CLIENT SPOTLIGHT
Kingdom Communications
Orlando Communications Company Receives Business Loan for Commercial Real Estate Acquisition
Joseph & Phylisa Dever of Kingdom Communications, LLC operated from their home office for over ten years. They were passionate about expanding their business and moved into a commercial office rental.
DEMOGRAPHIC
Black-Owned
LOCATION
Orlando, FL
LOAN PROGRAM
Paycheck Protection Program
THE CHALLENGE
Lack of Support for Necessary Funds
Just a few years into their new space, their landlord offered to sell them the property. Acquiring the property meant obtaining a loan of $340,000. Unfortunately, they could not get approved for a loan from a traditional bank due to overextended credit.
On top of that, the rise of the COVID-19 pandemic has uncovered a number of economic inequalities for Kingdom Communications. Phylisa had to go through financial obstacles like not getting her employees’ payroll in on time. She made it her mission to explore every avenue available to support her employees during these challenging times.
THE SOLUTION
PPP Loan and Real Estate Guidance
The Devers reached out to BBIF for help and support. Despite it being the holiday season, along with the existing struggles of the pandemic, BBIF was able to guide Phylisa and Joseph to become commercial real estate owners.
The team also helped the Devers complete their PPP loan application, which allowed them to meet payroll requirements and save five staff positions.
Thanks to BBIF Florida for their support, training, and capital. Owning our building has transformed the way we do business and gives us the opportunity to expand and grow our company.
Phylisa Dever
Co-owner of Kingdom Communications
THE IMPACT
From Struggling To Commercial Real Estate Ownership
The Devers were able to overcome the difficulties brought on by the pandemic.
The collaboration resulted in Kingdom Communications not only keeping their business and team afloat during the Covid-19, but also realizing their aspirations of becoming commercial real estate owners. BBIF’s invaluable support was instrumental in propelling the Devers towards a stable and thriving business that continues to grow.
