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Orlando, Florida, December 8th, 2021. We are excited to share the news that BBIF was awarded $500,000 from the Community Development Financial Institutions (CDFI) Fund. Financial Assistance Awards from the CDFI Program The CDFI Program supports and strengthens CDFIs that provide financial products and services to communities with limited access to capital. For the FY 2021 CDFI Program round, the CDFI Fund awarded $119.2 million in Base-FA awards to 248 organizations across 40 states, the District of Columbia, and Puerto Rico. Additionally, the CDFI Fund awarded $18.6 million in PPC-FA awards to 125 CDFIs to assist areas facing long-term economic challenges. Learn more about the FA award. This is BBIF’s fifth FA award and will serve as an instrument for continued capacity building and growth for the organization. The funds will be used to capitalize loan pools and provide ongoing technical assistance services to BBIF’s target market of local small businesses. “This injection of capital comes at a pivotal time for many small businesses in Florida,” said Inez Long, BBIF President/CEO. “These funds allow for BBIF to continue providing flexible, patient lending solutions for the small businesses that need it most.” 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 NMTC Spotlight: Super-Pufft Snacks USA, Inc   BBIF supports NMTC projects in areas facing economic challenges, prioritizing job creation, job quality, and job accessibility. These projects are evaluated based on their impact on the local community and alignment with community development priorities. Additionally, projects must demonstrate their ability to enhance the quality of life for current residents. In the rural city of Perry, FL is Super-Pufft Snacks USA, Inc., a manufacturing facility for snack foods and supplies. This US-based facility is a subsidiary of the Canadian snacks corporation, which has been in operation for over 60 years with facilities in 30 different countries. Super-Pufft supplies products for major brands such as ALDI Inc., Wal-Mart, and PepsiCo. The company also manufactures products under its brands and private labels.   Due to the closing of Snyder-Lance, a snack and chip production company, the residents of Perry experienced a devastating loss. The production company closing left 250 people unemployed. This recent spike in unemployment caused a tax burden to be placed on the residents and the community. Many residents began vacating the surrounding area since the community lacked quality employment opportunities.   Super-Pufft aims to provide growth in this rural community. The manufacturing company’s $25 million equipment expansion project will allow the plant to be more efficient and provide a wider variety of products that can be produced. This increase in production is anticipated to provide 500 new full-time jobs over the life of the NMTC compliance period. These jobs directly connect to the Taylor County Economic Development Plan of bringing quality industrial jobs to the county.  Financing for this project was made possible through investments from the federal New Market Tax Credit (NMTC) from BBIF, HSBC as well as Super-Pufft Snacks Corporation.   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 .

Starbucks invests in BBIF to bring access to capital and promote business resiliency to Black-owned businesses in Miami. In January 2021, Starbucks committed $100 million to launch the Starbucks Community Resilience Fund. The fund is designed to support small business growth and community development projects in areas with limited access to capital, helping to strengthen local economies and promote long-term sustainability. The investments will initially focus on 12 U.S. metropolitan areas and their surrounding regions: Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle and Washington D.C. In partnership with community leaders, Community Development Financial Institutions (CDFIs), and other mission-driven financial institutions, the Fund will provide capital to support small businesses and neighborhood projects, including those focused on addressing the effects of climate change. “These commitments are in addition to the actions we’ve already taken on the realization of our vision to create a more welcoming Starbucks,” said Dennis Brockman, Starbucks executive, in a letter to partners. “We all have a role to contribute and it’s with that purpose in mind that we continue to invest in these areas for all partners. Learning comes by doing, and that’s what we are committed to.” As a recipient of the Fund , BBIF continues to strengthen its partnership with Starbucks in a way that will be meaningful for small businesses in Miami. “Through this Starbucks partnership and investment, BBIF is excited to continue to expand our work and support to small businesses in the Miami metropolitan area,” said Inez Long, President and CEO of BBIF. “Their support will help us as we continue to provide affordable, creative, and flexible capital while impacting job growth and promoting business resiliency.” " This is not our first time partnering with Starbucks to drive positive change, " said Jasmine Gebon, VP of Strategic Initiatives, BBIF. " BBIF was a Create Jobs for USA grantee in 2011. Starbucks’ continued support of BBIF’s mission highlights the vital role CDFIs play in expanding access to capital and strengthening small businesses." 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 Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 34,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com .

