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The Black Business Investment Fund (BBIF) is thrilled to announce that we have been awarded $50 million in New Markets Tax Credit (NMTC) allocations from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. This allocation enables us to continue our work in providing capital to support economic development in low-income communities across Florida and Georgia. About the NMTC Program The NMTC Program was established by Congress to drive investment and economic growth in underserved communities. The program allows individual and corporate taxpayers to receive a non-refundable tax credit against federal income taxes in return for making equity investments in financial intermediaries known as Community Development Entities (CDEs). The impact is significant, with the CDFI Fund estimating that for every $1 invested by the federal government, the NMTC Program generates $8 in private investment. BBIF's Focus Areas for NMTC Projects With this new allocation, BBIF will continue to focus on key areas that align with our mission to empower communities through economic development: Community Healthcare : Investing in projects that increase access to quality healthcare services in underserved areas. Small Business : Providing flexible, low-cost capital to support small businesses, particularly those owned by underserved entrepreneurs. Manufacturing : Encouraging the growth of manufacturing businesses that create jobs and drive economic growth in low-income communities. Youth and Education : Supporting educational facilities and programs that provide critical resources to children and youth, fostering long-term community development. BBIF's Ongoing Impact Since our first federal NMTC allocation in the 2014 funding cycle, BBIF has been awarded seven allocations totaling $248 million. This latest award will continue to bolster our efforts to inject capital into communities that need it the most. Our work with NMTC has already led to the development and expansion of numerous projects, such as community healthcare centers and educational facilities. See BBIF's NMTC Work in Action We invite you to learn more about our recent projects which showcases the transformative power of NMTC investments. These initiatives have not only revitalized commercial corridors but have also provided essential services and job opportunities to underserved communities. For more information about BBIF's NMTC projects and to see how these investments are making a difference, please visit our website . About BBIF 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 its inception, BBIF has provided over 1,150 loans totaling $89.7 million and leveraged $625 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 14,700 jobs all while maintaining a loan loss rate of 2.79%. Learn more at   www.BBIF.com .

FOR IMMEDIATE RELEASE Orlando, FL – July 19, 2024  – Following the recent announcement of their appointments as interim co-Chief Executive Officers (co-CEOs) of the Black Business Investment Fund (BBIF), Duane Lewis and Oraine Reid share their vision for the future and reflect on the enduring legacy of the late Inez Long. As BBIF continues its mission, the organization reaffirms its unwavering commitment to economic development and support for diverse entrepreneurs. "It is with profound respect and gratitude that we step into these roles," said Duane Lewis, Interim Co-CEO. " Inez Long was a remarkable leader whose vision and dedication shaped BBIF into the CDFI powerhouse it is today. Her legacy is one of empowering and providing economic resources to underserved communities, and Oraine and I are committed to continuing her vision. Our focus remains on empowering Black, indigenous & people of color (BIPOC) and other underserved entrepreneurs through innovative financial solutions and unwavering support." Oraine Reid, Interim Co-CEO, added, " Working alongside Inez for many years has prepared us to uphold and advance her vision. The strength of BBIF lies in its team, and together, we embody the resilience and determination that Inez instilled in us. We are confident in our ability to navigate this transition and lead BBIF into a future that honors her incredible contributions. The true mark of Inez’s leadership is the thriving organization she left behind, filled with capable and passionate individuals ready to carry the torch." As BBIF moves forward, the organization remains steadfast in its commitment to fostering economic development and supporting diverse entrepreneurs. The co-CEOs assure funders, partners, and the community that BBIF's mission and values are stronger than ever. "We want our stakeholders to know that while the loss of Inez was great, her spirit and drive live on within us and the entire BBIF family," said Duane Lewis. "We are united in our purpose and resilient in our approach, ready to face the challenges ahead and seize new opportunities for growth and impact." Oraine Reid added “Our organization is stronger than ever and will continue to execute on our strategy with precision and passion. We will continue to carry the torch forward, building on the momentum created by Inez. Our leadership team is dedicated, experienced, and committed to continue to drive progress, innovate, and deliver results." For more information about BBIF and its initiatives, please visit our website. Media Contact: Rhema Nnadi Director of Marketing, BBIF Rnnadi@bbif.com

