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Dr. Juan Carlos Amesty is a Hispanic American and founder and president of Central Christian University (CCU). Dr. Amesty formed CCU in 2005 and has held a lifelong mission to provide professional services to the community. As a local Christian University located in the Pine Hills community, CCU has a commitment to improve the Orlando community through education & social services. Through their recent acquisition of their facility, CCU has an opportunity to continue to expand on their foundations, making long-term impact in their community. “ BBIF’s partnership with Fifth Third has enabled us to invest in companies like CCU that offer essential services such as education to communities in need . – Inez Long, President/CEO, BBIF The NMTC financing of $1.3 million dollars came from an allocation given to BBIF by Fifth Third Bank in 2018. In addition to this below market rate loan, BBIF provided a business loan of approximately $100,000 to help the company with improvements related to hurricane resiliency. “ We believe in the potential of this community. Our goal is to provide valuable education and support services that strengthen families and promote long-term growth. ” Carolina Amesty, Special Advisor to The President, Central Christian University 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 .

FermiTron, Inc. (FermiTron), is a full-service electronics products design corporation. The company, established in 2012, is owned and operated by veteran entrepreneur Guilford Cantave.  The corporation provides support to companies ranging from promising entrepreneurs to Fortune 500 firms. FermiTron has a reputation for excellence and is proficient at transforming customers’ innovative concepts into high quality products. Despite FermiTron being a well-known player in its industry, Guilford could not secure the capital he needed to grow his business. Like many entrepreneurs, Guilford was forced to turn to the only entity that would give him a loan: a predatory lender.   The predatory loan resulted in a substantial loss of available capital each month. This capital was vital for reinvestment back into his business. Unfortunately, the high loan interest rate absorbed the capital required for growth. As business continued, FermiTron’s cash flow shortages grew. Despite many challenges, Guilford knew he would need the right support to move forward and grow his business.  The first step to improving his financial position would be finding a fair and responsible small business loan.  That’s when he turned to BBIF Florida (BBIF). BBIF is Florida’s leading non-traditional small business lender. BBIF is a non-profit, community development financial institution (CDFI), which specializes in growing small, local businesses through access to capital and management coaching.  When Guilford started at the BBIF Management Consulting CEO Roundtable (CEO Roundtable) in June of 2018, BBIF’s team of expert business consultants held his hand through the process of financial stabilization & growth. The CEO Roundtable provided Guilford with financial training, mentorship and accountability. Despite the impact of the predatory loan, he was able to improve FermiTron’s cash flow, increase its customer base, and increase sales by over 40% in just a few short months. With the help of BBIF Florida, FermiTron became eligible for a small business loan. Guilford was able to refinance his predatory loans, which improved his available capital by reducing his monthly loan expense by 86%.This new available capital will help him create several full-time jobs, buy much needed equipment, and pursue higher value contract opportunities. His story demonstrates that entrepreneurs thrive when provided the capital and management coaching they need to succeed. 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 .

For Kreative Kids Learning Center (Kreative Kidz), an early learning center owned and operated by Simeon Multon, 2020 was meant to be their year. Having experienced significant growth in the years leading up to 2020, Simeon had plans for major expansion this year. “The year 2020 was going to be the best year for Kreative Kidz. We were in the planning process of opening our 8th room, expanding the business services and expanding our hours of operation,” Simeon remarked about the center’s plans for growth. The economic impact of the Coronovarius (COVID-19) pandemic and resulting statewide shutdown changed everything. Simeon, a local business owner, like many small businesses nationwide, was adversely impacted by the economic shutdown. He feared the worst for his business and his employees, not knowing where to turn for help in the midst of all the uncertainty.  With parents out of work, and children remaining at home, the business’ revenues dried up overnight. It was nearly impossible for Simeon to continue to pay, and therefore retain, his employees. That’s when he turned to BBIF, a non-profit Community Development Financial Institution (CDFI), and SBA approved lending affiliate for the Paycheck Protection Program (PPP) and applied for a PPP loan.  The approval of their PPP loan has given Simeon and his team at Kreative Kidz hope. This loan gives him the opportunity to take care of his teachers and ensure their livelihood in these uncertain times.  “I really appreciate BBIF & the SBA. Thanks to their hard work, I don’t have to worry about losing my business. The PPP loan allows me to take care of my staff,  acts as a bridge to carry us through the uncertain times, and gives us a clearer shot towards rebuilding and continuing on toward our goals.” Simeon Moulton, Owner & Operator 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 .

