JACKSONVILLE, FL (April 19, 2023) – BBIF is proud to announce that it has been awarded Top Micro-Lender by the U.S. Small Business Administration’s (SBA) North Florida District Office for Fiscal Year 2022. This recognition reaffirms BBIF’s dedication to empowering entrepreneurs and helping them achieve their goals.
“We know that access to capital can make all the difference for small businesses,” said Duane Lewis, COO at BBIF. “We are honored to receive this recognition from the SBA and remain committed to providing access to affordable loans and resources to help entrepreneurs in Florida grow and thrive.”
The SBA’s Microloan Program provides small loans of up to $50,000 to help small businesses and nonprofit organizations start or expand. Through the program, BBIF has helped countless entrepreneurs and small business owners achieve their dreams.
BBIF will be recognized at the 2023 Annual Small Business Week & Lender Awards Celebration (hosted by the Small Business Development Center at the University of North Florida) on May 5, 2023.
Created in 1987, BBIF’s mission is to develop and promote Black business enterprises through education, training, loans, investments, and other activities and to aggressively promote an atmosphere conducive to their development. A mission-driven lender, BBIF helps communities and businesses thrive by providing loan capital and specialized financial technical assistance services. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury, Community Advantage and Micro Loan lender as certified by U.S. Small Business Administration, Money Smart for Small Business collaborator certified by the Federal Deposit Insurance Corporation (FDIC) and is AERIS rated triple star, A-minus. Since inception, BBIF has provided over 1,100 loans totaling $86.8 million and leveraged $378 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 14,000 jobs all while maintaining a historical loan loss rate of 3.5%. Learn more at www.BBIF.com.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov