CLICK HERE FOR  CDFI SUCCESSION VIDEOS

An ACC publication on CDFI succession planning contains insights from former CDFI CEOs who have recently retired or who have transitioned to other positions. Hear insights about their achievements and  the important work on which the CDFI industry continues to focus.

At the Carolina Small Business Development Fund (CSBDF) Lenwood served many roles with CSBDF and its predecessor organizations dating back to 1989, including being one of the co-founders when the North Carolina Minority Support Center provided services to the minority credit unions in the state. He served as chair of the board, board member and as staff of the organization. As state funding for this program waned, under his leadership, the organization rebranded as The Support Center and as the Carolina Small Business Development Fund transformed to be a loan fund serving minority entrepreneurs, gaining access to SBA programs, and creating the first Western North Carolina Women’s Business Center. At the time of his departure in 2018, CSBDF had grown to $40 million in assets. Lenwood’s successor was Kevin Dick, formerly an Economic Development official with the City Government in Charlotte, North Carolina. After leaving CSBDF, Lenwood was appointed President and CEO of the African American Alliance of CDFI CEOs, an organization he co-founded in 2018. He continues to provide consulting and coaching to CDFI leaders. He is most proud “that he kept [CSBDF] alive and help fulfill the dreams of many people.”
Ron founded CEI in 1977 and served as CEO until June 2016, just shy of 40 years. The accomplishments include developing a model of community economic development in a rural state; engaging in policy advocacy to expand resources to the field; advocating for consumer financial protections; linking job creation with employment training; and including social services such as child care as essential to holistic community development. Ron was succeeded by Betsy Biemann, a former CEI Board member, as the new CEO and Keith Bisson, a long-time CEI leader as the new President. Since leaving, Ron has been involved with community efforts in his hometown of Waldoboro, Maine, including a historical mural in a low-income community celebrating the town’s role in the Underground Railroad. He is most proud of “building an institution in Maine to carry on with the challenges of race, caste, class, and economic opportunity.”
Gary was recruited to the CEO role at PeopleFund in 2010 from AccionTexas (now LiftFund). He completed his transition out of the CEO role in late 2019. Over Gary’s tenure, PeopleFund expanded from one location to nine across the state of Texas; obtained SBA Community Advantage, 504, and Microloan authorization; was awarded over $100 million in New Markets Tax Credits; experienced a five-fold increase in lending; oversaw three successful mergers/acquisitions; and created a twelve CDFI collaborative that provided low interest loans to veteran business owners. Gary’s intent upon leaving PeopleFund was to retire but he was subsequently recruited to a Managing Director role with Baker Tilly. He continues to support veteran businesses, serves on 5 non-profit boards, and spends time on a family ranch southwest of Austin.
Deborah founded CommunityWorks in 2005 as Greenville Housing Fund and oversaw its expansion across upstate South Carolina and into microlending and consumer finance before she left in 2020. Months after her departure, CommunityWorks received a grant from MacKenzie Scott, which was a strong affirmation of the impact of the organization’s work in the community. Having built a strong organization, board, and embedded strategic planning into the DNA of the organization, Deborah felt she could step away and accepted a leadership position with long-time local partner, United Way of Greenville. Starting that role at the beginning of the pandemic has been all consuming and very impactful, delivering direct relief to over 3500 families. In looking back at her tenure at CommunityWorks, she is most proud of “the impact we’ve had on people’s lives.”
Mark founded Bridgeway Capital in 1990 and served as CEO until he retired in November 2019, a 29-year tenure. During this time, Bridgeway grew to over $100 million in assets; established offices in Pittsburgh, Erie, and Uniontown; achieved $20 million per annum in lending volume; expanded financial products into small business, real estate, and nonprofits. Upon retiring from Bridgeway, Mark serves as a Board member of Neighborhood Allies, the leading community development organization in Pittsburgh. He serves as a volunteer consultant helping to grow the Hill District Federal Credit Union, a Pittsburgh CDFI serving a local African American community.
Nancy was CEO of the Low Income Investment Fund (LIIF) for 20 years from 1997-2017, succeeding the founder, Dan Liebson. Over her tenure, the organization grew from $35 million in Assets Under Management (AUM) to nearly $1 billion; expanded from 3 locations to now serving 31 states; and most importantly, LIIF transformed from a loan producer to an organization with a guiding mission of poverty alleviation as its platform, addressing housing, early childhood care and education, health, and workforce needs. Since leaving, she has pursued sports that she had not had time for and has nurtured an interest in international affairs.

The ACC CDFI Succession Planning Series contains insights from former CDFI CEOs who have recently retired or who have transitioned to other positions. Eric Weaver founded Opportunity Fund upon graduating from Stanford Business School in 1992 as part of an initiative between the Silicon Valley Foundation and Silicon Valley Bank. Mr. Weaver stepped down from the CEO role in 2017 and continues to serve as a voting member of the Board and as a Senior Advisor to the organization.

Note: Opportunity Fund is now Accion Opportunity Fund.

Through the Western North Carolina Small Business Initiative (WNCSBI), Appalachian Community Capital and our partners are helping local entrepreneurs access the funding, guidance, and support needed to grow and thrive.

Watch how collaboration and investment are fueling small business resilience across the region.

OA provides support for projects at the pre-development stage – connecting them to experts in financial structuring, tax credits, market assessment, pro forma development, and preparation of project prospectuses.

Learn how Kentucky Highlands finances justice and change from American Health Management owner Kelly Upchurch in Southeastern Kentucky in partnership with Appalachian Community Capital.


“Bankless in America” – Financial Times, December 12, 2022

...

An  ACC publication on CDFI succession planning contains insights from former CDFI CEOs who have recently retired or who have transitioned to other positions. Hear insights about their achievements and  the important work on which the CDFI industry continues to focus.