Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald, interviewed Sahra Halpern.
President and CEO of the Business Consortium Fund (BCF) and Triad Investments. Here's a summary of the key points discussed:
🎙️ Episode Highlights 🌟 About BCF and CDFIs
- BCF is a nonprofit lender and a Community Development Financial Institution (CDFI).
- CDFIs are designated by the U.S. Department of the Treasury and exist to serve underserved communities.
- There are about 2,000 CDFIs across the U.S., working in small business and affordable housing sectors.
💼 Mission and Services
- BCF provides capital and support to minority-owned businesses, especially those with B2B models.
- They focus on relationship-based lending, helping clients through business cycles rather than writing off loans quickly.
- Since 1987, BCF has originated $228 million in loans and financed 950 minority business enterprises.
🧭 Application Process
- Applicants need to provide:
- Three years of tax returns
- Credit score
- Bank statements
- Cash flow analysis
- BCF emphasizes transparency and trust in the application process.
💡 Financial Advice for Entrepreneurs
- Know your industry – Understand the specific requirements of the sector you serve.
- Know your credit score – Monitor and improve it as needed.
- Don’t take on debt you can’t repay – Ensure your business cash flow can support loan repayment.
🤝 Community Engagement
- BCF relies heavily on word of mouth and community trust.
- They encourage early relationship-building, even before financing is needed.
📍 Location and Access
- BCF is physically based in New York but lends nationwide.
- Website: bcfcapital.com
#SHMS #STRAW #BEST
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