1 / 13

Presentation to the Orange County Board of Commissioners

Presentation to the Orange County Board of Commissioners. Tuesday - June 7, 2011. 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. Who We Are…. Investment Corporation

horace
Download Presentation

Presentation to the Orange County Board of Commissioners

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Presentation to the Orange County Board of Commissioners Tuesday - June 7, 2011

  2. 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.

  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 Micro Loan Fund Technical Assistance Orientation One on One Staff Counseling Business Owners Roundtable Micro Loan Fund 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 – May 31, 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 – May 31, 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 support 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

More Related