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ORLANDO, FL – BBIF is incredibly grateful to have been selected by the U.S. Department of the Treasury’s Community Development Financial Institution ( CDFI Fund) to receive an award of $560,000! We were among 252 ( Community Development Financial Institution) CDFIs to receive $194.1 million in Financial Assistance (FA) awards. This generous contribution will help us to substantially increase our lending and investment activities in smaller neighborhoods and communities. “This investment from the Fund allows for BBIF to continue its intentional work of funding and developing small businesses in our region,” said Inez Long, BBIF President/CEO. “With this injection of equity, BBIF’s capacity is enhanced — providing greater access to patient and flexible capital, creating jobs, and empowering communities throughout Florida.” CDFIs can apply for Financial Assistance (Base-FA) awards of up to $1 million, which can be used for lending capital, loan loss reserves, capital reserves, financial services, and development services. To qualify for Base-FA funding, CDFIs must match the award with funds from a non-federal source in order to sustain and expand their financial products and services. These awards must also help achieve at least one of the FA objectives: Increase volume of products or services Provide new products or services Expand operations into new geographic areas Service new targeted populations To view the FY 2022 CDFI Program award book, click here. 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 CDFI Fund Since its creation in 1994, the CDFI Fund has awarded nearly $5.7 billion to CDFIs, community development organizations, and financial institutions through: the Bank Enterprise Award Program; the Capital Magnet Fund; the CDFI Rapid Response Program; the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Economic Mobility Corps; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $71 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds for more than $2.1 billion through the CDFI Bond Guarantee Program. To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at www.cdfifund.gov .

BBIF receives $3.5M to boost lending and investment activities in underbanked communities ORLANDO, FL – April 12, 2023 On April 10, 2023, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded over $1.73 billion in grants to 603 Community Development Financial Institutions (CDFIs) across the country through the CDFI ERP . BBIF has been awarded $3.5 million. The allocation of these funds will enhance our organization’s capacity to support low- and moderate-income communities in recovering from the economic impact of the COVID-19 pandemic, while also promoting long-term economic prosperity. “In the face of the economic uncertainty caused by the COVID-19 pandemic, small business owners have been placed in an extremely vulnerable position,” said BBIF President/CEO Inez Long. “Receiving this grant from the CDFI Fund is a significant step forward in helping us to address the needs of these business owners and support their economic recovery. We are thrilled about the opportunities this grant will create for our organization and the positive impact it will have on the communities we serve.” The ERP is a grant program that aims to boost the lending, investment, and grant-making activities of CDFIs in low or moderate-income communities. These communities have significant financial needs and have been disproportionately affected by the economic fallout from the COVID-19 pandemic. Through this program, CDFIs can acquire the resources they need to expand their organizational capacity, including technology, staff, and other tools that are essential to achieving their objectives. By participating in the ERP, CDFIs can better serve these communities, help bridge the gap in unmet capital and financial services needs, and aid in the overall economic recovery of these areas. The CDFI ERP is part of a comprehensive range of federal investments that aim to increase access to capital in communities facing barriers to full financial inclusion. Other programs in this suite include the State Small Business Credit Initiative, Emergency Capital Investment Program, and the CDFI Rapid Response Program, which BBIF received an award of $1.28 million from in 2021. Through this program, BBIF played a pivotal role in supporting economic development and access to capital, helping to bridge the financial gap in underserved communities and promote financial inclusion. 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 .

