BBIF Florida Receives Fourth CDFI/CORE Financial Assistance Program Award

Orlando, Florida, September 25th, 2020 – We are excited to announce that BBIF Florida has been awarded $520,000 in grant funds from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). In total, the CDFI Fund awarded 397 Community Development Financial Institutions (CDFIs) $204.1 million in funding. The CDFI Program strengthens CDFIs by investing in their ability to support economic growth and expand access to financial resources for businesses and communities in need.

This is BBIF Florida’s fourth CDFI/CORE Financial Assistance (FA) program award. 'The timing of these resources is critical and a significant win for small businesses in Florida. The economic challenges brought on by COVID-19 have created additional financial strain on many businesses; this award enables BBIF to provide essential capital to those in need,' adds President/CEO Inez Long. The grant funds will be used to support BBIF Florida’s existing business loan programs and expand financial technical assistance training.

To view the FY 2020 CDFI Program award book, click here.

BBIF Florida is an equal opportunity provider.

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.