BBIF Awarded $10,000 by TIAA Bank to Support North Florida’s Small Business Community

JACKSONVILLE, FL – Black Business Community Development Corporation (BBCDC), the charitable affiliate of the Black Business Investment Fund (BBIF), was recently awarded $10,000 of grant funding from TIAA Bank to support BBIF’s North Florida technical assistance program and operations. The grant dollars will support BBIF’s commitment to developing small businesses in Jacksonville and North Florida.

While BBIF became a statewide loan provider in 2009, the organization increased its reach by expanding into the North Florida market with a new regional office. By establishing a local presence, BBIF is better able to support more local businesses. BBIF works with these businesses to provide simplified capital solutions and technical assistance services.

Through access to a team of skilled advisors, BBIF’s clients receive the individualized growth strategies they need to scale their businesses. Since inception, BBIF has provided business owners with 414 training sessions, totaling 538 consulting hours. Through partnerships like TIAA Bank, BBIF can continue to train and support these growing businesses in North Florida.

“We are appreciative of partners like TIAA Bank who join us to uplift small businesses in North Florida through their support. After being in the community for 8 years, I see how essential financial literacy education services are for businesses, and this grant will help us provide the education and training necessary to help these businesses sustain long-term growth.” CALEENA SHIRLEY BBIF, North Florida Regional Director

About BBCDC BBCDC was established in 1993 as a 501(c)(3) organization dedicated to fundraising, education, and networking opportunities that support business growth. BBCDC also focuses on enriching communities through housing initiatives that provide access to affordable living options. As the charitable affiliate of BBIF, BBCDC has evolved to expand its impact, including a name change from BBCFC to BBCDC in March 2020 to reflect its broader mission.

About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A.

Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%. Learn more at www.BBIF.com.