FOR IMMEDIATE RELEASE Orlando, FL – July 2, 2024  – The Black Business Investment Fund (BBIF), announces the appointment of Oraine Reid and Duane Lewis as interim co-Chief Executive Officers (co-CEOs), effective immediately in accordance with the board's succession plan. This decision follows the recent passing of our esteemed president and CEO, Inez Long, whose legacy of over 30 years of community advocacy and impact will continue to inspire our work. The Board of Directors, led by Chair Jacqueline Barr, made this strategic decision to ensure continued leadership and organizational stability during this transitional period. BBIF has a long history of empowering communities through innovative financial solutions, strategic partnerships, and a commitment to economic development. As BBIF continues its mission to foster inclusive growth and support diverse entrepreneurs, the appointment of interim co-CEOs represents a significant step in maintaining momentum and driving forward the organization's strategic objectives. "With the appointment of Oraine Reid and Duane Lewis our interim Co-CEOs, we are proud to highlight the depth and talent within our organization. Both have been instrumental in our growth and strategic planning, working closely alongside our late CEO. Together, they bring over 30 years of combined industry experience and embody the vision and legacy of our beloved late CEO. The appointment from within is a testament to the strength and continuity of our leadership team,” said Jaqueline Barr, Chair of the Board. "Their combined expertise in financial management, strategic planning, and community engagement will be instrumental in guiding BBIF through this transitional period. We are confident that their leadership will continue to enhance our impact and support the economic vitality of the communities we serve. Despite our sadness over the loss of Inez, the organization is in great hands and ready to continue her legacy of community impact." About Oraine Reid Oraine Reid, Vice President of Finance at BBIF, has been a dedicated member of the team since 2009. With a Bachelor's and an MBA in accounting, Oraine brings over 18 years of experience in accounting and lending, including more than 15 years in the CDFI sector. His expertise has been pivotal in overseeing BBIF’s financial operations, ensuring robust internal controls, and offering strategic financial guidance. In his leadership role, Oraine manages the New Market Tax Credit division, where his proficiency in funding and compliance has been key to the division's success. Oraine's journey with BBIF began as a loan officer during the organization’s statewide expansion, where he helped facilitate over $80 million in loans and provided invaluable business counseling. Prior to BBIF, he gained significant experience with the New York City Department of Finance and Phipps Houses Services, Inc. Beyond his professional achievements, Oraine has served on the board of “Unity in Uniform,” supporting minority youth through education and mentorship. His comprehensive knowledge and dedication to financial integrity ensure that BBIF remains a trusted partner for investors and funders alike. About Duane Lewis Duane Lewis is the Chief Operating Officer at BBIF, where he leads internal operations and provides strategic leadership to ensure the organization fulfills its mission of providing flexible, affordable, and responsible financing, management consulting, and technical assistance to Black, minority, and underserved businesses. With a distinguished career in financial management, Duane has previously served as Chief Financial Officer for a private contracting company, overseeing all financial operations and developing strategies to minimize financial risk. He brings extensive experience in credit analysis and has worked with a variety of loan products, including structuring B&I and Commercial Real Estate lending transactions, and New Markets Tax Credits Financing. Duane's commitment to economic development is reflected in his service on the boards of the City of Orlando’s Minority Enterprise Business Assistance Program and the City of Kissimmee’s Black Business Council. Certified by the National Development Council as an Economic Development Professional, Duane holds a Bachelor of Commerce with honors in Business Administration and Economics from the University of Windsor. His strategic vision and operational acumen make him a pivotal figure in driving BBIF’s mission forward. Under the interim co-CEOs' leadership, BBIF will continue to focus on its core initiatives, including: Capital Access : Increasing the availability of loans and investments to underserved communities, fostering economic resilience. Financial Literacy and Education : Expanding access to financial literacy resources and educational programs for minority entrepreneurs. Technical Assistance : Providing tailored support and mentorship to help businesses navigate challenges and achieve sustainable growth. BBIF remains committed to its mission of driving economic development and supporting diverse entrepreneurs across Florida and beyond. The organization will continue to work closely with partners, stakeholders and the community to build a more inclusive and equitable economic landscape. For more information about BBIF and its initiatives, please visit our website. Media Contact: Rhema Nnadi Director of Marketing, BBIF Rnnadi@bbif.com

