Flagstar provides $100k boost to Capital Coaching, other CFSB programs
Investment will help CDFI Friendly South Bend expand support to entrepreneurs in underserved communities
July 25, 2024 | South Bend, Ind.
Flagstar Bank presented CDFI Friendly South Bend with a check for $100,000 Tuesday – a community development investment that will expand the capacity and reach of our Capital Coaching and other programs.
Flagstar Bank and CDFI Friendly South Bend leaders celebrate Flagstar’s investment in South Bend entrepreneurs.
L to R: First Senior Vice President Erin Mansfield, CDFI Friendly South Bend Executive Director Sam Centellas, Branch Leader Karina Gonzalez, and Market Manager Brent Yohey.
CDFI Friendly South Bend’s Capital Coaching program pairs entrepreneurs with an expert mentor. The coaching helps entrepreneurs gain an insider’s knowledge of the financing world to avoid common pitfalls and boost success when seeking capital.
Flagstar Bank and CDFI Friendly South Bend leaders met July 23 to talk partnerships at the bank’s branch at Western and Olive on the west side of South Bend.
Piloted in 2023 with a grant from the Indiana Economic Development Corporation, the Capital Coaching program currently serves Saint Joseph, Elkhart and Marshall Counties in Indiana.
"Flagstar Bank’s investment allows us to reach more underserved communities,” said Executive Director Sam Centellas.
“Flagstar Bank believes what CDFI Friendly believes, and that is that when everyone has increased access to capital we all thrive,” says Flagstar representative Steven Hernandez. “We are investing in CDFI Friendly to ensure financial education and access is exerted to all the community in which we work.”
The grant will enable CDFI Friendly South Bend to not only increase the capacity of the program in Indiana, but also expand its reach into southwest Michigan. “We’re excited to expand our support throughout the region and help more small business owners access capital,” Centellas adds.
Flagstar’s investment will allow CDFI Friendly South Bend to support entrepreneurs in more underserved communities across Indiana and southwest Michigan
CDFI Friendly South Bend connects Community Development Financial Institutions and other lenders to local small businesses and housing developers seeking capital. For more information on our programs, visit www.cdfifriendlysouthbend.org.