FAIRWINDS Foundation Awards $30,000 Grant to BBIF to Empower Small Businesses through Financial Literacy Education ORLANDO, FL (March 7, 2023) – FAIRWINDS Foundation, a nonprofit 501(c)(3) organization that serves as the philanthropic arm of FAIRWINDS Credit Union, announced the recipients of its 2023 grants at a breakfast event held at Full Sail Live attended by community leaders and twelve organizations embodying the Foundation’s core purpose of improving lives through financial well-being. By way of charitable affiliate BBCDC, BBIF was awarded $30,000 from FAIRWINDS Foundation. The grant will help support BBIF’s efforts to empower small businesses through financial literacy education.  “We are excited to continue our partnership with FAIRWINDS Foundation,” said Inez Long, President/ CEO of BBIF. “We know from experience that financial literacy training and business coaching are just as critical as access to capital when it comes to building and sustaining successful enterprises. This grant will enable us to continue providing essential skills and resources to business owners.” In 2022, with the support of the FAIRWINDS Foundation, BBIF launched its Financial Literacy Workshop Series. Led by BBIF’s Small Business Consultant, Karlon Johnson, the series offers essential financial literacy tips for personal and business finances, including personal credit, managing debt, debt payoff strategies, building a financial future/plan, financial management and managing cash flow. Over the year, more than 250 individuals attended the workshops, receiving positive feedback from attendees. The program underscores the importance of financial literacy education in supporting the growth and success of small businesses. This new grant from FAIRWINDS Foundation will enable BBIF to continue providing this crucial resource to small businesses in Central Florida “We believe that when families and individuals have the information and tools needed to secure and improve their financial health, we collectively impact and improve our community’s economic well-being,” said Elisha González, vice president of community relations and government affairs at FAIRWINDS and executive director of FAIRWINDS Foundation. “These non-profits are conducting incredible work to advance financial literacy and shepherding our communities to experience financial freedom and reach broad-based prosperity.” 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. 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 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 .

Celebrating a Partnership that Empowers Communities In the ever-evolving landscape of community development and financial assistance, partnerships that foster growth and offer support to the business community is invaluable. Today, we shine our partner spotlight on an exemplary collaboration between Truist and BBIF, showcasing a journey of dedication, support, and impactful results. Truist: A Pillar of Support Since Inception Truist, a major U.S. commercial bank with a profound commitment to building better lives and communities, has been a steadfast supporter of BBIF since its inception. The corporation has provided grants that are critical in establishing lending funds, educational resources, and training services tailored for small businesses across Florida. The Truist Foundation, renowned for its mission to support nonprofit organizations in their initiatives to enhance economic mobility, plays a crucial role in BBIF's efforts to reach small businesses lacking access to traditional lending markets. You can learn more about the foundation's work and principles at their   website . Guiding our Collaborative Success: Tammy Paycer At the helm of this partnership from Truist's side is Tammy Paycer, Senior Vice President and Regional Community Development Manager for Central and North Florida. Paycer has been with Truist (previously SunTrust) since 1998, taking on her current role in 2015 where she oversees the implementation and execution of Community Reinvestment Act (CRA) strategies and community development engagement activities. A veteran in the banking industry since 1994, Paycer's vast experience and passion for community work shine through her involvement with multiple community boards and committees, including the Florida Housing Coalition Advisory Council and the Black Business Investment Fund Community Development Committee. As a key figure in fostering the partnership between Truist and BBIF, Paycer provides deep insights into the strategic importance of this alliance. Below, she answers several questions that illuminate the nature of Truist's commitment and the envisioned impacts of their collaborative efforts. Q&A with Tammy Paycer What does investing with BBIF mean to you?   Paycer:  Truist has supported BBIF since the organization’s inception and it has been a privilege to provide Truist Foundation and Truist Charitable Fund grants that help expand BBIF’s work to establish lending funds, educational resources, and training services for small businesses across Florida.   What motivates you to invest in BBIF? Paycer:  BBIF shares our vision to support underbanked communities and is the leading Community Development Financial Institution (CDFI) in Florida with a proven track record of helping diverse-owned small businesses for over 30 years.    What outcomes/impact do you hope to see from your investment in BBIF?   Paycer: We hope our investment helps expand BBIF’s support and services to small businesses that haven’t had access to the traditional lending market in the past.   Why was it important for Truist to invest in financial literacy education (with BBIF)?   Paycer: At Truist, our purpose is to inspire and build better lives and communities and one of the ways we do this is by supporting community organizations that provide small businesses access to guidance and tools through financial education programs and initiatives. A Future Built on Shared Values The partnership between Truist and BBIF is more than just financial; it's a shared commitment to empower and uplift, ensuring that small businesses not only survive but thrive. This collaboration stands as a beacon of hope and a testament to the power of united visions in creating substantial, lasting impact in the community. 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 .

