REQUEST FOR PROPOSAL
Credit Risk Rating System and Related Policies & Procedures
Development & Implementation
REDF Impact Investing Fund (RIIF) is soliciting proposals for the development and implementation of a credit risk rating (RR) system and related loan policies and procedures. The information in this RFP will assist you in understanding RIIF’s needs and preparing your proposal. RIIF reserves the right to reject any or all proposals. This solicitation includes the following deadlines:
Questions can be submitted until:
5 pm Pacific Standard Time – Friday, April 9, 2021
Proposal submission deadline:
5 pm Pacific Standard Time – Monday, April 12, 2021
All questions and proposals must be submitted via email to: firstname.lastname@example.org
RFP issue date:
Friday, March 12, 2021
Table of Contents
1. About REDF Impact Investing Fund
RIIF is a 501(c)(3) debt fund that provides loan capital and technical assistance to employment social enterprises (ESEs) and businesses that employ and support people overcoming barriers to employment. RIIF is administered by REDF, a venture philanthropy organization that invests exclusively in the growth and effectiveness of double bottom-line businesses dedicated to helping people who otherwise would be shut out of the workforce, get jobs, keep jobs, and build a better life.
REDF launched its Impact Lending Practice in 2017 to accelerate the growth of the field. In 2019, RIIF was formed to provide financing for employment-focused social enterprises and businesses that employ individuals experiencing barriers such as homelessness, justice system involvement, addiction and mental health issues, youth under 25 disconnected from school or work, and survivors of domestic violence and human trafficking. With a current loan portfolio of $1.95 million and generating hundreds of employment opportunities, RIIF is demonstrating a model for how flexible loan terms combined with technical assistance can attract new sources of capital to social enterprises. RIIF has submitted its application to receive CDFI status.
2. Detailed Specifications – Credit Risk Rating System & Related Policies & Procedures
RIIF is accepting proposals for support developing its risk rating system and related policies and procedures. Below are RIIF’s minimum needs for these services.
Overview of minimum needs
Risk rating system vetting, development & implementation
Related policies & procedures development & implementation
3. Proposal Submission Guidelines and Requirements
Details for Asking Questions:
Guidelines for Submitting a Proposal:
4. Selection Criteria | Desired Qualifications
Potential vendors and proposals will be evaluated on a weighted scale that considers key personnel, technical/systems approach, service level agreement, cost, ability to meet deadlines, staff engagement and communication, and other criteria consistent with RIIF’s mission and purpose. Positive efforts are made to utilize small businesses, minority-owned firms, and women’s business enterprises. RIIF also values relationships with contractors who support nonprofits and utilize the products and/or services of social enterprises.
REDF is committed to a policy of equitable treatment and opportunity in its relations with consultants and potential consultants. REDF encourages and has a preference for proposal submissions from organizations led by and composed of individuals who are representative of the diverse communities REDF serves that have experienced barriers to employment, as outlined in Section 1. Please note that we have alternatives specifically for small firms that are led by and composed of individuals who are representative of the diverse communities REDF serves. If you meet this criterion and are unable to submit a full proposal response, but still want to be considered for this project, please reach out to us at email@example.com.
The following questions related to demographics and identity are optional. If you chose to include these responses, please incorporate them into your proposal:
Do you or your team share similar lived experiences with our target populations (i.e. barriered groups) as outlined in section 1 ?
What percentage of your team self-identifies as a person of color?
What percentages of your team self-identifies as male, female, gender non-conforming, or non-binary?
5. Contract Terms
REDF anticipates awarding a three-month contract for this project. Deliverables will include:
Provisions of this RFP and the contents of the successful responses are considered available for inclusion in final contractual obligations. A vendor will be selected following established procedures at RIIF. Once the vendor is selected, the contract will be handled by REDF’s Grants, Contracts & Compliance Administrator. The services will commence upon full execution of a legally binding agreement between RIIF and the selected vendor. The agreement will outline the terms, scope of work, budget, period and other necessary items.