What is BBIF Florida?
BBIF Florida operates as a vital Community Development Financial Institution (CDFI) and Community Development Enterprise (CDE), headquartered in Orlando. The organization specializes in providing crucial loan capital and business development services to African Americans, other minorities, and underserved businesses. Its mission is to create opportunities through real estate investments and direct lending, thereby strengthening low-income communities. BBIF Florida is recognized as Florida's largest statewide small business lender focused on minority and underserved enterprises. Since its inception, it has facilitated over $49.8 million in loans to more than 451 businesses and leveraged $135.19 million in New Markets Tax Credit (NMTC) community investments. The organization also holds certifications from the U.S. Small Business Administration (SBA) as an Intermediary Lender and Micro Loan Lender, and is a member of the Opportunity Finance Network (OFN) and the Association for Enterprise Opportunity (AEO). Beyond capital provision, BBIF Florida offers intensive financial technical assistance through its Financial Training Academy to help business owners maximize profits and create/retain jobs.
How much funding has BBIF Florida raised?
BBIF Florida has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in BBIF Florida
PPP
Public-Private Partnership
What's next for BBIF Florida?
With the recent strategic investment and its classification within large-scale late-stage funding, BBIF Florida is poised for significant expansion. This capital will likely be deployed to broaden its lending reach, enhance its technical assistance programs, and potentially explore new geographic markets or service offerings within Florida. The organization's focus on mission-driven lending and its established network of partnerships with entities like the SBA and CDFI Fund suggest a continued commitment to its core objective: empowering minority and underserved businesses. Future growth may involve increased leverage of NMTCs and further development of its intermediary lending capabilities to address persistent capital gaps in the communities it serves.
See full BBIF Florida company page