It is with profound sadness that we share the news of the sudden passing of our President and CEO, Inez Long.  She passed away suddenly on June 29, 2024.  Inez was a visionary leader who dedicated her life to the growth and success of BBIF. She led with passion, integrity, and a steadfast commitment to innovation and excellence. Under her leadership for over 30 years, BBIF has achieved numerous milestones and expanded its impact across the industry. "Our hearts are heavy with the loss of Inez, our beloved Madame President," said BBIF Board Chair Jacqueline Barr.  "We are grateful for her extraordinary contributions and leadership. Our thoughts and prayers are with her family during this difficult time." The Board of Directors will appoint an interim CEO to ensure a smooth transition and maintain the company’s operations without interruption. Further details will be shared in the coming days. We ask for respect and privacy for Inez’s family as they navigate this tragic loss.  Our offices are closed today, Monday July 1st. During this adjustment period, our team may have limited accessibility. We appreciate your understanding and patience as we manage through this transition. Thank you for your understanding and support during this difficult time. - The BBIF Team

FOR IMMEDIATE RELEASE Orlando, FL – July 2, 2024  – BBIF announces the appointment of Oraine Reid and Duane Lewis as interim co-Chief Executive Officers (co-CEOs), effective immediately, in accordance with the board's succession plan. This decision follows the recent passing of our esteemed president and CEO, Inez Long, whose leadership and more than 30 years of dedication to business development will continue to inspire our work. The Board of Directors, led by Chair Jacqueline Barr, made this strategic decision to ensure continuity and organizational stability during this transition. BBIF has a long history of supporting businesses through innovative financial solutions, strategic partnerships, and a commitment to economic growth. As BBIF continues its mission to create opportunities for entrepreneurs, the appointment of interim co-CEOs represents an important step in maintaining progress and advancing the organization's strategic objectives. "With the appointment of Oraine Reid and Duane Lewis as our interim Co-CEOs, we are proud to highlight the depth of experience and talent within our organization. Both have played an integral role in our growth and strategic planning, working closely alongside our late CEO. Together, they bring over 30 years of combined industry experience and carry forward the vision and leadership she exemplified. This appointment from within reflects the strength of our leadership team,” said Jacqueline Barr, Chair of the Board. "Their combined expertise in financial management, strategic planning, and business development will be essential in guiding BBIF through this transition. While we deeply mourn the loss of Inez, the organization is well-positioned to continue her legacy of impact." About Oraine Reid Oraine Reid, Vice President of Finance at BBIF, has been a dedicated member of the team since 2009. With a Bachelor's and an MBA in accounting, Oraine brings over 18 years of experience in accounting and lending, including more than 15 years in the CDFI sector. His expertise has been pivotal in overseeing BBIF’s financial operations, ensuring robust internal controls, and offering strategic financial guidance. In his leadership role, Oraine manages the New Market Tax Credit division, where his proficiency in funding and compliance has been key to the division's success. Oraine's journey with BBIF began as a loan officer during the organization’s statewide expansion, where he helped facilitate over $80 million in loans and provided invaluable business counseling. Prior to BBIF, he gained significant experience with the New York City Department of Finance and Phipps Houses Services, Inc. Beyond his professional accomplishments, Oraine has served on the board of “Unity in Uniform,” supporting young professionals through education and mentorship. His financial expertise and dedication ensure that BBIF remains a trusted resource for investors and business owners alike. About Duane Lewis Duane Lewis is the Chief Operating Officer at BBIF, where he leads internal operations and provides strategic leadership to ensure the organization fulfills its mission of providing flexible, affordable, and responsible financing, management consulting, and technical assistance to businesses. With a distinguished career in financial management, Duane has previously served as Chief Financial Officer for a private contracting company, overseeing all financial operations and developing strategies to minimize financial risk. He brings extensive experience in credit analysis and has worked with a variety of loan products, including structuring B&I and Commercial Real Estate lending transactions, and New Markets Tax Credits Financing. Duane’s experience in business development is reflected in his service on the