CLIENT SPOTLIGHT
Construct Two Group
BBIF and Fifth Third Bank Create Loan Pool for Underserved Businesses
Construct Two Group is a privately owned, Florida-based development and construction company. Mr. Wallace, the company’s owner, is creating, sustaining, and transforming the future through innovative approaches to private-public partnerships and unique developments.
DEMOGRAPHIC
Black-Owned
LOCATION
Orlando, FL
LOAN PROGRAM
THE CHALLENGE
Large Loan Needed to Build a New Headquarters
The African-American-owned construction company has an impressive 35+ year track record in the construction industry.
Mr. Wallace has a passion for the community, demonstrated by a long history of service. Derrick was born and raised in Washington Shores, a small urban neighborhood in Orlando. Derrick wanted to realize a long-term dream of building his company headquarters in the heart of his community. To do so, he needed proper financial capital to see his vision through.
THE SOLUTION
Loan Pool Organized with Fifth Third Bank
BBIF Florida and Fifth Third Bank have a history of working together to help black and minority-owned businesses grow. The organizations partnered to create a New Markets Tax Credits loan pool, through which $2 million was invested in two Orlando communities: Pine Hills and Washington Shores. This investment is part of a strategic effort to revitalize Orlando’s underserved communities and businesses, like Construct Two Group.
With the help of BBIF, Mr. Wallace was able to get the help he needed to successfully build his new company headquarters in the heart of his community.
I want to be a beacon of hope to the entrepreneurs, as well as bring opportunity and training to the local community.
Derrick Wallace
Chairman of Construct Two Group
THE IMPACT
Creating Change and Opportunity for The Youth and Local Entrepreneurs
Through this investment, not only did BBIF contribute to Derrick’s goal but was also able to support his mission to inspire the next generation and have local entrepreneurs invest back in their communities.
This type of investment is critical in creating change and opportunity, new jobs, and hiring and training people from the community. It is also part of a strategic effort to revitalize Orlando’s underserved communities.