Sterling Silver Scape and Sod is a Certified Minority Business Enterprise (MBE). For over 30 years they have provided  landscape and irrigation projects for local governments, as well as major theme parks, area schools, hospitals, shopping centers, commercial developments, airports, residential developments and private parks ranging from $30,000 to over $2,500,000 throughout Florida. They believe in creating opportunity for others through excellence, and their goal is to provide prestigious and award winning landscapes nationwide.  In the wake of the COVID-19 pandemic, the flow of money came to a standstill, and Sterling Silver Scape and Sod was struggling to collect payment from past work that had already been done, as well as secure new contracts. As a result, they couldn’t continue to pay their employees. They needed immediate assistance to keep their business from going under. That’s when Sterling Silver Scape and Sod reached out to BBIF. BBIF is a Community Development Financial Institution (CDFI) that specializes in providing loan capital and financial management consulting to small businesses. BBIF is an equal opportunity provider and an SBA-approved lending affiliate for the Paycheck Protection Program (PPP). “Thanks to BBIF’s fast response, client focused approach, and in-depth consultation, we were able to be approved for a much needed PPP loan. Now, we’re able to make payroll for all 33 of our existing employees, as well as sustain our business as we navigate the economic unknowns that we face due to the COVID-19 Pandemic”.  – Sterling Blake, Owner The PPP loan, paired with BBIF's financial management consulting has empowered Sterling Silver Scape and Sod to maintain operations while creating new strategies for resilience in the months to come. 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 .

BBIF Client Spotlight: Kingdom Communications Kingdom Communications LLC is a small company that specializes in low voltage data communications and video surveillance installation with a client base that spans across various industries and includes companies such as the NBA, City of Orlando and the Amway Center. CEO Phylisa Dever has incorporated her strong work ethic to “do business with integrity and good character.” For over 15 years, Kingdom Communications LLC has taken pride in its commitment to develop cost-effective networks for each and every business it serves.Before the coronavirus pandemic, business was good. Dever had two major companies that kept her team busy with work that required travel across the United States. But with the spread of COVID-19, Kingdom Communications LLC saw its nationwide travel come to a halt as shelter-in-place restrictions became widespread across the nation. Being considered an essential business couldn’t protect Kingdom Communications LLC from the financial pitfalls of the pandemic. Limited demand forced Dever to reduce office staff hours as she carefully monitored the gradual depletion of cash reserves.  The COVID-19 Shut Down Puts Additional Pressure on Kingdom Communications The pandemic revealed significant economic challenges for many small business owners. Limited access to capital—whether from investments or bank loans—has been a major factor in the lack of cash reserves among this group. According to Federal Reserve data, small business owners have historically faced higher rates of loan denials from national lenders. A recent study by the University of California at Santa Cruz found that the number of small businesses dropped sharply—from 1.1 million in February 2020 to 640,000 in April. This represents a 41% decline among certain business groups, compared to a 17% decline among others. Desperate to meet payroll for her employees, Dever reached out to her bank to apply for the Paycheck Protection Program (PPP), a loan created under the CARES Act and administered by the Small Business Administration. Unfortunately, the relationship Dever cultivated through the years with her bank was not enough for her to be considered and her request for the emergency funds was never addressed. CEO of Kingdom Communications Turns to BBIF Florida to Process PPP Loan Dever, a longtime client of BBIF Florida, turned to the Community Development Financial Institution (CDFI), which specializes in helping small businesses access the capital they need to grow and reach their full economic potential. As of May 31, 2020, BBIF Florida had provided $5.4 Million in PPP loans to underserved businesses. BBIF Florida was there to guide Dever through the PPP loan application process. After successfully receiving a PPP loan, she was able to meet her payroll requirements and save five staff positions. “BBIF and the PPP loan have positively impacted my business because I was able to keep my payroll running and I didn’t have to lay anyone off. BBIF Florida really cares and tries very hard to make sure that their clients learn the skills they need to take them to the next level.” -Phylisa Dever, CEO of Kingdom Communications, LLC 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 .