boards of the City of Orlando’s Enterprise Business Assistance Program and the City of Kissimmee’s Business Council. Certified by the National Development Council as an Economic Development Professional, Duane holds a Bachelor of Commerce with honors in Business Administration and Economics from the University of Windsor. His strategic vision and operational leadership play a key role in advancing BBIF’s mission. Moving Forward Under the leadership of the interim co-CEOs, BBIF will continue to focus on its core initiatives, including: Capital Access:  Expanding loan and investment opportunities to support business growth. Financial Education:  Increasing access to financial literacy resources and business training programs. Business Support Services:  Providing customized guidance and mentorship to help businesses navigate challenges and achieve long-term success. BBIF remains committed to fostering economic growth and expanding opportunities for business owners across Florida and beyond. The organization will continue to collaborate with partners, stakeholders, and the community to strengthen businesses and drive sustainable growth For more information about BBIF and its initiatives, please visit our website. Media Contact: Rhema Nnadi Director of Marketing, BBIF Rnnadi@bbif.com

FOR IMMEDIATE RELEASE Orlando, FL – July 19, 2024  – Following the recent announcement of their appointments as interim co-Chief Executive Officers (co-CEOs) of the BBIF, Duane Lewis and Oraine Reid share their vision for the future and reflect on the enduring legacy of the late Inez Long. As BBIF continues its mission, the organization reaffirms its unwavering commitment to economic development and support for diverse entrepreneurs. "It is with profound respect and gratitude that we step into these roles," said Duane Lewis, Interim Co-CEO. " Inez Long was a remarkable leader whose vision and dedication shaped BBIF into the CDFI powerhouse it is today. Her legacy is one of empowering and providing economic resources to underserved communities, and Oraine and I are committed to continuing her vision. Our focus remains on empowering entrepreneurs through innovative financial solutions and unwavering support." Oraine Reid, Interim Co-CEO, added, " Working alongside Inez for many years has prepared us to uphold and advance her vision. The strength of BBIF lies in its team, and together, we embody the resilience and determination that Inez instilled in us. We are confident in our ability to navigate this transition and lead BBIF into a future that honors her incredible contributions. The true mark of Inez’s leadership is the thriving organization she left behind, filled with capable and passionate individuals ready to carry the torch." As BBIF moves forward, the organization remains steadfast in its commitment to fostering economic development and supporting entrepreneurs. The co-CEOs assure funders, partners, and the community that BBIF's mission and values are stronger than ever. "We want our stakeholders to know that while the loss of Inez was great, her spirit and drive live on within us and the entire BBIF family," said Duane Lewis. "We are united in our purpose and resilient in our approach, ready to face the challenges ahead and seize new opportunities for growth and impact." Oraine Reid added “Our organization is stronger than ever and will continue to execute on our strategy with precision and passion. We will continue to carry the torch forward, building on the momentum created by Inez. Our leadership team is dedicated, experienced, and committed to continue to drive progress, innovate, and deliver results." For more information about BBIF and its initiatives, please visit our website. Media Contact: Rhema Nnadi Director of Marketing, BBIF Rnnadi@bbif.com

BBIF is thrilled to announce that we have been awarded $50 million in New Markets Tax Credit (NMTC) allocations from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. This allocation enables us to continue our work in providing capital to support economic development in low-income communities across Florida and Georgia. About the NMTC Program The NMTC Program was established by Congress to drive investment and economic growth in economically distressed communities. The program allows individual and corporate taxpayers to receive a non-refundable tax credit against federal income taxes in return for making equity investments in financial intermediaries known as Community Development Entities (CDEs). The impact is significant, with the CDFI Fund estimating that for every $1 invested by the federal government, the NMTC Program generates $8 in private investment. BBIF's Focus Areas for NMTC Projects With this new allocation, BBIF will continue to focus on key areas that align with our mission to empower communities through economic development: Community Healthcare : Investing in projects that increase access to quality healthcare services in underserved areas. Small Business : Providing flexible, low-cost capital to support small