BBIF provided $12 million in New Market Tax Credit (NMTC) financing for a $35.8 million dollar construction project for The AGAPE Network. Black Business Investment Fund (BBIF) closed $12 million in New Markets Tax Credit financing for the Agape Village Health Center. The New Markets Tax Credit (NMTC) financing will support the construction of Agape Network, Inc’s $35.8 million state-of-the-art health center. Founded in 1983, Agape Network, Inc. has been a leader in providing comprehensive healthcare solutions for residents in Miami-Dade County. They specialize in a holistic healthcare approach that supports individuals through behavioral health services, primary care, and transition assistance for individuals and families. The organization’s Re-Entry Program prepares inmates pre-release, providing services to assist inmates’ rehabilitation as they transition back into the community. Additionally, Agape provides primary care services for uninsured individuals, ensuring access to essential healthcare. Through these initiatives, Agape Network helps reduce the strain on South Florida’s criminal justice and healthcare systems. With this new construction project, the number of outpatients served will double from 1,000 to 2,500, and residential inpatient capacity will expand from 62 to 141 beds. The new facility will also offer primary care and behavioral health services to individuals and families across the county, improving access to quality healthcare “ On behalf of the Agape Board of Directors and our South Florida community, we want to give a special thank you to The Black Business Investment Fund (BBIF). Their NMTC partnership has made possible the expansion of our Agape Village Health Center, a National Model of Integrated Health Care and Social Services ,” said Claudio Perez, President & CEO of the Agape Network. “ This expansion will double Agape’s capacity to fulfill its mission of restoring individuals and families to psychological, social, physical, and spiritual health. Thank you BBIF for restoring communities and helping at-risk populations reach their full God-given potential .” The Project will include a 26,516 square foot community health center, eight cottage units of supportive housing, an early childhood educational center, a commercial-grade teaching kitchen for vocational rehabilitation and on-the-job experience in the foodservice industry.“We are thrilled to support the growth and expansion of the Agape village project. The social, healthcare and spiritual services that Agape provides will create opportunities for the most vulnerable communities of the Miami-Dade area,” said Duane Lewis, COO of BBIF. “The NMTC program allows BBIF to invest in impactful programs like AGAPE, with a proven model of uplifting the communities they serve.” Since 2014, BBIF has financed 25 projects and loan pools with its NMTC Allocations creating an economic impact of 292 million. These projects have been able to aid in creating and retaining 2,920 jobs in Florida’s communities. Project Highlights – $35.8 million total project cost – 39,963 square feet of new construction  – 11,687 patients reached annually  – Support patients living below the federal poverty– incomes less than $14,000 a year – 383 jobs created or retained   Financing for this project was made possible through a $12 million New Market Tax Credit (NMTC) from BBIF and the investment from US Bancorp Community Development Corporation. Florida Community Loan Fund supported the project with additional NMTC allocation. 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: HCP of Central Florida HCP of Central Florida offers homemaker and companion services to the elderly and adults who require specialized care. Business owner Heidi Peters was introduced to companionship work through her experience working at a local public school when a parent commented on how caring and thoughtful she was when dealing with individuals with limited mobilities. She took that parent’s suggestion and looked further into the Adult Day Health Care (ADHC) field.  After two years of offering at-home services, Heidi decided to open a residential facility. Currently, the HCP team only supports adults, but Heidi is in the process of opening an independent living home for children as well.  While expanding HCP’s business services and facilities, Heidi experienced many challenges. Some of the challenges included: employee burnout and business overhead costs outweighing the profit.  In 2014 Heidi began researching institutions that provided MicroLoans and discovered Black Business Investment Fund (BBIF). When she initially began the lending process many emotions washed over her- fear, intimidation, self-doubt- however, the BBIF team was able to wash all of her worries away. The support BBIF provided helped Heidi feel comfortable through the entire process.  