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BBIF is excited to be a participating lender for the Southern Opportunity and Resilience (SOAR) Fund, a new program designed to provide small businesses and nonprofits across the South with access to affordable capital and essential business support during a critical time. Through the SOAR Fund, BBIF will continue its mission to expand financial opportunities for small local businesses. The SOAR Fund, which will launch after the federal Paycheck Protection Program closes, will offer loans of up to $100,000 to eligible small businesses and nonprofits with fewer than 50 full-time employees. Small business owners and nonprofits who need support can visit the website and pre-register. Access the full press release to learn more . About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com . About the SOAR Fund The Southern Opportunity and Resilience Fund (SOAR) provides access to flexible, affordable capital and free business support services to small businesses and nonprofits through trusted community-based organizations. These organizations have decades of experience supporting historically under-resourced small businesses, including those in low-income and rural communities and owned by women and people of color. SOAR is a collaborative partnership of local and national community finance organizations created to address the needs of historically disenfranchised communities as they navigate and rebuild from the COVID-19 crisis. SOAR includes leaders from across sectors including local community lenders, national and state-based nonprofit organizations, corporations, philanthropic donors, and investors – all who are passionate about an equitable recovery across the region. ###

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

BBIF Client Spotlight: Vinali Staffing, LLC Vinali Staffing, LLC is a small business specializing in permanent and temporary staffing services across technology, accounting, healthcare, and logistics industries. Like many other small businesses during the COVID-19 pandemic, they faced financial challenges that made it difficult to retain their full-time employees. Ruth Valez, the owner of Vinali Staffing, explains how since she first opened in 2016, her business had been in a state of consistent growth. However, due to the pandemic, with many organizations downsizing, she found it difficult for her team to execute their tasks since a bulk of her clients no longer needed her services. Valez found herself needing to make the difficult choice of reducing the size of her team. Thankfully the opportunity to apply for the SBA’s Paycheck Protection Program (PPP) was presented to Vinali Staffing.  When Valez first applied for the PPP loan, it was through the financial institution that she worked with for the past 20 years. She explained the process as grueling; Valez felt like her application was another number that could become lost. She was able to get connected with BBIF after having the opportunity to hear about our mission on a webinar with Senator Rubio. BBIF’s loan team was able to work quickly and efficiently with Vinali Staffing to end their previous application and close a loan. Having the PPP loan allowed Valez to keep all 15 team members employed. As of December 2020, BBIF, a community development financial institution (CDFI), headquartered in Orlando, Florida, has approved over $7.23 Million in funding to 200 Black, minority, and underserved businesses and has retained over 1,300 jobs. “Working with BBIF feels like a 5-star experience; all of my problems were handled with the utmost care. When I contacted BBIF, all of my phone calls and emails were answered. Their responsiveness was a relief because I was able to receive realistic timelines and minimize any uncertainties. I did not feel like just another application number at BBIF.”  – Ruth Valez, CEO of Vinali Staffing, LLC

BBIF Client Spotlight: Tekontrol, Inc Navy Veteran Thomas Kornegay opened Tekontrol, Inc, in 1988, after working as a defense industry contractor for two years. For the past 34 years, Kornegay has diligently worked toward his business mission:  to provide the best technical service that a company needs, whenever they need them, while also ensuring that he can support fellow veterans. In 2020 the Coronavirus pandemic placed many businesses in very critical positions, Tekontrol being one. Mr. Kornegay began searching for funding to ensure that his employees were not without pay by applying for the COVID-19 Economic Injury Disaster Loans (EIDL) through the SBA, which provides funds for select organizations experiencing a temporary loss of revenue due to the health crisis.  After not hearing back from his traditional financial institution, Mr. Kornegay realized he would need to take action to save his business. He called Florida Senator Rubio’s office to get assistance with his application status. Seeing that Tekontrol is a Black-owned business, fulfilling an element of BBIF’s target market, Senator Rubio’s office connected Mr. Kornegay with BBIF. Once connected with BBIF, Mr. Kornegay received the EIDL and got approved for the Paycheck Protection Program (PPP).  In the early years of developing his businesses, Mr. Kornegay was referred to BBIF but did not develop a relationship with the community development financial institution (CDFI) at that time. He professes a missed opportunity on his behalf and states he should have gone with BBIF when he first started his business. He describes BBIF’s loan process as simple, easy to understand, and processed by staff that held his hand every step of the way. “I want everyone to recognize that BBIF is more than a lending organization; they understand what you want, what you need, and ensure that you have access to it.”  – Thomas Kornegay, CEO

