Ray Gilley brings decades of leadership and a commitment to economic development.
ORLANDO, FL – December 20, 2024 – The Black Business Investment Fund (BBIF) is proud to announce the appointment of Ray Gilley as its new Chief Executive Officer. After an extensive search process, Ray was selected for his outstanding leadership, broad expertise, and unwavering dedication to economic and community development.
Ray brings decades of experience in business retention, growth, and attraction, as well as the development and implementation of financial tools such as Tax Incentives, Industrial Revenue Bonds, CDFI funds, Tax Allocation Districts, and New Market Tax Credits. Throughout his career, he has successfully collaborated with cross-functional teams and stakeholders to deliver impactful programs and sustainable results across regional, state, county, and community levels.
In addition to his professional accomplishments, Ray has held numerous appointed and volunteer roles across education, economic and workforce development, healthcare, business, and community development. His broad perspective and extensive network of relationships uniquely position him to lead BBIF into its next chapter of growth and impact.
“I am excited to join BBIF and build on its incredible legacy of advancing opportunities for underserved and underbanked businesses and communities,” said Ray Gilley, BBIF CEO. “This is an important time for the organization, and I am confident that, together with the talented team and our valued partners, we will continue to innovate, deliver meaningful results, and make a lasting difference.”
BBIF Board Chair, Jacqueline Barr, shared her enthusiasm about the appointment. “Ray’s wealth of experience, strategic vision, and proven ability to drive impactful results make him an ideal leader for BBIF. The board is confident in Ray’s ability to guide the organization forward, deepen our partnerships, and expand our reach in underserved communities. We are excited for this next chapter under his leadership and look forward to the continued growth and success of BBIF.”
In the coming weeks and months, BBIF looks forward to introducing Ray to its partners, stakeholders, and community supporters. These engagements will provide opportunities to share his vision for BBIF and deepen connections with those who play a critical role in advancing the organization’s mission.
BBIF remains committed to empowering businesses, fostering equitable growth, and creating sustainable economic opportunities in underserved communities.
About BBIF:
Created in 1987, BBIF develops and promotes underserved business enterprises through education, training, loans, investments, and other activities and aggressively promote an atmosphere conducive to their development. A mission-driven lender, BBIF helps communities and businesses thrive by providing loan capital and specialized financial technical assistance services. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury, Community Advantage and Micro Loan lender as certified by U.S. Small Business Administration, Money Smart for Small Business collaborator certified by the Federal Deposit Insurance Corporation (FDIC) and is AERIS rated triple star, A. Since its inception, BBIF has provided over 1,150 loans totaling $89.7 million and leveraged $625 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 14,700 jobs all while maintaining a loan loss rate of 2.79%. Learn more at www.BBIF.com.
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Media contacts:
Jasmine Gebon, VP Strategic Initiatives
Rhema Nnadi, Marketing Director
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