Since HCP of Central Florida’s first loan financed through BBIF, Heidi has fully been immersed into the BBIF ecosystem. Her business has received a Paycheck Protection Program Loan, Grant Funding, and a MicroLoan. Despite the critical access to capital, she received through BBIF, the service that Heidi appreciates most is BBIF’s Managerial Consulting. This FREE service offered to clients allowed Heidi to increase her business acumen, maintain her staff, and grow her business.  “BBIF truly understands the needs of small business owners. I am beyond grateful for their team in making me feel comfortable and like a priority throughout my entire loan process. I will continue to recommend this organization because of the great customer service provided.” – Heidi Peters 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 is honored to be one of twelve financial Institutions announcing the creation of the Veteran Loan Fund, with Bank of America as the lead capital investor. The Veteran Loan Fund is designed to address financial and business training challenges that many veterans encounter when starting or growing a small business. This fund includes a network of veteran service organizations offering technical assistance and formal business coaching, along with a group of twelve specialized capital providers. Eligible veterans benefit from free business coaching and loans with interest rates of 10% or less. “The Veteran Loan Fund will allow BBIF to continue providing access to flexible and affordable capital along with business support for veteran entrepreneurs. We look forward to expanding our commitment to veterans who have contributed greatly to our country, helping them pursue their business goals.” Duane Lewis COO of BBIF Studies show that veterans transitioning to civilian life often seek opportunities in entrepreneurship but may face difficulties in securing capital, receiving formal business training, and building a strong network. The Veteran Collaborative, now rebranded as the Veteran Loan Fund, was established in 2017 to bring together best practices for engaging and assisting veteran entrepreneurs. “The flow of capital plays a key role in opening doors for veterans,” said Dan Letendre, CDFI Lending and Investing executive at Bank of America. “By investing in the Veteran Loan Fund, we can help unlock potential among veteran entrepreneurs, driving innovation, creating jobs, and building long-term economic success in communities.” Specialized technical assistance partners include Bunker Labs, Vet Met, Vet to CEO, as well as local partnerships with Veteran Business Outreach Centers, SCORE, and SBDCs. The full list of member CDFIs in this nationwide initiative includes Access to Capital For Entrepreneurs (GA), BBIF (FL), Business Impact Northwest (WA, OR), Colorado Enterprise Fund (CO), Dream Spring (NM), ECDI (OH), Pathway Lending (TN, AL, KY), PeopleFund – managing member (TX), Pursuit – formerly Excelsior Growth Fund (NJ, NY, PA), and Wisconsin WBIC (WI). The Veteran Loan Fund’s first $15 million round is made possible by a $5 million commitment of long-term, below-market-rate lending capital from Bank of America as the lead investor, along with significant backing from other major institutions through loan capital and grants. The fund aims to grow to $100 million within five years, aligning with the estimated annual demand for capital from veteran entrepreneurs who currently do not receive funding. For more information about The Veteran Loan Fund please visit us at: https://www.vet.loan/join-us/ . 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 . Bank of America At Bank of America, our mission is to help improve financial well-being through meaningful connections. We achieve this by promoting responsible growth, supporting key economic initiatives, and contributing to the global economy. These principles are integrated across our eight business lines, helping to build trust, provide responsible products and services, and strengthen local economies. An important part of this work is forming strong partnerships with nonprofit organizations and community-focused initiatives. By bringing together expertise and resources, we help drive positive change. Learn more at   about.bankofamerica.com  and connect with us on Twitter (@BofA_News)

