BBIF Awarded in New Markets Tax Credits to Support Community-Serving Projects

FOR IMMEDIATE RELEASE

ORLANDO, FL (December 24, 2025) - We are happy to share that BBIF Capital, Inc. (BBIF) has been selected for a New Markets Tax Credit (NMTC) allocation through the U.S. Department of the Treasury’s Community Development Financial Institutions Fund as part of the CY 2024–2025 allocation round. In this highly competitive cycle, BBIF received $75 million in allocation authority, strengthening its ability to continue financing community-serving projects across Florida.

This allocation enables BBIF to leverage federal tax credits to attract additional private capital, helping close financing gaps for projects that may not otherwise move forward through traditional lending channels. These investments support business growth, job creation, and essential community infrastructure—contributing to long-term economic vitality in Florida and beyond.

Nationally, the CDFI Fund awarded $10 billion in NMTC allocation authority to 142 organizations in the CY 2024–2025 round. Within Florida, only three allocatees based in the state were selected, with a combined total of $245 million in allocation authority, reflecting both the competitiveness of the program and the continued demand for catalytic investment capital in the state.

This latest award builds on BBIF’s long-standing participation in the NMTC Program. Since first receiving an NMTC allocation in 2014, BBIF has secured eight NMTC awards totaling more than $323 million in allocation authority, reflecting a sustained track record of deploying catalytic capital into community-serving projects that support business growth, job creation, and essential community infrastructure.

“The New Markets Tax Credit Program is one of the most effective tools for mobilizing long-term investment in communities,” said Ray Gilley, CEO of BBIF. “This allocation allows us to continue our disciplined approach to deploying capital alongside private partners, building on more than a decade of experience supporting projects that generate durable economic outcomes and lasting community benefit.”

Jasmine Gebon, Chief Strategy Officer of BBIF, added, “As a nontraditional lender, we know firsthand how critical flexible, patient capital is to moving community-serving projects from concept to reality. The NMTC Program allows BBIF to close financing gaps, attract additional investment, and continue stewarding capital responsibly in alignment with long-term community priorities.”

The NMTC Program incentivizes private investment by providing federal tax credits to investors that finance qualified community development projects. BBIF will leverage this allocation to attract additional private capital and help address financing gaps for projects that contribute to long-term economic vitality in Florida and beyond.

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About BBIF

BBIF is a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE) that provides capital, financing solutions, and technical assistance to businesses and community development projects. BBIF works to expand access to capital and support sustainable economic growth by leveraging public and private resources to meet community needs.

About the New Markets Tax Credit Program

The New Markets Tax Credit Program is administered by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. The program incentivizes private investment in low-income communities by providing federal tax credits to investors that finance qualified community development projects.