that
definition,
because
I
know
that
we
do
have
arpa
money
or
will
potentially
have
arpa
money
in
some
grant
dollars,
so
funding
from
different
sources
that
may
have
different
reporting
requirements
around
jobs.
H
So
I
just
went
ahead
and
dumped
in
there.
It's
the
number
of
new
ftes
as
pledged
by
the
borrower
prior
to
loan
closing,
but
we
may
need
to
to
massage
that
a
little
bit
and
get
a
different
definition
of
jobs
based
on
the
sources
and
I'm
going
to
defer
to
city
and
county
on
that.
But
I
also
want
to
real
quick
rachel
before
say
that
there
is.
H
It
is
not
required
for
a
loan
to
create
or
maintain
jobs
in
order
to
qualify
for
this
program-
and
I
think
that's
important
to
highlight,
especially
if
we
look
at
sole
proprietors
or
those
much
smaller
businesses,
where
you're
not
going
to
see
like
that,
I'm
going
to
add
seven
jobs.
But
the
value
in
supporting
that
business
is
still
there.
Yeah.
C
Rachel
yep
just
want
to
add
the
word
retained.
I
know
that
tim
and
those
nikki,
those
that
are
working
in
economic
development,
can
give
you
more
technical
definitions,
but
we
want
jobs
created
and
jobs,
retained
and
dropped.
H
And
then
I
know
that
I
have
two
minutes
before
we
open
the
public
comments,
so
I
want
to
some
food
for
thought
around
the
credit
score,
and
I
think
this
is
worthy
of
a
deeper
conversation
too.
H
Knowing
that
credit
score
is
deeply
problematic
when
it
comes
to
sort
of
continuing
systemic
racism
in
lending
and
in
access
to
capital,
and
so
I
have
some
articles
that
I
can
share
that
that
go
deep
into
into
that
research,
around
wealth
gaps
and
how
black
and
brown
individuals
have
lower
credit
scores
for
a
variety
of
reasons
that
are
beyond
their
control.
H
And
so
I
would,
I
would
pose
to
the
operating
committee
that,
if
credit
score
feels
like
an
important
metric,
because
that's
not
that's
not
a
metric
that
that
we
that
self-help
personally,
that
as
our
institution
shares-
and
it's
also
a
metric-
that
we
are,
that
we
use
very
differently
than
a
traditional
bank
and
look
at
very
differently
than
a
traditional
bank.
In
fact.
Rarely
do
we
ever
just
look
at
the
number,
because
there
are
issues
with
credit
score
in
equity
purposes.
H
So
thinking
about
the
purpose
of
this
fund
and
how
one
of
the
efforts
of
this
fund
is
to
really
help
make
sure
that
there
is
that
we
are
providing
access
to
capital
to
black
and
brown
entrepreneurs.
H
D
Real
quick
comment:
if
you
don't
mind,
I
know
we
have
to
go,
we
have
can
we?
I
would
love
to
have
this
conversation
more.
I
just
don't
think
we
can
fully
have
do
it
justice
in
our
normal
monthly
meetings,
because
we
all
we
have
a
lot
of
agenda
items,
so
I
would
love
for
some
of
us
whoever's
interested
to
get
together
and
have
this
conversation
more
outside
of
our
monthly
meeting,
because
I
do
think
it's
a
very
important
one
to
have.
B
That's
great,
I
love
the
suggestion,
and
so
I
think
we'll
continue
the
the
broad
discussion
at
our
next
meeting
jesse
and
thank
you
so
much
for
the
leadership
on
this.
I
think
it's
really
helpful
to
maui's
question.
I
see
no
reason
why
there
can't
be
a
small
group
that
meets.
I
think
we
do
need
to
be
cognizant
of
quorum,
which
I
I
think
we
should
confirm.
But
you
know
one-on-one
with
with
jesse.
B
Maui
would
not
be
out
of
bounds
by
any
means,
but
if
there
was
someone
else
that
wanted
to
sit
in
as
a
voting
member,
we
just
need
to
make
sure
that
we
did
not
exceed.
I
think
three
so
carl's
raising
a
hand.
E
Like
that
I
had,
I
had
talked
previously
about
sort
of
getting
a
clear
understanding
of
all
that,
so
that
would
be
helpful.
That's.
B
Great
well
and
at
the
risk
of
cutting
folks
out,
but
wanting
to
be
procedural.
Why
don't
we
cap
it
at
two
and
maui
carl
jesse
y'all
connect
and
then,
if
there's
others
that
have
an
interest
in
learning
more,
we
can
schedule.
You
know
additional
conversations
and
report
out
at
our
next
meeting
in
january.
B
B
With
that
said,
I'm
going
to
conclude
our
new
business
discussion
and
ask
angelica:
are
there
any
members
of
the
public
that
have
joined
us
today?
If
so,
would
they
like
to
comment.
B
Thank
you
angelica.
So
with
that
said,
I
think
we'll
adjourn
with
about
two
minutes
left.
Our
next
meeting
is
in
january
january,
7th,
as
indicated
earlier,
which
means
I
won't
get
to
see
many
of
you
until
after
the
holidays,
but
I
hope
you
all
have
a
great
holiday
season.
Hope
you
stay
safe,
get
to
spend
time
with
those
that
you
love
and
I'll.
We'll
see
you
all
next
year.