BBIF Awarded $25,000 to Support Financial Literacy in Communities Facing Financial Barriers ORLANDO, FL – FAIRWINDS Foundation, a nonprofit 501(c)(3) organization that serves as the philanthropic arm of FAIRWINDS Credit Union, announced the recipients of its 2022 grants at a breakfast event held at Full Sail Live attended by Orange County Mayor Jerry Demings, community leaders and twelve organizations embodying the Foundation’s core purpose of improving lives through financial well-being. We are grateful to new partners like FAIRWINDS Foundation for recognizing the importance of financial literacy in helping small business owners succeed," said Duane Lewis, COO of BBIF. "At BBIF, we know that financial literacy training and business coaching are just as valuable as the funding we provide. This grant will allow us to continue equipping entrepreneurs with the skills and resources needed to build strong, sustainable businesses. Through its grants, FAIRWINDS Foundation supports Central Florida communities facing financial challenges, including individuals experiencing homelessness, at-risk youth, and small business owners impacted by the global pandemic. In 2021, FAIRWINDS Foundation made a measurable impact, from helping Heart of Florida United Way secure $3.4 million in tax refunds for families in need to supporting Prospera USA’s efforts to help small businesses create or retain 2,400 jobs. “We are proud to support each of these organizations, and we look forward to the impact they will make in helping others achieve financial freedom through education,” said Elisha González, vice president of community relations and government affairs at FAIRWINDS and executive director of FAIRWINDS Foundation. “Through the positive impact of the causes we support, we hope to inspire financial freedom among both FAIRWINDS members and the communities we serve.” 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 FAIRWINDS Foundation FAIRWINDS Foundation, a nonprofit 501(c)(3) organization, is dedicated to helping individuals achieve a path toward financial responsibility, security and freedom and inspiring them to transform the lives of others by living generously. Through education, financial contribution and volunteerism, the Foundation works with and supports organizations that align with its passion of improving lives through financial literacy. For more information, visit www.fairwinds.org/foundation . About FAIRWINDS FAIRWINDS, headed by President and CEO Larry Tobin, is headquartered in Orlando and is consistently ranked as one of the best financial institutions and employers in the region. At FAIRWINDS, we believe that financial freedom is freedom to go further – whether that means putting a child through college, retiring early or starting a new business. We are the financial partner that doesn’t want our members to have debt. FAIRWINDS empowers members to pursue and achieve their personal and business goals by offering products and services that promote healthy spending and saving habits.

BBIF has Partnered with Seacoast Bank to Support Small Businesses ORLANDO, FL. – Seacoast Banking Corporation of Florida (NASDAQ: SBCF) today announced a partnership to support BBIF, a Florida nonprofit Community Development Financial Institution. As part of this partnership, Seacoast will join the BBIF Community Development Committee and the BBIF Small Business Association Credit Underwriting Committee. This partnership reflects Seacoast’s ongoing commitment to the economic health of small businesses. “ We are grateful for our partners at Seacoast Bank and their commitment to supporting small businesses,"  said Duane Lewis, COO, BBIF. "Their dedication to our organization, not just through grant funding but also through volunteerism, reflects the kind of partnership that helps create lasting opportunities for the entrepreneurs we serve." At BBIF, we empower and support small businesses through education, training, loans, and investments, helping them achieve long-term success. Seacoast will also provide BBIF with a $60,000 grant to help fund operational expenses, allowing the organization to continue delivering valuable training and financial support to business owners. “Seacoast is a community bank in every sense of the term, and we’re committed to supporting our neighbors throughout Florida. We are constantly looking for new ways to make a meaningful impact in the communities we serve.” CHARLES SHAFFER President / CEO of Seacoast Bank As a Community Development Financial Institution, BBIF provides capital, business development, and financial technical assistance to small businesses throughout Florida, helping them grow and succeed. Since its establishment by the Florida Legislature in 1985, this well-regarded institution has issued over 1,061 loans totaling more than $81 million to small businesses that have faced challenges in accessing traditional financing. 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 Seacoast Banking Corporation of Florida (NASDAQ: SBCF) Seacoast Banking Corporation of Florida (NASDAQ: SBCF) is one of the largest community banks headquartered in Florida with approximately $9.7 billion in assets and $8.1 billion in deposits as of December 31, 2021. Seacoast provides integrated financial services including commercial and consumer banking, wealth management, and mortgage services to customers at over 50 full-service branches across Florida, and through advanced mobile and online banking solutions. Seacoast National Bank is the wholly-owned subsidiary bank of Seacoast Banking Corporation of Florida. For more information about Seacoast, visit www.SeacoastBanking.com.