It is with profound sadness that we share the news of the sudden passing of our President and CEO, Inez Long.  She passed away suddenly on June 29, 2024.  Inez was a visionary leader who dedicated her life to the growth and success of BBIF. She led with passion, integrity, and a steadfast commitment to innovation and excellence. Under her leadership for over 30 years, BBIF has achieved numerous milestones and expanded its impact across the industry. "Our hearts are heavy with the loss of Inez, our beloved Madame President," said BBIF Board Chair Jacqueline Barr.  "We are grateful for her extraordinary contributions and leadership. Our thoughts and prayers are with her family during this difficult time." The Board of Directors will appoint an interim CEO to ensure a smooth transition and maintain the company’s operations without interruption. Further details will be shared in the coming days. We ask for respect and privacy for Inez’s family as they navigate this tragic loss.  Our offices are closed today, Monday July 1st. During this adjustment period, our team may have limited accessibility. We appreciate your understanding and patience as we manage through this transition. Thank you for your understanding and support during this difficult time. - The BBIF Team

Celebrating a Partnership that Empowers Communities In the ever-evolving landscape of community development and financial assistance, partnerships that foster growth and offer support to underserved communities are invaluable. Today, we shine our partner spotlight on an exemplary collaboration between Truist and the Black Business Investment Fund (BBIF), showcasing a journey of dedication, support, and impactful results. Truist: A Pillar of Support Since Inception Truist, a major U.S. commercial bank with a profound commitment to building better lives and communities, has been a steadfast supporter of BBIF since its inception. The corporation has provided grants that are critical in establishing lending funds, educational resources, and training services tailored for underserved small businesses across Florida. The Truist Foundation, renowned for its mission to support nonprofit organizations in their initiatives to enhance economic mobility, plays a crucial role in BBIF's efforts to reach small businesses lacking access to traditional lending markets. You can learn more about the foundation's work and principles at their website. Guiding our Collaborative Success: Tammy Paycer At the helm of this partnership from Truist's side is Tammy Paycer, Senior Vice President and Regional Community Development Manager for Central and North Florida. Paycer has been with Truist (previously SunTrust) since 1998, taking on her current role in 2015 where she oversees the implementation and execution of Community Reinvestment Act (CRA) strategies and community development engagement activities. A veteran in the banking industry since 1994, Paycer's vast experience and passion for community work shine through her involvement with multiple community boards and committees, including the Florida Housing Coalition Advisory Council and the Black Business Investment Fund Community Development Committee. As a key figure in fostering the partnership between Truist and BBIF, Paycer provides deep insights into the strategic importance of this alliance. Below, she answers several questions that illuminate the nature of Truist's commitment and the envisioned impacts of their collaborative efforts. Q&A with Tammy Paycer What does investing with BBIF mean to you? Paycer: Truist has supported BBIF since the organization’s inception and it has been a privilege to provide Truist Foundation and Truist Charitable Fund grants that help expand BBIF’s work to establish lending funds, educational resources, and training services for underserved small businesses across Florida. What motivates you to invest in BBIF? Paycer: BBIF shares our vision to support underserved communities and is the leading Community Development Financial Institution (CDFI) in Florida with a proven track record of helping diverse-owned small businesses for over 30 years. What outcomes/impact do you hope to see from your investment in BBIF? Paycer: We hope our investment helps expand BBIF’s support and services to small businesses that haven’t had access to the traditional lending market in the past. Why was it important for Truist to invest in financial literacy education (with BBIF)? Paycer: At Truist, our purpose is to inspire and build better lives and communities and one of the ways we do this is by supporting community organizations that provide small businesses access to guidance and tools through financial education programs and initiatives. A Future Built on Shared Values The partnership between Truist and BBIF is more than just financial; it's a shared commitment to empower and uplift, ensuring that small businesses not only survive but thrive. This collaboration stands as a beacon of hope and a testament to the power of united visions in creating substantial, lasting impact in the community. About BBIF 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 its inception, BBIF has provided over 1,100 loans totaling $99.4 million and leveraged $449 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 14,700 jobs all while maintaining a loan loss rate of 2.79%. Learn more at www.BBIF.com.

