Technical Assistance Support

We've been asked whether it is in the best interest of a CDFI to outsource technical assistance. Our answer to that is 'it depends'. We agree that you probably know your clients best and are in the best position to provide technical assistance. However, where Overwrite thrives is in the provision of 'technical assistance support'. Take the brief example below:

Before hiring Overwrite:

CDFI-A receives a loan application from B-LLC; a bakery business operating 10am-4pm weekdays. CDFI-A notices that B-LLC does not keep financial records for their business and often comingle business and personal funds in their bank account. CDFI-A is certain B-LLC can benefit from proper accounting practices. However, there are twenty other loan applications in CDFI-A's pipeline so they recommend that B-LLC take their accounting more seriously and that's where it ends. No follow up, no monitoring, no change.

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After hiring Overwrite:

CDFI-A after noticing the issue contracts Overwrite to help B-LLC set up proper bookkeeping. Overwrite assesses the situation and recommends a bookkeeping software to B-LLC. We don't stop there. We also help onboard them and provide continuous assistance; meeting every month until B-LLC become self-sufficient and properly imbibes the right financial practices in their business. Overwrite also reports back to CDFI-A on the outcome and this report can be used during TA grant applications or as justification to reward B-LLC with an interest concession.