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BLACK BUSINESS INVESTMENT FUND
Presentation to the Orange County Board of Commissioners
Tuesday – July 12, 2011
BLACK BUSINESS INVESTMENT FUND
Why we are here…
- To request continued and on-going funding support of
Presentation to the Orange County Board of Commissioners Tuesday - - PowerPoint PPT Presentation
Presentation to the Orange County Board of Commissioners Tuesday - - PowerPoint PPT Presentation
BLACK BUSINESS INVESTMENT FUND Presentation to the Orange County Board of Commissioners Tuesday July 12, 2011 Why we are here BLACK BUSINESS INVESTMENT FUND To request continued and on-going funding support of the Micro Loan program
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BLACK BUSINESS INVESTMENT FUND
Who We Are…
- Investment Corporation
Central Florida’s Premier Non-Traditional Lender - specializing in providing loans to minority & small businesses
- Created out of Florida Statue 288.7
(1985 Florida Small and Minority Business Act)
- Regulated
Office of Comptroller of Currency and the Auditor General
- Certified by:
OTTED Black Business Investment Corporation (BBIC) U.S. Department of Treasury Community Development Financial Institution (CDFI) Community Development Enterprise (CDE)
BBIF is an Economic engine for Orange County
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BLACK BUSINESS INVESTMENT FUND
Our Partners
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BLACK BUSINESS INVESTMENT FUND
What We Do…
Access to Capital
Black Business Loan Fund Economic Gardening Loan Fund
Technical Assistance
Orientation One on One Staff Counseling Business Owners Roundtable MLF Roundtable
Networking
Annual Business Networking Event
Business Opportunities
Business Opportunity Functions (Quarterly) Special Community Meetings
Core Services
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BLACK BUSINESS INVESTMENT FUND
Our Approach...
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BLACK BUSINESS INVESTMENT FUND
Access To Capital
distinct loan pools:
The BBIF manages three distinct loan pools:
$8.5 million EGLF loan pool which provides direct loans up to $250,000 to any qualified second stage established business (race neutral) $4 million BBLF loan pool which provides direct loans up to $100,000 to any qualified established Black- owned business $1 million Micro-loan pool which provides loans up to $50,000 to any qualified small and minority-owned business (race neutral)
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BLACK BUSINESS INVESTMENT FUND
directly assisted though the MLF Loan and Roundtable Programs
MLF Quick Notes:
Program launched on October 1, 2010. Several local publications highlighted the launch. A special technical assistance roundtable has been crated for MLF Clients. To date $375,000 in loans have been approved
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BLACK BUSINESS INVESTMENT FUND
BBIF’S MLF IMPACT October 1, 2010 – June 30, 2011
* U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89
$24,953,966
Customer Revenues $10,740,910 Customer Jobs 141 Customer Loans $375,000 Customer Avg. Salaries $29,375
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BLACK BUSINESS INVESTMENT FUND
BBIF’S TOTAL ECONOMIC IMPACT October 1, 2009 – June 30, 2011
* U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89
$360,821,520
Customer Revenues $156,815,940 Customer Jobs 1721 Customer Loans $12,096,782 Customer Avg. Salaries $33,923
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BLACK BUSINESS INVESTMENT FUND
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Client Spotlight
Partial list of MLF Clients:
- ADS Welding
- GPC Maintenance Systems
- NCAC
- CALLINS Investigations
- JBS Engineering
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BLACK BUSINESS INVESTMENT FUND
- BBIF Business Networking Event (annual)
- B.O.S.S. Events (quarterly)
- SBDC Events
- GOAA Events
- FMSDC Events
- UCF Events
- State/OTTED Small Business Events
- BBIC President Meetings
- OCPS Events
- NEC Events
- GrowFL Events
- Regional EDO Events
- Various Chamber Events
The BBIF hosts and participates in several business functions annually
Networking & Opportunity
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BLACK BUSINESS INVESTMENT FUND