BBIF Client Spotlight: Kindred Care EMS Kindred Care is a premier small, local medical transportation provider serving the metro Jacksonville, FL area. Business owner Marshiray Griffen, a Jacksonville native, founded Kindred Care after recognizing a need for reliable transportation services in her community. The company provides dependable, high-quality medical transportation for individuals who are unable to drive to their doctor appointments. Their top priority is ensuring timeliness, comfort, and exceptional care for every customer. At Kindred Care, patients are at the heart of their mission. Marshiray became familiar with BBIF after hearing a loan team member speak at a community meeting. This meeting alone made her begin brainstorming ways to ensure that her business was secure.  While speaking with this BBIF team member over the phone, she became aware of business needs that she did not consider, such as pursuing backup funds for her cash reserves. Having available dollars in cash reserves allows business owners to have funds set aside in the case of an emergency or to cover unexpected expenses. However, before she could acquire these funds, the coronavirus pandemic impacted the nation. When the COVID-19 crisis began in early 2020, Marshiray felt as if she was in a whirlwind. Seemingly overnight, there was a surge in demand for her services that she could not support due to it requiring more staffing she could not afford. Initially, insurance providers did not consider COVID-19 a “medical emergency” and were not including COVID transfers, making it extremely difficult to acquire the funds to meet her needs. To make matters worse, Kindred Care was forced to transfer billing companies due to their previous provider going out of business, proving to be a very costly and unexpected expense. Being that Marshiray developed a relationship with BBIF before the pandemic, she felt comfortable applying for the Paycheck Protection Program (PPP) loan with our organization. Throughout their entire PPP application process, the BBIF team ensured that Marshiray understood each step. She appreciated the time and dedication that the BBIF team showed, helping her to navigate the application process. After successfully receiving the PPP funding in the summer of 2020, Kindred Care was able to meet payroll needs and continue servicing their patients. In addition to the PPP loan, BBIF also provided  Kindred Care with critical grant dollars to aid in the billing company transition. With these funds, Marshiray was able to purchase important supplies, such as personal protection equipment. “Working with BBIF allowed us to keep operating during the troubling times of uncertainty the pandemic brought, and I will forever be thankful for that.” -Marshiray Griffin

ORLANDO, FLORIDA – BBIF is pleased to announce it has been awarded $55 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 five allocations totaling $148.49 million. " We are honored by the CDFI Fund’s support and recognition of our work to provide low-cost, flexible capital and technical assistance to small businesses across Florida ," said Inez Long, CEO. " This significant award will allow us to inject capital and support businesses in communities that continue to be impacted by the pandemic, helping to drive economic stability and growth ." Since its inception in 2001, the NMTC program has awarded more than $65 billion to allocates across the United States. 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 .

NMTC Client Spotlight: Pine Hills Drugs, Pharmacy & Medical Supplies NMTC Loan Pools were created to expand access to capital for small business owners and support economic growth in communities with limited investment. These loan pools provide funding for entrepreneurs to purchase and renovate owner-occupied commercial real estate, helping to strengthen local business districts and drive long-term development. Pine Hills Drugs, Pharmacy & Medical Supplies Pine Hills Drugs,  Pharmacy & Medical Supplies (PHD) stores,  prepares and dispenses medical preparations for general patients in the Greater Orlando Area. The pharmacy devotes a portion of its time to elderly patients, long-term care, and assisted living care facilities.PHD has been supporting many Black and underserved individuals residing in the low-income community of Pine Hills, Florida.  Pine Hills is an unincorporated neighborhood in West Orlando. Since 2011, the City of Orlando has included this area in its Neighborhood Improvement District. The program aims to enhance the neighborhood’s appeal as a family-friendly community while fostering a safe and business-friendly environment that supports long-term growth. Business owner and pharmacist Oscar Mibionwu has owned and operated PHD for the past ten years. Through his time practicing in the Pine Hills Community, Mibionwu has been able to make an impact with PHD’s service, and his vision was to become a pillar within the community. Initially, Mibionwu was operating from leased space. However, he knew that he would have to grow his business to make a more significant impact in his community. That is when he contacted BBIF. BBIF created the NMTC Loan Pool to provide flexible, affordable capital to entrepreneurs in communities with limited access to funding. Through this financing tool, BBIF partnered with Mibionwu to support the purchase and renovation of a larger commercial property in Pine Hills. With an expanded facility, PHD was able to grow its operations and continue delivering essential medical services to the Pine Hills community.  In addition to the NMTC Loan Pool dollars that Mibionwu received, he is also a part of BBIF’s Resilient Grant Program. Through this initiative, business owners receive grant dollars and attend monthly meetings with BBIF’s Managerial Consultants. These meetings are designed to teach business owners strategies to endure business operations during an economic downturn. “BBIF’s team took me in as family. I believe they care about me and this is not limited to just closing a loan. They want me and my business to succeed. Other lenders cannot compare to the wonderful experience I had with BBIF.” - Oscar Mibionwu, Owner & Pharmacist, PHD Pharmacy & Medical Supplies

