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BOARD AND PARTNERS PLANNING SESSION
August 12, 2013
Organizational Update
Presentation to: Orange County BCC
Presentation by: Inez LongBBIF President/CEO
Tuesday, January 28, 2014
BOARD AND PARTNERS PLANNING SESSION
Why we are here:
1. Provide an organizational impact update
2. Ask for continued grant support of our Micro program: $75,000
BOARD AND PARTNERS PLANNING SESSION
About BBIF Florida
•Created out of Florida Statue 288.7; part of the 1985 Florida Small and Minority Business Act
• Organization is an Investment Corporation; Florida’s Premier Non-Traditional Lender - specializing in providing loans to minority & underserved small businesses
•Certified as a Community Development Financial Institution (CDFI) and Community Development Enterprise (CDE) by the U.S. Department of the Treasury
•Certified as a Black Business Investment Corporation (BBIC) by the State of Florida
•Certified by the U.S. Small Business Administration as Florida’s only Community Advantage Lender
•Investor Memberships are Regulated by the Office of the Comptroller of the Currency and the Florida Auditor General
BOARD AND PARTNERS PLANNING SESSION
BBIF Florida Historical Impact as of 9/30/13
BOARD AND PARTNERS PLANNING SESSION
Core Services
BOARD AND PARTNERS PLANNING SESSION
Our Updated Impact: Jan. 1 – Dec. 31, 2013
Micro Loan FundNumber of MLF Clients: 10
Approved MLF Dollars: $330,000
Other Loan FundsLoan Clients: 36
Approved Loan Dollars: $1.5MM+
Financial Training AcademyTotal Financial Technical Assistance and Outreach Impact: 133
events, 3,694 attendees
BOARD AND PARTNERS PLANNING SESSION
Continued Need for Orange County Businesses…
Several pervasive economic impediments for minority communities (defined by their census tracts) in the Orlando MSA.
• Minorities’ choice of residence is severely limited by lower incomes and credit ratings which relegate far too many Blacks and Hispanics to a shrinking stock of aged, small, or dilapidated homes and rentals zoned for substandard schools in high-crime neighborhoods.
Study: The Economic Plight Confronting Orange County, Florida’s Black and Hispanic Neighborhoods
Mark D. Soskin, Assoc. Prof. of Economics, College of Business, UCF
July, 2013
BOARD AND PARTNERS PLANNING SESSION
Black (blue) and Hispanic (green) Census Tracts in Orange County
BOARD AND PARTNERS PLANNING SESSION
Continued Need for Orange County Businesses…
Since 1991, the Kaiser Foundation has served as a trusted source of information for policymakers, leaders from business, academia and non-profit institutions.
State Health Facts: Poverty by Race/Ethnicity
• 36% of Black Floridians live in poverty
Source of Data:U.S. Census Bureau's March 2012 and 2013 Current Population Survey
BOARD AND PARTNERS PLANNING SESSION
Our Recommended Solution: Dollars and Sense Financial Literacy Training
About the Program:An expansion of our Micro Loan Program, this new educational tool (in partnership with the FDIC)
will provide basic financial literacy concepts to Micro businesses and youth.
A. Micro Business Development• Outreach Events – aggressively reaching out to Micro businesses within underserved census
tracts in Orange County.• In-House Training - half-day workshops for Micro firms that blend knowledge of best business
practices.
B. Youth Development• Financial literacy and job training to high school students within underserved census tracts;
working with minority business owners and partnering with entities that provide youth mentoring/internship opportunities.
BOARD AND PARTNERS PLANNING SESSION
Dollars and Sense Financial Literacy Training
Community Kick-Off EventWhen: Friday, February 21, 2014, 9:00 a.m.
Where: Orange County Barnett Park
About the Event:Event will feature onsite tax preparations for businesses and consumers; free credit reports/reviews, financial literacy training workshops.
Program Partners:
BOARD AND PARTNERS PLANNING SESSION
August 12, 2013
Thank you for your continued support!
BBIF Florida 301 E Pine Street, Suite 175
Orlando, FL 32801P: 407.649.4780F: 407.649.8688
W: www.BBIFFlorida.com