JACKSONVILLE, FL – Black Business Community Development Corporation (BBCDC), the charitable affiliate of the Black Business Investment Fund (BBIF), was recently awarded $10,000 of grant funding from TIAA Bank to support BBIF’s North Florida technical assistance program and operations. The grant dollars will support BBIF’s commitment to developing small businesses in Jacksonville and North Florida. While BBIF became a statewide loan provider in 2009, the organization increased its reach by expanding into the North Florida market with a new regional office. By establishing a local presence, BBIF is better able to support more local businesses. BBIF works with these businesses to provide simplified capital solutions and technical assistance services. Through access to a team of skilled advisors, BBIF’s clients receive the individualized growth strategies they need to scale their businesses. Since inception, BBIF has provided business owners with 414 training sessions, totaling 538 consulting hours. Through partnerships like TIAA Bank, BBIF can continue to train and support these growing businesses in North Florida. “We are appreciative of partners like TIAA Bank who join us to uplift small businesses in North Florida through their support. After being in the community for 8 years, I see how essential financial literacy education services are for businesses, and this grant will help us provide the education and training necessary to help these businesses sustain long-term growth.” CALEENA SHIRLEY BBIF, North Florida Regional Director About BBCDC BBCDC was established in 1993 as a 501(c)(3) organization dedicated to fundraising, education, and networking opportunities that support business growth. BBCDC also focuses on enriching communities through housing initiatives that provide access to affordable living options. As the charitable affiliate of BBIF, BBCDC has evolved to expand its impact, including a name change from BBCFC to BBCDC in March 2020 to reflect its broader mission. 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 .

ORLANDO, FL – The Veteran Loan Fund announced that it has raised $15 million in support of veteran-owned businesses, including seed funding from Wells Fargo. The Veteran Loan Fund is a collaborative effort by a national network of Specialized Service Organizations and Community Development Financial Institutions (CDFIs) focused on providing affordable capital and technical assistance to Veteran entrepreneurs with limited access to traditional funding. “We are honored to be a part of the Veteran Loan Fund. Veterans have sacrificed so much for this country,” said Duane Lewis, COO of BBIF. “It brings me joy that BBIF can be there to support them on their entrepreneurial journey, providing them with the access to capital and business training they need to scale and grow their business.” Lack of access to capital, formal business training or a network of peers are often roadblocks for Veterans who aim to attain financial independence through entrepreneurship. The goal of the Veteran Loan Fund is to fill this gap. Veterans receiving loans from this program benefit from free access to a national network of business coaches and loans with low-interest rates. National technical assistance partners include Bunker Labs, Vet Met and Vet to CEO. Local partners include Veteran Business Outreach Centers, SCORE and SBDCs. Black Business Investment Fund (FLA) is thrilled to be one of the capital providers (CDFIs) which include Access to Capital For Entrepreneurs (GA), Black Business Investment Fund (FLA), Business Impact Northwest (WA, OR), Colorado Enterprise Fund (CO), Dream Spring (NM), Economic and Community Development Institute (OH), Pathway Lending (TN, AL, KY), PeopleFund – managing member (TX), Pursuit – formerly Excelsior Growth Fund (NJ, NY, PA), and Wisconsin Women Business Initiative Corporation (WI). Wells Fargo’s support for the Veteran Loan Fund includes a $3.5 million investment and a $1.5 million grant, enabling CDFIs to offer affordable loans to eligible veterans and ensure the fund’s sustainability. Since the launch of the fund, member CDFIs have deployed more than $10.5 million in loans, creating more than 500 jobs and providing 2,200 hours of free technical assistance. The estimated annual demand for capital from Veteran entrepreneurs that do not receive any kind of funding for their businesses is $100 million. The Veteran Loan Fund plans to close this gap within five years. “ Entrepreneurship can be a very satisfying career path as people transition out of the military, but veterans need more access to capital and expertise to operationalize their business plans,” said Jenny Flores, head of small business growth philanthropy at Wells Fargo. “We support the Veteran Loan Fund’s vision for a more inclusive economy and are proud to offer seed funding for this national effort to boost veteran-owned businesses.” For more information, please visit https://www.veteranloanfund.com 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 .