Orlando, Florida, December 8th, 2021. We are excited to share the news that BBIF was awarded $500,000 from the Community Development Financial Institutions (CDFI) Fund. Financial Assistance Awards from the CDFI Program The CDFI Program supports and strengthens CDFIs that provide financial products and services to communities with limited access to capital. For the FY 2021 CDFI Program round, the CDFI Fund awarded $119.2 million in Base-FA awards to 248 organizations across 40 states, the District of Columbia, and Puerto Rico. Additionally, the CDFI Fund awarded $18.6 million in PPC-FA awards to 125 CDFIs to assist areas facing long-term economic challenges. Learn more about the FA award. This is BBIF’s fifth FA award and will serve as an instrument for continued capacity building and growth for the organization. The funds will be used to capitalize loan pools and provide ongoing technical assistance services to BBIF’s target market of local small businesses. “This injection of capital comes at a pivotal time for many small businesses in Florida,” said Inez Long, BBIF President/CEO. “These funds allow for BBIF to continue providing flexible, patient lending solutions for the small businesses that need it most.” About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com .

BBIF NMTC Spotlight: Super-Pufft Snacks USA, Inc   BBIF supports NMTC projects in areas facing economic challenges, prioritizing job creation, job quality, and job accessibility. These projects are evaluated based on their impact on the local community and alignment with community development priorities. Additionally, projects must demonstrate their ability to enhance the quality of life for current residents. In the rural city of Perry, FL is Super-Pufft Snacks USA, Inc., a manufacturing facility for snack foods and supplies. This US-based facility is a subsidiary of the Canadian snacks corporation, which has been in operation for over 60 years with facilities in 30 different countries. Super-Pufft supplies products for major brands such as ALDI Inc., Wal-Mart, and PepsiCo. The company also manufactures products under its brands and private labels.   Due to the closing of Snyder-Lance, a snack and chip production company, the residents of Perry experienced a devastating loss. The production company closing left 250 people unemployed. This recent spike in unemployment caused a tax burden to be placed on the residents and the community. Many residents began vacating the surrounding area since the community lacked quality employment opportunities.   Super-Pufft aims to provide growth in this rural community. The manufacturing company’s $25 million equipment expansion project will allow the plant to be more efficient and provide a wider variety of products that can be produced. This increase in production is anticipated to provide 500 new full-time jobs over the life of the NMTC compliance period. These jobs directly connect to the Taylor County Economic Development Plan of bringing quality industrial jobs to the county.  Financing for this project was made possible through investments from the federal New Market Tax Credit (NMTC) from BBIF, HSBC as well as Super-Pufft Snacks Corporation.   About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com .

Starbucks invests in BBIF to bring access to capital and promote business resiliency to Black-owned businesses in Miami. In January 2021, Starbucks committed $100 million to launch the Starbucks Community Resilience Fund. The fund is designed to support small business growth and community development projects in areas with limited access to capital, helping to strengthen local economies and promote long-term sustainability. The investments will initially focus on 12 U.S. metropolitan areas and their surrounding regions: Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle and Washington D.C. In partnership with community leaders, Community Development Financial Institutions (CDFIs), and other mission-driven financial institutions, the Fund will provide capital to support small businesses and neighborhood projects, including those focused on addressing the effects of climate change. “These commitments are in addition to the actions we’ve already taken on the realization of our vision to create a more welcoming Starbucks,” said Dennis Brockman, Starbucks executive, in a letter to partners. “We all have a role to contribute and it’s with that purpose in mind that we continue to invest in these areas for all partners. Learning comes by doing, and that’s what we are committed to.” As a recipient of the Fund , BBIF continues to strengthen its partnership with Starbucks in a way that will be meaningful for small businesses in Miami. “Through this Starbucks partnership and investment, BBIF is excited to continue to expand our work and support to small businesses in the Miami metropolitan area,” said Inez Long, President and CEO of BBIF. “Their support will help us as we continue to provide affordable, creative, and flexible capital while impacting job growth and promoting business resiliency.” " This is not our first time partnering with Starbucks to drive positive change, " said Jasmine Gebon, VP of Strategic Initiatives, BBIF. " BBIF was a Create Jobs for USA grantee in 2011. Starbucks’ continued support of BBIF’s mission highlights the vital role CDFIs play in expanding access to capital and strengthening small businesses." About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com . About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 34,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com .