businesses, particularly those owned by overlooked entrepreneurs. Manufacturing : Encouraging the growth of manufacturing businesses that create jobs and drive economic growth in low-income communities. Youth and Education : Supporting educational facilities and programs that provide critical resources to children and youth, fostering long-term community development. BBIF's Ongoing Impact Since our first federal NMTC allocation in the 2014 funding cycle, BBIF has been awarded seven allocations totaling $248 million. This latest award will continue to bolster our efforts to inject capital into communities that need it the most. Our work with NMTC has already led to the development and expansion of numerous projects, such as community healthcare centers and educational facilities. See BBIF's NMTC Work in Action We invite you to learn more about our recent projects which showcases the transformative power of NMTC investments. These initiatives have not only revitalized commercial corridors but have also provided essential services and job opportunities to communities. For more information about BBIF's NMTC projects and to see how these investments are making a difference, please visit our website . 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 .

We’re thrilled to share some fantastic news! BBIF has been selected as a recipient of the 2024 Financial Assistance (FA) Award by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). This $625,000 grant will enable us to expand our financial products and services to underserved communities, driving economic growth and creating new opportunities. This recognition is part of the CDFI Fund’s efforts to invest in organizations dedicated to uplifting low-income communities across the nation. With over 350 CDFIs recognized this year, it’s an honor to be among those working to make a difference. "Securing an FA award is a big win for our team and the communities we serve. It means new opportunities, more jobs, and brighter futures for people and businesses who have been overlooked for too long. We're excited and grateful to continue making a real difference where it's needed most,"  said the Vice President of Strategic Initiatives, Jasmine Gebon. "This funding is a testament to BBIF’s ongoing commitment to empower underbanked communities," said Duane Lewis, BBIF Interim Co-President/CEO. "We’re honored to receive this support, which will help us drive meaningful economic impact." "This award provides a much-needed equity injection, enhancing BBIF’s operational and lending capacity, allowing us to channel vital support into businesses ," said Oraine Reid, BBIF Interim Co-President/CEO. This achievement strengthens our commitment to driving positive change and creating new opportunities for those 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 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 . Media Contact Rhema Nnadi Director of Marketing, BBIF Rnnadi@bbif.com

BBIF Florida Receives More Than $1.5M in Grants and Loans From Wells Fargo and SunTrust for Small Business Growth ORLANDO, Fla. - One of the greatest contributors to the failure of any start-up organization is a lack of funding to help get the business off the ground. And yet, the U.S. Census Bureau reports that small businesses comprise more than 99 percent of America’s 28.7 million firms. A similar message resounded from Xavier Ramey, CEO of the social impact consulting firm Justice Informed and keynote speaker at last Thursday’s Black Business Investment Fund of Florida (BBIF) annual partner luncheon. In his remarks, entitled “The Road to Economic Justice, For Black and Brown Communities,” Ramey emphasized the importance of the business community rising up to lend a hand to minority-owned businesses. Also, as part of the luncheon, attendees heard from representatives of Wells Fargo and SunTrust banks about their roles in supporting the BBIF, a mission-driven lender and business development organization that helps communities thrive by providing loan capital for African-Americans, other minorities and underserved businesses by creating opportunities for low-income communities through real estate investments. In fact, the Wells Fargo Foundation announced it had awarded a $500,000 grant to BBIF in support of diverse small businesses. The grant is part of the Wells Fargo Works For Small Business® : Diverse Community Capital (DDC) program, which offers capital and technical assistance to minority-owned small businesses as a way to create local jobs and strengthen neighborhoods. This $500,000 investment will help to support BBIF’s statewide growth and expansion plans. Specifically, the funds will be used to create a Construction Assistance Center to propel minority entrepreneurs in the booming construction industry in several areas throughout the state. “This recently announced grant represents a continuation of the Wells Fargo Foundation’s ongoing commitment to support diverse communities as well as black and minority businesses throughout Florida,” stated Inez