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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

Ray Gilley brings decades of leadership and a commitment to economic development. ORLANDO, FL – December 20, 2024  – BBIF is proud to announce the appointment of Ray Gilley as its new Chief Executive Officer. After an extensive search process, Ray was selected for his outstanding leadership, broad expertise, and unwavering dedication to community and economic development.  Ray brings decades of experience in business retention, growth, and attraction, as well as the development and implementation of financial tools such as Tax Incentives, Industrial Revenue Bonds, CDFI funds, Tax Allocation Districts, and New Market Tax Credits. Throughout his career, he has successfully collaborated with cross-functional teams and stakeholders to deliver impactful programs and sustainable results across regional, state, county, and community levels.    In addition to his professional accomplishments, Ray has held numerous appointed and volunteer roles across education, economic and workforce development, healthcare, business, and community development. His broad perspective and extensive network of relationships uniquely position him to lead BBIF into its next chapter of growth and impact.    “I am excited to join BBIF and build on its incredible legacy of advancing opportunities for underbanked businesses and communities,” said Ray Gilley, BBIF CEO. “This is an important time for the organization, and I am confident that, together with the talented team and our valued partners, we will continue to innovate, deliver meaningful results, and make a lasting difference.”    BBIF Board Chair, Jacqueline Barr, shared her enthusiasm about the appointment. “Ray’s wealth of experience, strategic vision, and proven ability to drive impactful results make him an ideal leader for BBIF. The board is confident in Ray’s ability to guide the organization forward, deepen our partnerships, and expand our reach in underbanked communities. We are excited for this next chapter under his leadership and look forward to the continued growth and success of BBIF.”    In the coming weeks and months, BBIF looks forward to introducing Ray to its partners, stakeholders, and community supporters. These engagements will provide opportunities to share his vision for BBIF and deepen connections with those who play a critical role in advancing the organization’s mission.    BBIF remains committed to empowering businesses, fostering equitable growth, and creating sustainable economic opportunities in underserved communities.    About BBIF:    Created in 1987, BBIF 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% .   www.BBIF.com .      ###    Media contacts:    Jasmine Gebon, VP Strategic Initiatives   jgebon@bbif.com     Rhema Nnadi, Marketing Director   rnnadi@bbif.com

ORLANDO, FL (January 14, 2025) FAIRWINDS Foundation, the philanthropic arm of FAIRWINDS Credit Union, recently announced the recipients of its 2025 grants at a breakfast event held at Full Sail Live. The event, attended by prominent community leaders and representatives from sixteen organizations, celebrated the Foundation’s largest grant distribution to date. This year, FAIRWINDS Foundation increased its grant contributions by $100,000, bringing the total to an impressive $500,000. Since 2018, the Foundation has dedicated over $2 million towards initiatives aimed at enhancing financial well-being, underlining its commitment to improving lives through financial literacy. Among the recipients, BBIF, through its charitable affiliate BBCDC, was awarded $30,000. This grant will support BBIF’s ongoing efforts to empower small business owners with critical financial literacy education. "We value our ongoing relationship with FAIRWINDS Foundation," stated Duane Lewis, Executive Director of BBCDC & COO of BBIF. "Their support helps us deliver the vital resources and guidance that business owners require to succeed. FAIRWINDS' commitment to financial literacy education is one that we deeply admire, as it is crucial for empowering entrepreneurs." Initiated in 2022 with the support of FAIRWINDS Foundation, BBIF’s Financial Literacy Workshop Series, led by BBIF team member Karlon Johnson, has been a key part of this initiative. The workshops cover essential financial topics such as personal credit, debt management, and cash flow strategies. To date, the series has benefited hundreds of entrepreneurs, reinforcing the importance of financial education in business growth and success in Central Florida. With this renewed grant, BBIF is set to expand these valuable services, reaching an even broader audience of entrepreneurs in the upcoming year. "When individuals and families have access to the right information and resources to strengthen their financial well-being, it creates a positive ripple effect on the local economy," said Elisha González, vice president of community relations and government affairs at FAIRWINDS and executive director of FAIRWINDS Foundation. "These organizations are doing outstanding work to advance financial literacy, helping businesses and communities achieve greater financial stability and long-term success." 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 For 75 years,  FAIRWINDS  Credit Union has helped members achieve financial freedom by saving more, eliminating debt, building wealth, and living generously. Headquartered in Orlando, Florida,  FAIRWINDS  serves more than 225,000 members with innovative and secure personal and commercial financial services, including deposits and loans, wealth management, retirement planning, treasury services, merchant services, and more. With a member satisfaction score twice the banking industry average,  FAIRWINDS  members experience confidence and peace of mind.  FAIRWINDS  is consistently named a top employer of choice, including  American Banker ,  Credit Union Times,  and  Florida Trend . Recognized among Central Florida’s most philanthropic companies by  Orlando Business Journal ,  FAIRWINDS  builds financial literacy in the region through its  FAIRWINDS  Foundation. For more information, visit  www.fairwinds.org . About BBCDC The 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%. www.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/