BBIF provided $12 million in New Market Tax Credit (NMTC) financing for a $35.8 million dollar construction project for The AGAPE Network. Black Business Investment Fund (BBIF) closed $12 million in New Markets Tax Credit financing for the Agape Village Health Center. The New Markets Tax Credit (NMTC) financing will support the construction of Agape Network, Inc’s $35.8 million state-of-the-art health center. Founded in 1983, Agape Network, Inc. has been a leader in providing comprehensive healthcare solutions for residents in Miami-Dade County. They specialize in a holistic healthcare approach that supports individuals through behavioral health services, primary care, and transition assistance for individuals and families. The organization’s Re-Entry Program prepares inmates pre-release, providing services to assist inmates’ rehabilitation as they transition back into the community. Additionally, Agape provides primary care services for uninsured individuals, ensuring access to essential healthcare. Through these initiatives, Agape Network helps reduce the strain on South Florida’s criminal justice and healthcare systems. With this new construction project, the number of outpatients served will double from 1,000 to 2,500, and residential inpatient capacity will expand from 62 to 141 beds. The new facility will also offer primary care and behavioral health services to individuals and families across the county, improving access to quality healthcare “ On behalf of the Agape Board of Directors and our South Florida community, we want to give a special thank you to The Black Business Investment Fund (BBIF). Their NMTC partnership has made possible the expansion of our Agape Village Health Center, a National Model of Integrated Health Care and Social Services ,” said Claudio Perez, President & CEO of the Agape Network. “ This expansion will double Agape’s capacity to fulfill its mission of restoring individuals and families to psychological, social, physical, and spiritual health. Thank you BBIF for restoring communities and helping at-risk populations reach their full God-given potential .” The Project will include a 26,516 square foot community health center, eight cottage units of supportive housing, an early childhood educational center, a commercial-grade teaching kitchen for vocational rehabilitation and on-the-job experience in the foodservice industry.“We are thrilled to support the growth and expansion of the Agape village project. The social, healthcare and spiritual services that Agape provides will create opportunities for the most vulnerable communities of the Miami-Dade area,” said Duane Lewis, COO of BBIF. “The NMTC program allows BBIF to invest in impactful programs like AGAPE, with a proven model of uplifting the communities they serve.” Since 2014, BBIF has financed 25 projects and loan pools with its NMTC Allocations creating an economic impact of 292 million. These projects have been able to aid in creating and retaining 2,920 jobs in Florida’s communities. Project Highlights – $35.8 million total project cost – 39,963 square feet of new construction  – 11,687 patients reached annually  – Support patients living below the federal poverty– incomes less than $14,000 a year – 383 jobs created or retained   Financing for this project was made possible through a $12 million New Market Tax Credit (NMTC) from BBIF and the investment from US Bancorp Community Development Corporation. Florida Community Loan Fund supported the project with additional NMTC allocation. About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com .

BBIF Client Spotlight: HCP of Central Florida HCP of Central Florida offers homemaker and companion services to the elderly and adults who require specialized care. Business owner Heidi Peters was introduced to companionship work through her experience working at a local public school when a parent commented on how caring and thoughtful she was when dealing with individuals with limited mobilities. She took that parent’s suggestion and looked further into the Adult Day Health Care (ADHC) field.  After two years of offering at-home services, Heidi decided to open a residential facility. Currently, the HCP team only supports adults, but Heidi is in the process of opening an independent living home for children as well.  While expanding HCP’s business services and facilities, Heidi experienced many challenges. Some of the challenges included: employee burnout and business overhead costs outweighing the profit.  In 2014 Heidi began researching institutions that provided MicroLoans and discovered Black Business Investment Fund (BBIF). When she initially began the lending process many emotions washed over her- fear, intimidation, self-doubt- however, the BBIF team was able to wash all of her worries away. The support BBIF provided helped Heidi feel comfortable through the entire process.  Since HCP of Central Florida’s first loan financed through BBIF, Heidi has fully been immersed into the BBIF ecosystem. Her business has received a Paycheck Protection Program Loan, Grant Funding, and a MicroLoan. Despite the critical access to capital, she received through BBIF, the service that Heidi appreciates most is BBIF’s Managerial Consulting. This FREE service offered to clients allowed Heidi to increase her business acumen, maintain her staff, and grow her business.  “BBIF truly understands the needs of small business owners. I am beyond grateful for their team in making me feel comfortable and like a priority throughout my entire loan process. I will continue to recommend this organization because of the great customer service provided.” – Heidi Peters About BBIF Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A. Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%.  Learn more at   www.BBIF.com .