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BLACK BUSINESS INVESTMENT FUND Presentation to the Orange County Board of Commissioners Tuesday -...
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BLACK BUSINESS INVESTMENT FUND Presentation to the Orange County Board of Commissioners Tuesday - June 7, 2011
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Transcript of BLACK BUSINESS INVESTMENT FUND Presentation to the Orange County Board of Commissioners Tuesday -...
BLACK BUSINESS INVESTMENT FUND
Presentation to the Orange County Board of Commissioners
Tuesday - June 7, 2011
BLACK BUSINESS INVESTMENT FUND
Why we are here…
• Following up Commissioner Moore-Russell’s request to provide the entire County Commission an update about the newly implemented Micro Loan Fund.
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
BLACK BUSINESS INVESTMENT FUND
Our Partners
BLACK BUSINESS INVESTMENT FUND
What We Do…
Access to CapitalBlack Business Loan FundEconomic Gardening Loan FundMicro Loan Fund
Technical AssistanceOrientationOne on One Staff CounselingBusiness Owners RoundtableMicro Loan Fund Roundtable
NetworkingAnnual Business Networking Event
Business OpportunitiesBusiness Opportunity Functions (Quarterly)Special Community Meetings
Core Services
BLACK BUSINESS INVESTMENT FUND
Our Approach...
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)
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
BLACK BUSINESS INVESTMENT FUND
BBIF’S MLF IMPACT October 1, 2010 – May 31, 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
BLACK BUSINESS INVESTMENT FUND
BBIF’S TOTAL ECONOMIC IMPACT October 1, 2009 – May 31, 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
BLACK BUSINESS INVESTMENT FUND
RL
Client Spotlight
Partial list of MLF Clients:-ADS Welding
-GPC Maintenance Systems
-NCAC
-CALLINS Investigations
-JBS Engineering
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
BLACK BUSINESS INVESTMENT FUND
We ask for your continued support of our organization and Orange County’s business community…
Thank You!
BBIF Central Florida301 E Pine Street, Suite 175
Orlando, FL 32801P: 407.649.4780F: 407.648.8688