Sweet Home Missionary Baptist Church (MBC) was founded in 1952 in a community located in Miami, Florida. The church focuses on building up the local community through service initiatives, such as food distribution for the local community, affordable after-school care, and job and housing programs. At the height of the COVID-19 pandemic, Sweet Home experienced a significant shift in how it would proceed with its daily operations. Due to safety precautions, the team felt it would be best to switch to a virtual service.  Though Sweet Home was no longer providing public church services, it still had a team working to fulfill its service programs. For example, during the pandemic’s peak, Sweet Home Missionary Baptist Church’s team provided 1,000 meals per week to the local community.  Like many managers Olivia Carey, Executive Pastor at Sweet Home MBC, did not want to lay off any staff members. Pastor Carey’s brother-in-law recommended connecting with BBIF. Once connected to BBIF, Pastor Carey began attending each BBIF COVID-19 Navigation Webinar. She learned that Sweet Home MBC would qualify for a Paycheck Protection Program (PPP) loan through attendance. PPP Loans were issued by the Small Business Administration (SBA) to help small business owners and non-profits have the capital necessary to keep their staff employed.  In the past, Sweet Home MBC applied for loans directly through the SBA. Pastor Carey described the process to be very cumbersome and paper-driven. While working with BBIF, her experience was one of ease. Sweet Home MBC received a PPP Loan in May of 2020. With the funds, they could keep all full-time and part-time employees on the payroll. “Working with BBIF was a fluid process. They walked me through the application process and answered all my questions. There were no hiccups, it was a seamless process. The support we received from the BBIF enabled us to pivot to virtual services for our congregation and continue to provide social services to the community.” Olivia Carey, Pastor 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 will support business owners to improve jobs while strengthening their businesses ORLANDO, FL – BBIF announced its selection for Aspen Institute’s Economic Opportunities partnership in Shared Success: scaling financial intermediary strategies to advance job quality, equity, and small business prosperity . This innovative pilot program, supported by the Bill & Melinda Gates Foundation, will focus on advancing job quality among small- and medium-sized businesses.From stagnant wages to limited access to benefits, low job quality affects millions of workers across the U.S., creating financial challenges for many. Nearly 60% of low-wage workers work at businesses with fewer than 100 employees, including the 35% of low-wage workers at micro-businesses with fewer than 10 employees. Improving job quality for low-wage workers requires a focus on small businesses. CDFIs and financial intermediaries can help improve the lives of low-wage workers by centering job quality in their financing and advising. CDFI grantees will integrate job quality into their financing and advising services to support and incentivize small- and medium-sized businesses to improve job quality in areas including worker compensation, advancement, employee satisfaction, basic benefits, incentives, and wealth building. BBIF is dedicated to providing business owners with the mentorship and training needed to have a successful business, which includes ensuring that their employees have high-quality positions . Through the initiatives of the organization’s skilled advisors, BBIF’s clients receive the individualized growth strategies they need to scale their businesses. Joining the CDFI grantees, the Economic Opportunities Program, and the Bill & Melinda Gates Foundation in this collaborative effort are key partners U.S. Bancorp Community Development Corporation (USBCDC) and Pacific Community Ventures (PCV). USBCDC, the community development and tax credit subsidiary of U.S. Bank, will provide CDFI partners with an opportunity to apply for capital investments; PCV will leverage its existing expertise in good jobs business advising to support CDFIs in strengthening their practices. “At BBIF we are continuously looking for ways to support small businesses for long term gains,” said Duane Lewis, COO, BBIF. “Having business owners think critically about job quality and how they can invest in their employees will make a difference in the business’s success. We are looking forward to this partnership with Aspen Institute and the impact the initiative will have for local communities.” DUANE LEWIS COO, BBIF “This is a critical undertaking to meaningfully improve jobs in a way that benefits both workers and business owners. Most business owners recognize the value of their employees, but need information, incentives, and tools to improve job quality,” said Maureen Conway, vice president at the Aspen Institute and executive director of the Institute’s Economic Opportunities Program. “We are pleased to partner with these CDFIs who share our values and are well-positioned to help small businesses seize opportunities for job quality improvements in the short term and ultimately drive structural changes for a stronger and more resilient economy.” By integrating job quality-related services into their existing operating and financial models and demonstrating the impact of CDFIs in improving job quality, these CDFI partners will help establish job quality as a key driver of economic mobility and long-term business success. In the long term, Shared Success aims to raise the floor for workers across the US small business ecosystem by demonstrating that small business owners can feasibly enhance job quality in ways that strengthen business resilience and worker wellbeing and by developing the capacities, products, and practices of financial institutions to facilitate job quality improvements. ### 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 .