Organizational Overview
ORGANIZATIONAL BACKGROUND INFORMATION: BBIF Florida is an Community Development Financial Institution (CDFI), private non- profit loan fund that specializes in providing loans and financial technical assistance services to Black, minority and underserved small businesses throughout Florida. • Created out of Florida Statue 288.7 ; part of the 1985 Florida Small and Minority Business Act. The organization is Certified as a Black Business Investment Corporation (BBIC) by the State of Florida.
Our Approach…
OUR HOLISTIC APPROACH
What we do…
Core Services ACCESS SS TO FINANIC NICAL L TECHNIC NICAL L B A ASSIS ISTANCE NCE SERVICE ICES CAP CAPIT ITAL AL
ACCESS TO CAPITAL A BBIF administers five distinct loan funds.
ACCESS TO CAPITAL A Use of Funds: Business line of credit Contract financing Accounts receivable financing Working Capital Equipment
ACCESS TO CAPITAL A Underwriting/Loan Considerations: The BBIF considers the following 6 C’s of Credit as a means to prudent lending: • Character Analysis: Are the owners and all key employees of sound character? What are the personal and business credit histories? • Capacity: Does the applicant generate enough cash flow to make current and proposed loan payments? Does the management team have the experience to successfully run the business? • Capital: Do key owners have adequate money invested in the business? • Collateral: Does the applicant have sufficient business and/ or personal assets to contribute? • Conditions: What are the economic factors/ conditions that drive and have an effect on the business? • Commitment: Do the owners have the will to succeed and/ or have they exhibited past successful experiences to base future expectations?
FINANICIAL TECHNICAL B ASSISTACE SERVICES Financial Technical Assistance Program • Business Owners Roundtable – Intense management capacity training – Baseline Assessment – GAP Analysis – Action Plan • Roundtables are facilitated in two ways: One-on-One Format Group Format – CPA – Business Strategist – Loan Officer – Technical Assistance Officer – Other: Marketing, Legal and Management Consultants • One on One Counseling • Orientations Signature Events • Business Networking Event (BBQ) • Business Opportunity Symposium Series (BOSS Events) • Haram bee Celebration • Central Florida Black Business Day
Thank You! Lamont Jackson Business Technical Assistance & Training Officer Capital Plaza Two 301 East Pine Street, Suite 175 Orlando, FL 32801 P: 407.649.4780 F:407.648.8688 Web: www.bbifflorida.com
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