Long, president and CEO of BBIF. “This new investment will provide BBIF the resources necessary to better respond to the needs of our client-base, providing specific training resources that they need to scale their businesses and create additional jobs.” “BBIF Florida is deeply embedded in the community and has the skill to deliver personalized coaching, services, and capital to minority small-business owners,” said BBIF Florida Board Member and Wells Fargo Florida and Southeast Community Relations Senior Manager Marilyn Drayton. “Together, we can help more diverse entrepreneurs reach their full potential and stimulate job creation in the process. We know that working with CDFIs is an effective way to put more small businesses on a path to financial success.” Marilyn Drayton BBIF FL Board Member / Wells Fargo & Southeast Community Relations Senior Manager In addition, SunTrust Community Capital, a subsidiary of SunTrust Banks, Inc., announced at the luncheon that it would be providing a $1 million low-interest loan to BBIF. The loan will go towards capitalizing well-established BBIF Florida small business loan programs that are then made available to privately-owned and minority-owned businesses located across the state. “BBIF Florida is a real agent of change in Florida’s communities. Their dynamic approach of coupling training with affordable lending has helped community members across the state start businesses that have thrived, while employing thousands of Floridians. We are proud to further our relationship with BBIF Florida and look forward to seeing their continued success,” said Sandy Hostetter, Orlando Market president of SunTrust. Over 30 years, BBIF Florida has issued more than 400 loans, totaling $47.6 million, to support the creation of nearly 13,000 jobs. According to the U.S. Department of Commerce’s Minority Business Development Agency, Florida ranks among the top states for minority-owned businesses. “SunTrust has been an organizational investor for over 31 years. This investment serves as a new opportunity to impact more black and minority small businesses throughout Florida” added Long. ### About BBIF Florida BBIF Florida is a mission-driven lender and business development organization that helps communities thrive by providing loan capital for African Americans, other minorities and underserved businesses by creating opportunities for low-income communities through real estate investments. The key to BBIF’s success has been a deep sense of purpose, a broad perspective, and a consistent focus on achieving positive results. Headquartered in Orlando, Fla., BBIF is Florida’s largest statewide small business lender that specializes in providing capital for minority and underserved businesses. Since 1988, BBIF has provided over $48 million in loans to more than 434 businesses and leveraged $132 million in New Markets Tax Credit (NMTC) community investments. BBIF is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) Fund, Community Development Enterprise (CDE) and New Markets Tax Credit Allocation. BBIF is certified by the U.S. Small Business Administration (SBA) as a Community Advantage “Delegated” Lender and Micro Loan Lender, by the Federal Deposit Insurance Corporation (FDIC) as a Money Smart Small Business Collaborator and is a member of the prestigious Opportunity Finance Network (OFN), a national membership group of CDFIs, as well as the Association for Enterprise Opportunity (AEO), a national membership group of microenterprise financers. BBIF is an equal opportunity provider. In addition to providing simplified capital solutions, BBIF Florida assists business clients by providing financial technical assistance services. An intensive management capacity training service, the Financial Training Academy helps business owners to successfully manage and meet their business challenges, maximizing profits and creating/retaining jobs. The entrepreneurial spirit of our clients drives our passion for the work we do, breaking down barriers and strengthening businesses in the markets we serve. For more information, visit https://bbif.com/ About Wells Fargo Works For Small Business Launched in 2015, the Wells Fargo Works For Small Business ®: Diverse Community Capital program operates in collaboration with the Opportunity Finance Network (OFN). According to OFN’s latest report, DCC awardees have already made more than 16,000 loans to diverse small business owners resulting in $785 million in lending across 37 states, Washington, D.C. and Puerto Rico. In addition, grant funding has provided for more than 322,000 hours of development services for over 49,000 diverse entrepreneurs. Wells Fargo is on track to invest more than $175 million in diverse small businesses growth through 2020. About SunTrust Banks, Inc. SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp , a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of June 30, 2019, SunTrust had total assets of $222 billion and total deposits of $161 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com .