ORLANDO, FL – BBIF is incredibly grateful to have been selected by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to receive an award of $560,000! We were among 252 Community Development Financial Institutions (CDFIs) to receive $194.1 million in Financial Assistance (FA) awards. This generous contribution will help us to substantially increase our lending and investment activities in disadvantaged and distressed neighborhoods and communities. “This investment from the Fund allows for BBIF to continue its intentional work of funding and developing BIPOC businesses in our region,” said Inez Long, BBIF President/CEO. “With this injection of equity, BBIF’s capacity is enhanced — providing greater access to patient and flexible capital, creating jobs, and empowering underserved communities throughout Florida.” CDFIs can apply for Financial Assistance (Base-FA) awards of up to $1 million, which can be used for lending capital, loan loss reserves, capital reserves, financial services, and development services. To qualify for Base-FA funding, CDFIs must match the award with funds from a non-federal source in order to sustain and expand their financial products and services. These awards must also help achieve at least one of the FA objectives: Increase volume of products or services Provide new products or services Expand operations into new geographic areas Service new targeted populations To view the FY 2022 CDFI Program award book, click here. About BBIF 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 CDFI Fund Since its creation in 1994, the CDFI Fund has awarded nearly $5.7 billion to CDFIs, community development organizations, and financial institutions through: the Bank Enterprise Award Program; the Capital Magnet Fund; the CDFI Rapid Response Program; the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Economic Mobility Corps; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $71 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds for more than $2.1 billion through the CDFI Bond Guarantee Program. To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at www.cdfifund.gov.

BBIF is honored to be one of twelve Community Development Financial Institutions announcing the creation of the Veteran Loan Fund, with Bank of America as the lead capital investor. The Veteran Loan Fund aims to fill the financial and training gap that underserved veterans face when building a small business. This fund includes a network of veteran service organizations focused on technical assistance and formal business coaching coupled with a network of twelve specialized capital providers, Community Development Financial Institutions (CDFIs). Eligible Veterans benefit from free business coaching and loans with interest rates of 10% or less. “The Veteran Loan Fund will help BBIF as it continues its mission to provide access to flexible and affordable capital and technical assistance to veteran entrepreneurs. We are excited to deepen our commitment to Black & minority veterans whose sacrifices helped make our great nation what it is today, and supporting them in their pursuit of the American dream.” Duane Lewis COO of BBIF It has been demonstrated that veterans returning to civil life, have a high preference for independence and entrepreneurship but lack access to capital, formal business training and a network of peers. The Veteran Collaborative, now rebranded Veteran Loan Fund, was born in 2017 as an effort to consolidate best business practices to engage with and support veteran entrepreneurs. “The flow of capital has a significant role to play in advancing opportunities for veterans,” said Dan Letendre, CDFI Lending and Investing executive at Bank of America. “By investing in the Veteran Loan Fund, we can help bring untapped potential among our local veteran entrepreneurs to the forefront and help to drive innovation, expanding job growth and creating generational wealth across our communities.” Specialized technical assistance partners include Bunker Labs, Vet Met, Vet to CEO, as well as local partnerships with Veteran Business Outreach Centers, SCORE and SBDCs. The full list of member CDFI’s of this nationwide collaboration are, Access to Capital For Entrepreneurs (GA), Black Business Investment Fund (FL), Business Impact Northwest (WA, OR), Colorado Enterprise Fund (CO), Dream Spring (NM), Economic and Community Development Institute (OH), Pathway Lending (TN, AL, KY), PeopleFund – managing member (TX), Pursuit – formerly Excelsior Growth Fund (NJ, NY, PA), Wisconsin Women Business Initiative Corporation (WI). The Veteran Loan Fund’s first $15 million round is made possible by a $5 million commitment of long-term, below-market-rate lending capital from Bank of America as the lead investor, along with historic support from other major institutions in the form of loan capital and grants. The fund plans to grow to $100 million within five years, an amount equal to the estimated annual demand for capital from Veteran entrepreneurs that do not receive any kind of funding. For more information about The Veteran Loan Fund please visit us at: https://www.vet.loan/join-us/. About BBIF 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 our inception, BBIF has provided over $62 million in loans to more than 800 businesses and leveraged $292 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 17,800 jobs, all while maintaining a historical loan loss rate of 4%. Learn more at BBIF.com. Bank of America At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