Patrick Eloi built his Information and Technology business with one mission: to provide quality IT support to clients “24/7, 365 days a year.” His Fort Lauderdale-based company, Complete Care IT, has been providing worry-free IT to small and medium-sized businesses for 25 years. And while Eloi’s goal is to prevent downtime and increase productivity for his clientele, he saw his own productivity decline due to the spread of COVID-19.  With sluggish business sales and low cash reserves, Eloi was faced with the daunting task of cutting costs by any means necessary. This meant cutting staff— an unthinkable decision for Eloi since he considers each team member as family. It’s a scenario that many business owners have faced during the COVID-19 pandemic. For entrepreneurs like Eloi, the economic impact has created serious financial challenges. National lenders are often hesitant to lend due to perceived credit risks. Factors such as limited access to capital, minimal cash reserves, and smaller staff sizes contribute to these businesses being labeled as 'at risk' or 'distressed,' which can prevent them from accessing critical financial resources. With the rolling out of the Paycheck Protection Program (PPP), small businesses flocked to apply for federal coronavirus relief through the Small Business Administration loan program. However, many small business owners walked away empty handed because they either didn’t qualify or the funds ran out as large companies snagged millions of dollars through loopholes in the PPP. Luckily, BBIF, a Florida-based Community Development Financial Institution (CDFI), was able to provide a solution for Eloi and many small business owners facing similar challenges. BBIF’s mission is to support business growth through education, training, loans, investments, and other services that help entrepreneurs succeed and strengthen local economies. BBIF walked Eloi through the loan application process and helped to secure Complete Care IT with a PPP loan.  The PPP loan helped Eloi meet the payroll for four full-time positions at Complete Care IT, allowing him to keep his tight-knit team intact. “Family is of fundamental importance, and the PPP loan allowed us to keep our Complete Care IT family together. Thanks to the BBIF organization, we received much-needed help during our most difficult time.” – Patrick Eloi, CEO of Complete Care IT 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 .

At The Lemon Lily Tea Room & Bakery, small business owner, Elizabeth M Franks, prides herself on creating beautiful memories and restorative experiences for her guests. After owning her Oviedo-based tea room for six years, Franks learned that taking time for tea allows guests to share quality moments with the people they cherish most.  This motto resonates with her customers as well. In fact, The Lemon Lily Tea Room & Bakery book parties of 20 or more guests every weekend. Friends and family gather to enjoy afternoon tea while expecting brides host a quintessential tea party for their bridal shower or luncheon. When COVID-19 restricted social gatherings, Franks and her staff faced three problems: depletion of cash reserves, supply chain disruption, and even business closure. “We could not serve the volume we needed to break even and we had to cut back on our staff,” explains Franks. However, despite the problems Franks faced, her team continued to help their community. “We really value our community. During the government shutdown, we offered free food to federal employees and their families,” she went on to say.  Small businesses and their families have suffered the most financially through the coronavirus pandemic. While U.S. unemployment levels fell, it rose for workers who fill positions in the hardest-hit industries from food and service to child care, warehousing, and public transit. According to economists, unemployment rates have historically varied across different groups, with some workers experiencing greater challenges during economic downturns and recessions. Many small business owners also faced difficulties accessing federal aid. When the federal Paycheck Protection Program (PPP) rolled out in early spring, only a small percentage of applicants received funding, according to a study conducted by advocacy organizations. Nearly half of the 500 business owners surveyed anticipated having to close their businesses permanently. Franks was thrilled to hear about the PPP loan under the CARES Act. The loan, administered by the Small Business Administration (SBA), would allow Franks to pay her employees who lost their jobs due to COVID-19. When the SBA directed her to BBIF Florida, a Community Development Financial Institution (CDFI) dedicated to supporting small businesses through education, training, loans, investments, and other resources, she knew she was in good hands. Since a major part of BBIF’s mission is to aggressively promote an atmosphere conducive to the development of small businesses. Franks knew BBIF would be genuinely attentive and concerned about her staying in business. The BBIF team attended to all of Franks’ questions and helped her secure a PPP loan. She was able to keep her employees on payroll for the months to come.   “I appreciate BBIF’s ardent efforts to work hard and secure loans for businesses like mine. BBIF has been a huge help to my team and I, we appreciate it.” – Elizabeth M Franks, CEO of The Lemon Lily Tea Room & Bakery

Orlando, Florida, Sept. 14, 2020 – BBIF announced today that it received a $1.5 million grant from Truist Financial Corporation to create a COVID-19 small business grant program for existing BBIF clients. BBIF created this new program to address the needs it found among its small and micro business owners affected by the COVID-19 pandemic. These needs range from limited access to inventory and PPE supplies, depletion of cash reserves, and reduction in hours of operation. This new grant program will give its micro and small business owners the flexibility to address their immediate needs without worrying about repayment. The grant is part of the financial services company’s Truist Cares* initiative, a $50 million philanthropic pledge to help rebuild communities affected by the COVID-19 pandemic. “SunTrust, now Truist, has been a committed partner since BBIF’s inception in 1987,” Inez Long President/CEO of BBIF Florida “This grant demonstrates the bank’s continued commitment to invest and support the growth and sustainability of small businesses. It’s the perfect way for BBIF clients to add to their capital stack without over-leveraging their companies. Most small businesses have difficulty accessing a range of capital, and we are proud to work with Truist in providing alternatives to debt. I value and applaud Truist’s leadership, and I look forward to our continued partnership and collaborative work to make equitable investments into the community.” “We’re proud of our long-standing partnership with BBIF Florida,” said Lynette Bell, President of the Truist Foundation. “It’s critical that we support community development financial institutions such as BBIF Florida that are strengthening small and micro businesses during this difficult environment. Meeting the critical needs of small businesses to help them thrive is one way we’re fulfilling our purpose to inspire and build better lives and communities.” 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 . About Truist Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $504 billion as of June 30, 2020. Truist Bank, Member FDIC. Learn more at Truist.com . * Truist Cares is a cooperative effort between Truist Financial Corporation, Truist Foundation, Inc., and Truist Charitable Fund to provide communities, organizations and individuals disaster relief and assistance during the COVID-19 crisis.