ATLANTA, GA – SunTrust Community Capital, a subsidiary of SunTrust Banks, Inc., announced today that it will provide a $1 million low-interest loan to the Black Business Investment Fund (BBIF) of Florida. 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.” 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” said Inez Long, President and CEO of BBIF Florida. BBIF Florida is a 501(c)4 non-profit, community development financial institution. They are a mission-driven organization which helps Florida businesses thrive by providing loan capital alongside business development training. They help stabilize low-income, distressed neighborhoods by investing in economic development projects that support communities and create jobs. 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 .

About Fidelity Security Agency At Fidelity Security Agency, CEO Michael Williams has two goals. First, provide highly trained security professionals to protect client assets from criminal acts. Second, show his utmost appreciation and recognition to his valued employees. Fidelity Security Agency, a black-owned business, was undergoing an exciting expansion. After 13 years of operation, the company was looking to secure more accounts in the hotel industry. When the COVID-19 pandemic hit, it caused clients to retreat. Several were unable to pay for continued service and past services went unpaid. Once the cash flow stopped, expansion plans ceased and cash reserves dwindled.  Facing Economic Uncertainty Like Williams, many black and minority-owned business owners have found themselves vulnerable during the COVID-19 lockdown. Limited access to credit, investments and bank loans are underlying factors that have often prevented black and minority-owned small businesses from reaching financial goals. They are also more likely to operate in the service industries, which have been directly hit by the pandemic.  Williams knew he had to do everything in his power to protect his dedicated employees. But when he requested a Paycheck Protection Program (PPP) loan from his bank, he could not reach a lender to process his application.  Back in April, when the PPP was starting to take applications, experts reported roughly 95% of black-owned businesses had little or no chance of obtaining a PPP loan through a national lender because many were only working with existing clients to speed up the approval process. While some national lenders were prioritizing larger loan applications to help maximize their own profits. This prevented women and minority-owned small businesses with fewer employees from applying for the PPP loan because the value of their loans would be smaller than the loans sought by white male-owned businesses.  Responding to Economic Crisis That’s when Williams reached out to BBIF Florida for help. BBIF Florida is a non-profit Community Development Financial Institution (CDFI) with a mission to provide capital and training to black, minority, and underserved small businesses. BBIF Florida walked Williams through the PPP loan process and helped him navigate the eligibility requirements. After securing a PPP loan, Williams was able to save 37 jobs at Fidelity Security Agency and continue to provide excellent service to his clients.  “The PPP loan was a breath of fresh air for my organization. The peace of mind that my employees will be able to receive their paychecks on time was everything I could ask for. Big thanks to the BBIF team, who answered all of our concerns regarding the PPP loan process.” -Michael Williams, CEO of Fidelity Security Agency, LLC Photos of some of the members of the Fidelity Security Team at work.