ORLANDO, FLORIDA – The Black Business Investment Fund of Central Florida (BBIF) is pleased to announce it has been awarded $33.5 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. Since receiving its first federal NMTC allocation in the 2014 funding cycle, BBIF has been awarded four allocations totaling $93.49 million. The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments on projects in economically distressed communities. The credit totals 39 percent of the original investment amount and is claimed over a period of seven years. “We are honored by CDFI Fund’s support of our work and affirmation of our mission to provide low-cost, flexible capital and technical assistance to small and medium-sized businesses owned by Black, minority, and other underserved women and men in our state,” said Inez Long, CEO of BBIF. “We will use this allocation to invest in job creation, healthcare, education, and purveyors of fresh food in severely distressed communities and we are honored to be entrusted to support and invest in our underserved communities, particularly during this health and economic crisis.” INEZ LONG CEO, BBIF Since its inception in 2001, the NMTC program has awarded more than $61 billion to projects across the United States. About BBIF Florida BBIF Florida is a mission-driven lender and business development organization that helps communities thrive by providing loan capital for African American, other minorities and underserved businesses and by creating opportunities for low-income communities through real estate investments. The key to our success has been a deep sense of purpose, a broad perspective, and a consistent focus on achieving positive results. Headquartered in Orlando, BBIF is and is Florida’s largest statewide small business lender that specializes in providing capital for minority and underserved businesses. Since 1988, BBIF has provided over $49.8 million in loans to more than 451 businesses and leveraged $135.19 million in New Markets Tax Credit (NMTC) community investments. BBIF is certified by the U.S. Department of the Treasury CDFI Fund as a Community Development Financial Institution (CDFI), Community Development Enterprise (CDE) and New Markets Tax Credit Allocatee. BBIF is certified by the U.S. Small Business Administration (SBA) as a Community Advantage “Delegated” Lender and Micro Loan Lender, the State of Florida as a Black Business Investment Corporation, by the Federal Deposit Insurance Corporation (FDIC) as a Money Smart Small Business Collaborator, by the U.S. Department of Transportation as a Short Term Lender and is a member of the prestigious Opportunity Finance Network (OFN), a national membership group of CDFIs. BBIF is an equal opportunity provider. In addition to providing simplified capital solutions, BBIF Florida assists business clients by providing financial technical assistance services. An intensive management capacity training service, the Financial Training Academy helps business owners to successfully manage and meet their business challenges, maximizing profits and creating/retaining jobs. The entrepreneurial spirit of our clients drives our passion for the work we do, breaking down barriers and strengthening businesses in the markets we serve. For more information, visit https://bbif.com/

BBIF Florida Receives $500,000 Grant From Wells Fargo to Spark Small Business Growth ORLANDO, Fla – The Black Business Investment Fund of Florida (BBIF) is pleased to announce today that the organization has been awarded a $500,000 grant from Wells Fargo in support of diverse small businesses. The grant, from the Wells Fargo Foundation, is part of the Wells Fargo Works For Small Business® : Diverse Community Capital (DDC) program, which offers capital and technical assistance to minority-owned small businesses as a way to create local jobs and strengthen neighborhoods. This grant is one of 18 funded so far this year totaling $7.9 million in contributions nationwide to Community Development Financial Institutions (CDFIs). “This recently announced grant represents a continuation of Wells Fargo’s ongoing commitment to support diverse communities as well as black and minority businesses throughout Florida,” stated Inez Long, president and CEO