Starbucks invests in BBIF to bring access to capital and promote business resiliency to Black-owned businesses in Miami. In January 2021, Starbucks committed to investing $100 million to launch the Starbucks Community Resilience Fund. The Fund aims to advance racial equity and environmental resilience by supporting small business growth and community development projects in Black, Indigenous and People of Color (BIPOC) communities with historically limited access to capital. The investments will initially focus on 12 U.S. metropolitan areas and their surrounding regions: Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle and Washington D.C. In partnership with community leaders, Community Development Finance Institutions (CDFIs) and other impact-focused financial institutions, the Fund will help provide access to capital intended to support small businesses and neighborhood projects, including those addressing the inequitable impacts of climate change. “These commitments are in addition to the actions we’ve already taken on the realization of our vision to create an inclusive Starbucks,” said Dennis Brockman, Starbucks chief global inclusion and diversity officer, in a letter to partners. “We all have a role to contribute and it’s with that purpose in mind that we continue to invest in these areas for all partners. Learning comes by doing, and that’s what we are committed to.” As a recipient of the Fund, BBIF continues to strengthen its partnership with Starbucks in a way that will be meaningful for Black Businesses in Miami. “Through this Starbucks partnership and investment, Black Business Investment Fund is excited to continue to expand our work and support to Black businesses in the Miami metropolitan area,” said Inez Long, President and CEO of BBIF. “Their support will help us as we continue to provide affordable, creative, and flexible capital while impacting job growth and promoting business resiliency.” “This is not our first time engaging with Starbucks to create change in our community,” said Jasmine Gebon, VP of Strategic Initiatives, BBIF. “BBIF was a Create Jobs for USA grantee in 2011. Having Starbucks’ continued support of BBIF’s intentional work and unique mission underscores the critical importance of CDFIs, particularly in BIPOC communities.” About BBIF 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 our inception, BBIF has provided over $62 million in loans to more than 800 businesses and leveraged $292 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 17,800 jobs, all while maintaining a historical loan loss rate of 4%. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 34,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com.

Orlando, Florida, December 8th, 2021. We are excited to share the news that BBIF was awarded $500,000 from the Community Development Financial Institutions (CDFI) Fund. Financial Assistance Awards from the CDFI Program The CDFI Program invests in and builds the capacity of CDFIs that serve low-income people and underserved communities lacking adequate access to affordable financial products and services. For the FY 2021 CDFI Program round, the CDFI Fund awarded $119.2 million in Base-FA awards to 248 organizations in 40 states, the District of Columbia, and Puerto Rico. The CDFI Fund also awarded $18.6 million in PPC-FA awards to 125 CDFIs specifically to serve Persistent Poverty. Learn more about the FA award. This is BBIF’s fifth FA award and will serve as an instrument for continued capacity building and growth for the organization. The funds will be used to capitalize loan pools and provide ongoing technical assistance services to BBIF’s target market of Black, minority, and underserved small businesses. “This injection of capital comes at a pivotal time for many Black, minority, and underserved small businesses in Florida,” said Inez Long, BBIF President/CEO. “These funds allow for BBIF to continue providing flexible, patient lending solutions for the small businesses that need it most.” About BBIF 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 our inception, BBIF has provided over $62 million in loans to more than 800 businesses and leveraged $292 million in New Markets Tax Credit (NMTC) community investments. BBIF’s investments have helped to create/sustain over 17,800 jobs, all while maintaining a historical loan loss rate of 4%.

