Release Date: April 18, 2025
Proposal Due Date: None
Selection Date: Open until filled
Contract Period: Q3 2025 – December 31, 2026, with opportunity for extensions
I. Overview of Request for Proposals
Appalachian Community Capital (ACC) is seeking a skilled Underwriter (contractor) to conduct financial underwriting on member institutions which request financing, all of which are Community Development Financial Institutions (CDFIs). The contractor will report to the President and CEO of ACC.
The complete Scope of Services is provided in Attachment A, and includes:
- Conduct detailed financial analysis and underwriting on CDFIs seeking financing from ACC, focusing on their financial statements, operational performance, and compliance with financial regulations.
- Prepare and present underwriting reports to ACC’s CEO and loan committee members.
- Conduct an annual Portfolio Review and quarterly Portfolio Risk Assessments.
- Develop risk mitigation strategies.
- Remain current with financial regulatory changes that impact CDFI operations and underwriting criteria.
- Undertake quarterly trainings for ACC member CDFIs related to loan underwriting.
Contractors interested in providing these services should submit proposals to Kelli Bryant [email protected]. Proposals will be reviewed upon receipt.
II. About Appalachian Community Capital
Founded in 2013, ACC is a Community Development Financial Institution (CDFI) serving member CDFIs across the 13-state footprint of Appalachia with a mission to increase small business lending across this underserved and primarily rural region. By providing capital, capacity building, and innovative programming to its members, ACC catalyzes entrepreneurship, opportunity, and growth in distressed communities. ACC has 43 members who manage over $4 billion in total assets. Investors and supporters of ACC include: the Appalachian Regional Commission, US Treasury CDFI Fund, the Ford Foundation, Goldman Sachs, Bank of America, Truist, US Bank, Wells Fargo, Benedum Foundation, Dogwood Foundation, Mastercard Foundation, and many others. Visit Appalachian Community Capital for more information.
III. About the Appalachian Region
The Appalachian Region, as defined in ARC’s authorizing legislation, is a 205,000 square-mile region that follows the spine of the Appalachian Mountains from southern New York to northern Mississippi. It includes all of West Virginia and parts of 12 other states: Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia. Forty-two percent of the Region’s population is rural, compared with 20 percent of the national population.
The Appalachian Region’s economy, which was once highly dependent on extractive industries, has become more diversified in recent times and now includes larger shares of manufacturing and professional services, among other industries. Appalachia has made significant progress over the past five decades: its poverty rate, which was 31 percent in 1960, had fallen to 16.3 percent over the 2013– 2017 period. The number of high poverty counties in the Region (those with poverty rates more than 1.5 times the U.S. average) declined from 295 in 1960 to 98 over the 2013–2017 period.
These gains have transformed the Region from one of widespread poverty to one of economic contrasts: some communities have successfully diversified their economies, while others still require basic infrastructure such as roads, clinics, and water and wastewater systems. The contrasts are not surprising considering the Region’s size and diversity—the Region extends more than 1,000 miles from southern New York to northeastern Mississippi, and it is home to more than 25 million people.
IV. Timeline
It is anticipated that the contractor will be selected and contracted with in Q3 2025, with contract period through December 31, 2026, allowing for extension if mutually agreed upon.
V. Instructions to Submit a Proposal
Contractors seeking to provide services should submit the following:
- Description of relevant activities undertaken with clients, or in prior roles.
- Budget that provides rates and payment schedule, including any indirect costs.
- Biography/resume for all personnel noted in proposal.
- Organizational Background, if relevant.
- References.
Please provide a cover letter and the above information in one pdf to Kelli Bryant [email protected]. Review of submissions will begin upon receipt.
VI. Proposal Evaluation
ACC will select contractors through a competitive process based on qualifications, expertise, track record, and cost. See Attachment A for requested Qualifications.
ACC is an equal opportunity employer / contractor. We are committed to creating a collaborative and thriving work environment for all contractors and employees. It is ACC’s commitment to treat all its employees and contractors with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, ages, sexual orientation, gender identity, pregnancy, or other nonmerit factors. ACC strives to build a team that is representative of the communities we serve.
Attachment A
Job Title: Underwriter (Contractor)
Reports To: President and CEO
Position Summary: Appalachian Community Capital (ACC) is seeking a skilled Underwriter to conduct financial underwriting on our 43-member institutions, all of which are Community Development Financial Institutions (CDFIs). The Underwriter will focus on assessing the financial health and risk associated with these institutions, ensuring they align with ACC’s financial standards and regulatory requirements.
Key Responsibilities:
- Conduct detailed financial analysis and underwriting on CDFIs seeking financing from ACC, focusing on their financial statements, operational performance, and compliance with financial regulations. It is anticipated that 12 CDFIs will require underwriting annually.
- Assess the creditworthiness and financial stability of CDFIs applying for funding, employing a thorough understanding of nonprofit accounting and financial services industry standards.
- Prepare and present underwriting reports to ACC’s CEO and loan committee members, highlighting potential risks and recommendations.
- Conduct an annual Portfolio Review and quarterly Portfolio Risk Assessments.
- Develop risk mitigation strategies.
- Remain current with financial regulatory changes that impact CDFI operations and underwriting criteria.
- Work closely with the finance and compliance teams to ensure all underwriting activities adhere to internal policies and external regulations.
- Undertake quarterly trainings for member CDFIs related to loan underwriting.
Qualifications:
- Proven experience in financial underwriting, specifically with CDFIs or similar financial service providers. Five or more years of experience preferred.
- Strong proficiency in nonprofit accounting and financial analysis.
- Excellent analytical, decision-making, and problem-solving skills.5
- Ability to communicate complex financial information clearly to non-financial stakeholders.
- Bachelor’s degree in Finance, Accounting, or related field; a Master’s degree or relevant certifications (e.g., CFA, CPA) is a plus.
- Experience living in or working with rural and underserved communities a plus.
What We Offer:
- A pivotal role in supporting the financial stability and development of CDFIs.
- Opportunities for professional growth and development within the financial services sector.