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BBIF Board Announces Appointment of Interim Co-CEOs

FOR IMMEDIATE RELEASE


Orlando, FL – July 2, 2024 – The Black Business Investment Fund (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 legacy of over 30 years of community advocacy and impact will continue to inspire our work. The Board of Directors, led by Chair Jacqueline Barr, made this strategic decision to ensure continued leadership and organizational stability during this transitional period.


BBIF has a long history of empowering communities through innovative financial solutions, strategic partnerships, and a commitment to economic development. As BBIF continues its mission to foster inclusive growth and support diverse entrepreneurs, the appointment of interim co-CEOs represents a significant step in maintaining momentum and driving forward the organization's strategic objectives.


"With the appointment of Oraine Reid and Duane Lewis our interim Co-CEOs, we are proud to highlight the depth and talent within our organization. Both have been instrumental in our growth and strategic planning, working closely alongside our late CEO. Together, they bring over 30 years of combined industry experience and embody the vision and legacy of our beloved late CEO. The appointment from within is a testament to the strength and continuity of our leadership team,” said Jaqueline Barr, Chair of the Board. "Their combined expertise in financial management, strategic planning, and community engagement will be instrumental in guiding BBIF through this transitional period. We are confident that their leadership will continue to enhance our impact and support the economic vitality of the communities we serve. Despite our sadness over the loss of Inez, the organization is in great hands and ready to continue her legacy of community 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 achievements, Oraine has served on the board of “Unity in Uniform,” supporting minority youth through education and mentorship. His comprehensive knowledge and dedication to financial integrity ensure that BBIF remains a trusted partner for investors and funders 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 Black, minority, and underserved 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 commitment to economic development is reflected in his service on the boards of the City of Orlando’s Minority Enterprise Business Assistance Program and the City of Kissimmee’s Black 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 acumen make him a pivotal figure in driving BBIF’s mission forward.


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

  • Capital Access: Increasing the availability of loans and investments to underserved communities, fostering economic resilience.

  • Financial Literacy and Education: Expanding access to financial literacy resources and educational programs for minority entrepreneurs.

  • Technical Assistance: Providing tailored support and mentorship to help businesses navigate challenges and achieve sustainable growth.


BBIF remains committed to its mission of driving economic development and supporting diverse entrepreneurs across Florida and beyond. The organization will continue to work closely with partners, stakeholders and the community to build a more inclusive and equitable economic landscape.


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


Media Contact:

Rhema Nnadi

Director of Marketing, BBIF



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