CDFI Friendly Bloomington welcomes Jane Kupersmith as Executive Director

CDFI Friendly Bloomington (CFB), a financial services nonprofit supporting the Uplands region, has named a new Executive Director. Jane Kupersmith, a local business owner, formerly Assistant Director for Small Business Development for the City of Bloomington, will begin the role on February 27, 2023. Brian Payne, the organization’s inaugural Executive Director from 2019 to 2023, will enter a new position with the Department of Health and Human Services.

CDFI Friendly Bloomington was established as a public-private partnership in 2019 to attract funding from the $250 billion Community Development Financial Institution industry to the local marketplace. Community development financial institutions, or CDFIs, are specialized organizations that provide financial services in low-income communities and to people or organizations who lack access to financing. CDFI Friendly Bloomington provides technical assistance for organizations that seek nontraditional financing opportunities and works to connect potential borrowers with CDFI funders. To date, it has helped facilitate public art installations, affordable housing, and cohousing, a small business, a pandemic-relief loan fund, as well as a grant and loan program to help individuals and organizations install green infrastructure. In all, it has attracted $23 million in capital investment to the region.

Chair of the Board Tina Peterson states, “As a relatively young organization, CFB has produced significant impact thanks to Brian’s flexible, steadfast leadership and his ability to help organizations problem solve.” “Although the pandemic posed some unforeseen challenges, Brian leaves the organization well-positioned for its next stage of growth,” Peterson added. “Jane’s experience, creativity, determination, and enthusiasm will allow CFB to further catalyze opportunity in our region through creative capital strategies.”

Kupersmith co-founded Hopscotch Coffee in 2014 and was co-owner of Rainbow Bakery from 2017 to 2023. She served as Assistant Director for Small Business Development for the City of Bloomington from 2020 to 2022, during which time she supported a variety of pandemic recovery programs. In her new role, she will be responsible for attracting investments from community development financial institutions in affordable and workforce housing, small business growth, green infrastructure, other community facilities, and more in Bloomington, Monroe County, and southwest central Indiana.

CDFI Friendly Bloomington was founded in 2019 with the support of the Community Foundation of Bloomington and Monroe County, the Bloomington Urban Enterprise Association, the Bloomington Redevelopment Commission, German American Bank, Old National Bank, and First Financial Bank. Visit https://cdfifriendlybtown.org/ to submit projects or find additional information. Jane can be reached at [email protected] or 812-320-9003.