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 invests in and builds the capacity of CDFIs that serve low-income people and underserved communities lacking adequate access to affordable financial products and services. For the FY 2021 CDFI Program round, the CDFI Fund awarded $119.2 million in Base-FA awards to 248 organizations in 40 states, the District of Columbia, and Puerto Rico. The CDFI Fund also awarded $18.6 million in PPC-FA awards to 125 CDFIs specifically to serve Persistent Poverty. 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 Black, minority, and underserved small businesses.  “This injection of capital comes at a pivotal time for many Black, minority, and underserved 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’s mission is to develop and promote Black business enterprises through education, training, loans, investments, and other activities and to aggressively promote an atmosphere conducive to their development. A mission-driven lender, BBIF helps communities and businesses thrive by providing loan capital and specialized financial technical assistance services. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury, Community Advantage and Micro Loan lender as certified by U.S. Small Business Administration, Money Smart for Small Business collaborator certified by the Federal Deposit Insurance Corporation (FDIC) and is AERIS rated triple star, A-minus. Since our inception, BBIF has provided over $62 million in loans to more than 800 businesses and leveraged $292 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 17,800 jobs, all while maintaining a historical loan loss rate of 4%.

BBIF Client Spotlight: CCI Group F or the past eight years, Indy Vega and her Orlando-based company, CCI Group, have become a trusted source of linguistic solutions for local, state and federal agencies in Florida.   What started out as a lifestyle business for Vega, allowing her to pursue her passion for languages while becoming her own boss, blossomed into a growing minority-owned company with eight full-time employees providing translation and interpretation services of more than 70 languages, including American Sign Language. “Our main goal is to enable our clients to succeed in a global economy through knowledge and understanding of language and culture,” according to Vega.  Her client-focused mission helped CCI Group thrive.  In fact, after experiencing a 35% growth in business in 2019, CCI Group had aggressive goals for 2020. This all changed with the coronavirus pandemic which forced governments to issue stay-at-home orders to help flatten the curve and reduce the load of patients in hospitals and other healthcare facilities. As a result, businesses were forced to close as Americans self-quarantined. “The future of CCI Group looked uncertain,” states Vega. “Our biggest clients closed unexpectedly without any signs of reopening. Since our employees provide in-person interpreting, there was absolutely nothing we could do to change this situation.”  The pandemic forced a record number of small businesses to close, if only temporarily. According to research from the University of California at Santa Cruz, between February to April 2020, the number of active business owners in the United States plummeted by 3.3 million or 22%, which is the largest drop in business owners on record. During the two-month period, 41% of Black business owners had to close their doors, while 32% of Latino business owners and 25% of female-owned businesses shuttered. In comparison, only 17% of white business owners closed during this period. While there are several factors that explain why minority businesses are closing at a higher rate, the most noteworthy cause is limited access or lack of capital, which makes it difficult to survive financial emergencies and economic downturn. Vega reached out to a national funder to apply for the Paycheck Protection Program (PPP), a loan created under the CARES Act and administered by the Small Business Administration. Despite her existing relationship with her bank, Vega was unable to gain access to the emergency funds. With no recovery strategy, Vega continued to search for a way to access the PPP loan and sought assistance from BBIF, a non- traditional lender and non-profit Community Development Financial Institution (CDFI). BBIF’s mission is to provide capital and training to black, minority, and underserved small businesses.  As of May 31, 2020, BBIF had provided $5.4 Million in PPP loans to underserved businesses. BBIF secured a PPP loan for CCI Group, allowing Vega to save four full-time positions. “BBIF gave us hope and made this a reality. Thanks to the PPP loan, we are able to focus on adapting effectively to the new normal and even develop our services in other areas that will allow us to bring our staff to work full-time again.” -Indy Vega, CEO of CCI Group