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Starting a Community Development Corporation

Starting a Community Development Corporation. Brian Fogle Vice President Community Development Great Southern Bank. Focus on the Needs. Have a Framework First. Key Leaders. Banks. “It’s where the money is.” Willie Sutton. Who will service and administer?. Additional Considerations.

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Starting a Community Development Corporation

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  1. Starting a Community Development Corporation Brian Fogle Vice President Community Development Great Southern Bank

  2. Focus on the Needs

  3. Have a Framework First

  4. Key Leaders

  5. Banks “It’s where the money is.” Willie Sutton

  6. Who will service and administer?

  7. Additional Considerations

  8. Restrictive Stock covenants

  9. “For what it’s worth”

  10. “For what it’s worth” • If you build it, they may not come • The challenge of loan-loss reserve • Focus, focus, focus • What to do if you are successful? • Reporting to investors • Flexibility

  11. “For what it’s worth” • Banker comfort zones • Creativity and CDCs • The 3 C’s – “2 out of 3 ain’t bad” • The myth of “for profit” • IT WORKS!

  12. Brian FogleVice PresidentCommunity DevelopmentGreat Southern BankP.O. Box 9009 Springfield, MO 65808(417) 895-4628bgfogl@greatsouthernbank.com

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