BBIF Recognized by SBA as Leading Micro-Lender in Florida

JACKSONVILLE, FL (April 19, 2023) – BBIF is proud to announce that it has been awarded Top Micro-Lender by the U.S. Small Business Administration’s (SBA) North Florida District Office for Fiscal Year 2022. This recognition reaffirms BBIF’s dedication to empowering entrepreneurs and helping them achieve their goals. 

“We know that access to capital can make all the difference for small businesses,” said Duane Lewis, COO at BBIF. “We are honored to receive this recognition from the SBA and remain committed to providing access to affordable loans and resources to help entrepreneurs in Florida grow and thrive.”

The SBA’s Microloan Program provides small loans of up to $50,000 to help small businesses and nonprofit organizations start or expand. Through the program, BBIF has helped countless entrepreneurs and small business owners achieve their dreams.

BBIF will be recognized at the 2023 Annual Small Business Week & Lender Awards Celebration (hosted by the Small Business Development Center at the University of North Florida) on May 5, 2023.

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 certified  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.

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov