BBIF Board Announces Appointment of Interim Co-CEOs

FOR IMMEDIATE RELEASE

Orlando, FL – July 2, 2024 – BBIF announces the appointment of Oraine Reid and Duane Lewis as interim co-Chief Executive Officers (co-CEOs), effective immediately, in accordance with the board's succession plan. This decision follows the recent passing of our esteemed president and CEO, Inez Long, whose leadership and more than 30 years of dedication to business development will continue to inspire our work. The Board of Directors, led by Chair Jacqueline Barr, made this strategic decision to ensure continuity and organizational stability during this transition.

BBIF has a long history of supporting businesses through innovative financial solutions, strategic partnerships, and a commitment to economic growth. As BBIF continues its mission to create opportunities for entrepreneurs, the appointment of interim co-CEOs represents an important step in maintaining progress and advancing the organization's strategic objectives.

"With the appointment of Oraine Reid and Duane Lewis as our interim Co-CEOs, we are proud to highlight the depth of experience and talent within our organization. Both have played an integral role in our growth and strategic planning, working closely alongside our late CEO. Together, they bring over 30 years of combined industry experience and carry forward the vision and leadership she exemplified. This appointment from within reflects the strength of our leadership team,” said Jacqueline Barr, Chair of the Board. "Their combined expertise in financial management, strategic planning, and business development will be essential in guiding BBIF through this transition. While we deeply mourn the loss of Inez, the organization is well-positioned to continue her legacy of impact."

About Oraine Reid

Oraine Reid, Vice President of Finance at BBIF, has been a dedicated member of the team since 2009. With a Bachelor's and an MBA in accounting, Oraine brings over 18 years of experience in accounting and lending, including more than 15 years in the

CDFI sector. His expertise has been pivotal in overseeing BBIF’s financial operations, ensuring robust internal controls, and offering strategic financial guidance. In his leadership role, Oraine manages the New Market Tax Credit division, where his proficiency in funding and compliance has been key to the division's success.

Oraine's journey with BBIF began as a loan officer during the organization’s statewide expansion, where he helped facilitate over $80 million in loans and provided invaluable business counseling. Prior to BBIF, he gained significant experience with the New York City Department of Finance and Phipps Houses Services, Inc. Beyond his professional accomplishments, Oraine has served on the board of “Unity in Uniform,” supporting young professionals through education and mentorship. His financial expertise and dedication ensure that BBIF remains a trusted resource for investors and business owners alike.

About Duane Lewis

Duane Lewis is the Chief Operating Officer at BBIF, where he leads internal operations and provides strategic leadership to ensure the organization fulfills its

mission of providing flexible, affordable, and responsible financing, management consulting, and technical assistance to businesses. With a distinguished career in financial management, Duane has previously served as Chief Financial Officer for a private contracting company, overseeing all financial operations and developing strategies to minimize financial risk. He brings extensive experience in credit analysis and has worked with a variety of loan products, including structuring B&I and Commercial Real Estate lending transactions, and New Markets Tax Credits Financing.

Duane’s experience in business development is reflected in his service on the boards of the City of Orlando’s Enterprise Business Assistance Program and the City of Kissimmee’s Business Council. Certified by the National Development Council as an Economic Development Professional, Duane holds a Bachelor of Commerce with honors in Business Administration and Economics from the University of Windsor. His strategic vision and operational leadership play a key role in advancing BBIF’s mission.

Moving Forward

Under the leadership of the interim co-CEOs, BBIF will continue to focus on its core initiatives, including:

• Capital Access: Expanding loan and investment opportunities to support business growth.

• Financial Education: Increasing access to financial literacy resources and business training programs.

• Business Support Services: Providing customized guidance and mentorship to help businesses navigate challenges and achieve long-term success.

BBIF remains committed to fostering economic growth and expanding opportunities for business owners across Florida and beyond. The organization will continue to collaborate with partners, stakeholders, and the community to strengthen businesses and drive sustainable growth

For more information about BBIF and its initiatives, please visit our website.

Media Contact:

Rhema Nnadi

Director of Marketing, BBIF

Rnnadi@bbif.com