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 .

This video highlights the historical policies that restricted access to homeownership for certain communities. Many challenges faced by certain communities today can be traced back to past policies enacted by federal and local governments. This video highlights laws that limited access to financial opportunities and how organizations like BBIF play a vital role in providing resources and support to small businesses and entrepreneurs in need of financial solutions.

BBIF is excited to be a participating lender for the Southern Opportunity and Resilience (SOAR) Fund, a new program designed to provide small businesses and nonprofits across the South with access to affordable capital and essential business support during a critical time. Through the SOAR Fund, BBIF will continue its mission to expand financial opportunities for small local businesses. The SOAR Fund, which will launch after the federal Paycheck Protection Program closes, will offer loans of up to $100,000 to eligible small businesses and nonprofits with fewer than 50 full-time employees. Small business owners and nonprofits who need support can visit the website and pre-register. Access the full press release to learn more . 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 . About the SOAR Fund The Southern Opportunity and Resilience Fund (SOAR) provides access to flexible, affordable capital and free business support services to small businesses and nonprofits through trusted community-based organizations. These organizations have decades of experience supporting historically under-resourced small businesses, including those in low-income and rural communities and owned by women and people of color. SOAR is a collaborative partnership of local and national community finance organizations created to address the needs of historically disenfranchised communities as they navigate and rebuild from the COVID-19 crisis. SOAR includes leaders from across sectors including local community lenders, national and state-based nonprofit organizations, corporations, philanthropic donors, and investors – all who are passionate about an equitable recovery across the region. ###

BBIF Client Spotlight: Randall Transportation, LLC Small businesses account for 99% of all companies in the United States and impact their local communities in various ways. The most common way small businesses benefit a local community is by providing job opportunities and stimulating the economic cycle. Randall Transportation, LLC is a small family-operated transportation company that has been in business since 1942. They have been able to remain successful for seven decades by evolving and recognizing the opportunities that lay at any corner. Randall Transportation, LLC has a humble beginning. Their small business started with owning one vehicle to owning a fleet of over 20. They provide transportation services for Duval County Public, private, and charter schools and different community organizations. Randall Transportation is looking to expand its services to include clients like the Jacksonville Port Authority. At the height of the COVID-19 pandemic in 2020, many businesses faced the uncertainty of whether they will be able to maintain operations. For Randall Transportation they received the notice to cease all operations because schools, which included the bulk of their contracts, were no longer offering face-to-face learning. From March 2020- August 2020, Randall Transportation was not operating its regular routes. This caused their 30 employees to be without work, and business owners Sherman and Angela Randall to rethink their plans to expand. For many small-owned businesses, the Paycheck Protection Program (PPP) was the saving grace needed to remain afloat. Unfortunately, in the initial rollout of PPP loans, many minority businesses could not get funding or had difficulty completing their application due to the surplus of applicants. Randall Transportation, LLC was not immune to this feat. When applying for the PPP Loan through their primary financial institution, their bank informed them that they were no longer accepting applications. Hearing this news devastated owners Sherman and Angela because they felt they would not receive the help they so desperately needed.  Fortunately, Randall Transportation, LLC connected with a BBIF team member in their community, recommended by another BBIF client, and close friend of the Randalls. They recommended the community development financial institution as a viable way to obtain funding and technical support opportunities. Through this connection, Randall Transportation, LLC acquired PPP funding and participated in BBIF’s Resiliency Ecosystem, which includes financial technical assistance training , BBIF Connect – a new Facebook group centered around networking and best practice sharing, the Initiate platform , and one-on-one coaching.  Receiving the PPP loan allowed Randall Transportation, LLC to keep its 30 employees on the payroll. During the summer of 2020, the staff maintained the buses and carried maintenance crews to different schools in the Duval County Public School District to prepare for school reopening in August. Randall Transportation, LLC was also able to show their business’s viability and remain credit eligible for capital, allowing them to purchase more vehicles and continue with their expansion plans.  “BBIF has the best interests of all businesses that they work with in mind, especially small businesses. Thankfully we were able to connect with BBIF and receive PPP funding; we recommend this organization to anyone who wants to see their business progress.”  – Sherman Randall, President