ORLANDO, FLORIDA – The Black Business Investment Fund of Central Florida (BBIF) is pleased to announce it has been awarded $55 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. Since receiving its first federal NMTC allocation in the 2014 funding cycle, BBIF has been awarded five allocations totaling $148.49 million. “We are honored by the CDFI Fund’s support and recognition of our work to provide low-cost, flexible capital and technical assistance training to Black, minority and other underserved businesses in Florida, said Inez Long, CEO. This significant award will enable us to inject capital and help stabilize minority and underserved communities in our state that continue to be impacted by the pandemic. Since its inception in 2001, the NMTC program has awarded more than $65 billion to allocatees across the United States. About BBIF Florida BBIF is a Minority controlled nonprofit CDFI with a primary mission of providing capital to support small-to-medium sized businesses as a means of providing economic opportunity within low-income communities. Utilizing its new allocation, BBIF will provide loan pools and leverage capital – placing emphasis on businesses acquiring/renovating commercial real estate, creating quality jobs, access to healthcare, education, and healthy food. In addition to providing simplified capital solutions, BBIF assists business clients by providing financial technical assistance services, by way of an intensive management capacity training program. This program helps business owners to successfully manage and meet their business challenges, maximize profits and create/retain jobs. BBIF is certified by the U.S. Department of the Treasury CDFI Fund as a Community Development Financial Institution (CDFI), Community Development Enterprise (CDE). BBIF is also certified by the U.S. Small Business Administration (SBA) as a Community Advantage Lender and Micro Loan Lender, by the Federal Deposit Insurance Corporation (FDIC) as a Money Smart Small Business collaborator and is a member of the prestigious Opportunity Finance Network (OFN), a national membership group of CDFIs. BBIF is an equal opportunity provider.

BBIF is excited to be a participating lender for the Southern Opportunity and Resilience (SOAR) Fund, a new program aimed at providing small businesses and nonprofits across the South affordable capital and critical business support at a time when they need it the most. With the SOAR Fund, BBIF will further its mission to serve the historically unbanked community, including Black, minority, and other underserved businesses. The SOAR Fund, which will launch once the federal Paycheck Protection Program closes, will provide loans of up to $100,000 to eligible small businesses and nonprofits with fewer than 50 full-time employees. Small business owners and nonprofits who need support can visit the website and pre-register. Access the full press release to learn more. About BBIF BBIF is a mission-driven lender and business development organization that helps communities thrive by providing loan capital for African Americans, other minorities, and underserved businesses by creating opportunities for low-income communities through real estate investments. Headquartered in Orlando, FL, BBIF is Florida’s largest statewide small business lender that specializes in providing capital for minority and underserved businesses. Since 1988, BBIF has provided over $49.8 million in loans to more than 451 businesses, been awarded $93.49 million in New Markets Tax Credit (NMTC) allocation, and leveraged an additional $135.19 million in New Markets Tax Credit (NMTC) community investments. BBIF is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) Fund, Community Development Enterprise (CDE), and New Markets Tax Credit Allocation. BBIF is certified by the U.S. Small Business Administration (SBA) as a Community Advantage Lender and Micro Loan Lender, the State of Florida as a Black Business Investment Corporation, by the Federal Deposit Insurance Corporation (FDIC) as a Money Smart Small Business Collaborator, by the U.S. Department of Transportation as a Short Term Lender and is a member of the prestigious Opportunity Finance Network (OFN), a national membership group of CDFIs. BBIF is an equal opportunity provider. In addition to providing simplified capital solutions, BBIF assists business clients by providing financial technical assistance services. An intensive management capacity training service, the Financial Technical Assistance Program helps business owners to successfully manage and meet their business challenges, maximizing profits and creating/retaining jobs. The entrepreneurial spirit of our clients drives our passion for the work we do, breaking down barriers and strengthening businesses in the markets we serve. For more information, visit https://bbif.com/ About the SOAR Fund The Southern Opportunity and Resilience Fund (SOAR) provides access to flexible, affordable capital and free business support services to small businesses and nonprofits through trusted community-based organizations. These organizations have decades of experience supporting historically under-resourced small businesses, including those in low-income and rural communities and owned by women and people of color. SOAR is a collaborative partnership of local and national community finance organizations created to address the needs of historically disenfranchised communities as they navigate and rebuild from the COVID-19 crisis. SOAR includes leaders from across sectors including local community lenders, national and state-based nonprofit organizations, corporations, philanthropic donors, and investors – all who are passionate about an equitable recovery across the region. ###

‘Segregated by Design’ video highlights the systematic restrictions for black populations access to home equity It is unfortunate to think that many of the injustices that black communities face, stems from policies enacted by the Federal government. Watching this video, you can see the laws that the federal, and local governments established in order to restrict black populations from receiving equitable treatment in America. This video does an incredible job of displaying how beneficial CDFI’s, like BBIF, are for uplifting black and low-income communities.