Self-Help Shares

Self-Help's Director of Sustainability, Melissa Malkin-Weber, reports on the Just Energy Summit, held last week. The conference focused on how racial inequities play out in the energy sector, imposing disproportionate costs and greater health risks on Black communities and other communities of color. Organized by Partnership for Southern Equity, the Just Energy Summit brought together activists, scientific, and policy experts to educate and share ideas for change. The event shone a light on how the threads of pollution, poverty and racism are inextricably intertwined.

Self-Help has a long history of mission-focused loans and products that help empower women financially. When the COVID pandemic struck, we hit the ground running with relief loans through the Paycheck Protection Program--and we knew that we wanted a strong focus on women-led companies and nonprofits. When the last round of PPP lending wrapped up in August, we had achieved that goal. Nearly half of our PPP loans (47%) went to nonprofits or companies headed by women. In this post, we highlight a few examples.

Recently Self-Help has partnered with other Community Development Financial Institutions (CDFIs) to find ways to make racial equity an integral part of our charter school lending process. In this post, Self-Help's Charter School Sector Leader, Brittany Bennett, describes how this effort has resulted in the development of an equity assessment tool that is already helping CDFIs incorporate equity into their loan decisions. 

Congratulations to 27 students who were named as Self-Help Scholars this year! Please take a moment to check out some of our leaders of the future.

Self-Help has teamed up with other local organizations in Asheville, North Carolina to offer supportive and practical financial education for people making the transition to employment. With a team of wonderful partners, we have organized a program called “Successful Transitions: Scaling the Benefits Cliff.”

Self-Help's lending offices aren't open now, but that doesn't mean we aren't lending. Recently we talked to Self-Help’s Director of Mortgage Originations, Shondra Tanner, who answered questions about current lending processes, underwriting guidelines, and her personal passion for helping future homeowners.

There are lots of reasons to produce an annual report. One is to document our work and express gratitude to all the members and partners who made it possible. This report also helps us remember that all of today’s work would not have been possible without all that has come before. With your help, Self-Help remains in a strong position to pursue our mission today.

Happy Juneteenth! It was an eventful week, with two strong Supreme Court decisions and a U.S. House committee hearing on PPP relief. We cover some of the highlights here.

As a long-time SBA lender, Self-Help began taking PPP applications on April 6. As of May 17, 2020, we had received SBA approval for $161 million in loans to serve 1,184 applicants. Sixty-eight percent of the loan dollars went to nonprofits. Altogether, we helped applicants continue employing 17,000 people.

The coronavirus isn’t the only thing that has been spreading in recent weeks. The Federal Trade Commission and state attorneys general all over the country have reported an uptick in deceptive scams, many of them tied directly to COVID-19. These scams can be alarming and very costly, often draining victims of hundreds or thousands of dollars.