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Presentation to the Orange County Board of Commissioners

Presentation to the Orange County Board of Commissioners. Tuesday – July 12, 2011. Why we are here…. To request continued and on-going funding support of the Micro Loan program from Orange County. Who We Are…. Investment Corporation

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Presentation to the Orange County Board of Commissioners

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  1. Presentation to the Orange County Board of Commissioners Tuesday – July 12, 2011

  2. Why we are here… • To request continued and on-going funding support of the Micro Loan program from Orange County

  3. 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

  4. Our Partners

  5. What We Do… Core Services 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

  6. Our Approach...

  7. 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)

  8. MLF Quick Notes: directly assisted though the MLF Loan and Roundtable Programs 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

  9. BBIF’S MLF IMPACT October 1, 2010 – June 30, 2011 $24,953,966 Customer Revenues $10,740,910 Customer Jobs 141 Customer Avg. Salaries $29,375 Customer Loans $375,000 * U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89

  10. BBIF’S TOTAL ECONOMIC IMPACT October 1, 2009 – June 30, 2011 $360,821,520 Customer Revenues $156,815,940 Customer Jobs 1721 Customer Avg. Salaries $33,923 Customer Loans $12,096,782 * U.S. DOC Regional Industrial Multiplier 1:1.6767 * MCP @ UCF 1/1.89

  11. Client Spotlight RL • Partial list of MLF Clients: • -ADS Welding • GPC Maintenance Systems • NCAC • CALLINS Investigations • JBS Engineering

  12. Networking & Opportunity The BBIF hosts and participates in several business functions annually • 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

  13. We ask for your continued & on-going funding support for the Micro Loan Program and of our organization and Orange County’s business community… Thank You! BBIF Central Florida 301 E Pine Street, Suite 175 Orlando, FL 32801 P: 407.649.4780 F: 407.648.8688

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