of BBIF. “This new investment will provide BBIF the resources necessary to better respond to the needs of our client-base, providing specific training resources that they need to scale their businesses and create additional jobs.” The $500,000 investment will help to support BBIF’s statewide growth and expansion plans. Specifically, the funds will be used to create a Construction Assistance Center to propel minority entrepreneurs in the booming construction industry in several areas throughout the state. BBIF was one of three initial Community Development Financial Institutions (CDFI) Funds to be awarded grant dollars through Wells Fargo’s DCC program when it launched in 2015. At that time, BBIF was awarded $1 million. “BBIF Florida is deeply embedded in the community and has the skill to deliver personalized coaching, services, and capital to minority small-business owners,” said BBIF Florida Board Member and Wells Fargo Florida and Southeast Community Relations Senior Manager Marilyn Drayton. “Together, we can help more diverse entrepreneurs reach their full potential and stimulate job creation in the process. We know that working with CDFIs is an effective way to put more small businesses on a path to financial success.” Wells Fargo has been an essential part of BBIF’s growth over the last four years, providing debt and grant capital investments totaling more than $4 million. This total includes funds used to launch a Hurricane Resiliency Loan Fund, through which BBIF partners with other Florida-based CDFIs to provide capital to small businesses that have been impacted by recent hurricanes, or are preparing in advance for potential storms. Launched in 2015, the Wells Fargo Works For Small Business ®: Diverse Community Capital program operates in collaboration with the Opportunity Finance Network (OFN). According to OFN’s latest report, DCC awardees have already made more than 16,000 loans to diverse small business owners resulting in $785 million in lending across 37 states, Washington, D.C. and Puerto Rico. In addition, grant funding has provided for more than 322,000 hours of development services for over 49,000 diverse entrepreneurs. Wells Fargo is on track to invest more than $175 million in diverse small businesses growth through 2020. About BBIF Florida BBIF Florida is a mission-driven lender and business development organization that helps communities thrive by providing loan capital for African-Americans, other minorities and underserved businesses by creating opportunities for low-income communities through real estate investments. The key to BBIF’s success has been a deep sense of purpose, a broad perspective, and a consistent focus on achieving positive results. Headquartered in Orlando, Fla., BBIF is Florida’s largest statewide small business lender that specializes in providing capital for minority and underserved businesses. Since 1988, BBIF has provided over $48 million in loans to more than 434 businesses and leveraged $132 million in New Markets Tax Credit (NMTC) community investments. BBIF is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) Fund, Community Development Enterprise (CDE) and New Markets Tax Credit Allocatee. BBIF is certified by the U.S. Small Business Administration (SBA) as a Community Advantage “Delegated” Lender and Micro Loan Lender, by the Federal Deposit Insurance Corporation (FDIC) as a Money Smart Small Business Collaborator, and is a member of the prestigious Opportunity Finance Network (OFN), a national membership group of CDFIs, as well as the Association for Enterprise Opportunity (AEO), a national membership group of microenterprise financers. BBIF is an equal opportunity provider. In addition to providing simplified capital solutions, BBIF Florida assists business clients by providing financial technical assistance services. An intensive management capacity training service, the Financial Training Academy helps business owners to successfully manage and meet their business challenges, maximizing profits and creating/retaining jobs. The entrepreneurial spirit of our clients drives our passion for the work we do, breaking down barriers and strengthening businesses in the markets we serve. For more information, visit https://bbif.com/